Higher interest rates culminate in higher borrowing costs
Natural gas producers are engaged in a capital-intensive industry that requires businesses to make significant capital expenditures on a long-term basis to continuously improve the safety and reliability of its systems. The cost of liquidity required to fund the company’s working capital and other cash needs is dependent on interest rates and general conditions within the credit market. Therefore, the Federal Reserve’s move to combat inflation by increasing interest rates presents an inherent threat to the company by raising the cost of borrowing and limiting the amount of funds the company has for investing in its infrastructure.
Balance Sheet|ESGIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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