Major improvements by natural gas exploration-and-production companies have allowed them to continue to drill profitably in a period of depressed prices, adding to the glut of gas and putting further pressure on prices, an E&P executive said Wednesday at the IHS CERAWeek conference in Houston. “What’s happening is that we continue to get better and get more production per rig,” Kyle Mork, president of Energy Corporation of America, said in reference to the seeming paradox of growing US natural gas production despite a record low level of rigs. “We’re the problem,” he said. It is common knowledge in the industry that the main reason why natural gas prices — both Henry Hub and prompt-month futures — are trading at levels not seen since 2012 is because of the phenomenal growth in US natural gas production led by the Marcellus Shale. Article continues below… Gas Daily offers the most detailed […]