For gas producers in Appalachia, this has not been such a good summer for basis – the price they get for their gas versus the benchmark at Henry Hub, LA. Basis in the eastern part of the Marcellus has been particularly weak, with negative differentials extending into New York. Even at some West Virginia points like Dominion South, producers have faced ugly basis for the past few months. But there are some points that have been relatively immune, including Columbia Gas TCO, which has been hanging in there at pricing pretty close to Henry. Even when parts of the Dominion South and TCO pipeline systems are on top of each other. Why are basis differentials in the Appalachian Mountains hopping around all over the place? Today we look into why some Northeast prices have taken a hit and others have not.