Industry worries rise as natural gas sags

Despite recent cutbacks in production, natural gas prices are at a seven-year low and the U.S. still faces surpluses, fueling concern the industry has yet to hit bottom.

At the same time, oil and gas producers are beginning to see operational costs creep up again after pushing suppliers to lower prices for products and services in recent months, putting further pressure on margins, an industry analyst said Wednesday at the NAPE summer conference in Houston.