Marcellus Differentials: What To Expect From The Earnings Season?
- Investors should brace for a challenging reporting season as it relates to Marcellus- and Utica-focused stocks.
- Price realization uncertainties going into Q4 and in 2015 will likely dominate conference call discussions.
- While such uncertainties are transitory, very little assurance can be given with regard to the timing of the price relief.
- So far, operators have shown little discipline curtailing production in the face of weak local demand and insufficient takeaway capacity.