Canadian Natural Gas Gains as Drilling Slowdown to Pare Output
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Canadian natural gas rose after seven straight days of declines on speculation that slowing drilling programs will help cut production.
Alberta gas advanced 3.2 percent. Encana Corp., Canada’s biggest gas producer, said Feb. 17 it would cut output and direct drilling efforts to oil and natural-gas liquids. The number of rigs drilling for gas in the U.S. dropped to 710 last week, the seventh consecutive decline, according to Baker Hughes Inc. data.