The Financial Post reports in its Thursday, Feb. 29, edition that faced with weak prices, some gas producers in Canada and the U.S. are adjusting their plans. The Post's Chris Varcoe writes that Kelt Exploration said last week it will reduce its 2024 capital expenditure program by 7 per cent to $325-million. The Calgary-based producer lowered its forecasted average U.S. gas price outlook by 26 per cent, and its Alberta AECO gas price by 30 per cent to $2.20 per gigajoule. The company said warmer winter weather due to the El Nino weather pattern caused gas prices to weaken, which led to some capital spending being deferred until 2025. The gas market will likely face "tough slogging for the summer and things should start to look up again in the fall," Kelt's chief financial officer Sadiq Lalani said Tuesday. He said: "Gas prices will make a recovery, but it won't be until probably late fall, early next winter. So, drilling those gas wells this summer and bringing on all your flush production at a low gas price didn't really make any sense." ATB Capital Markets analyst Patrick O'Rourke says, "Gas producers are feeling pressure to penny pinch."