Anyone care to figure how he arrived at that -$.05 number? Far as I can see, we're in contango about 150 ticks from current month going into the summer. You know, electricity usage and whatnot.
He's quoting the local price. Natural Gas pricing is HIGHLY location dependent. If there isn't a pipeline near the well, the transport costs can be almost as much as (or more than in this case) the sales price. The NYMEX futures quote is for gas bought at the Henry Hub. The linked article shows an example of pricing in a certain basin jumping upon completion of a pipeline serving the basin in Sep 2019. You can see on the historical price chart that, before that, it frequently went negative. https://www.eia.gov/todayinenergy/detail.php?id=41213
Electricity prices also go negative locally for similar underlying reasons. It's a well known effect for almost any difficult to store or short lived commodity. Gotta love it when some hotshot "discovers" something everyone in that profession has known all along!
Don't under estimate how low this can go Henry hub price 10 mm BTUs $1 78 per molecule.. Sure the Northeast could be stable.. Will be giving that away at Henry hub. Unstable