US monthly natural gas production for February 2017 shows only modest growth over January 2017
HOUSTON (March 6, 2017) – Lower-48 U.S. natural gas production averaged 70.4 billion cubic feet per day (Bcf/d) during February 2017, just 0.4 percent higher (0.3 Bcf/d) than January 2017 levels, according to analysis from IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions.
In a positive sign for producers, February U.S. natural gas production improved in several regions that had suffered month-on-month declines for much of 2016. Most notably, Texas production increased by nearly 0.2 Bcf/d in February and Northern Louisiana (which includes the beleaguered Haynesville shale formation) followed suit with a 0.2 Bcf/d increase of its own.
However, these regional increases were not enough to overcome sluggishness elsewhere. For the U.S. as a whole, February 2017 natural gas production levels were 4.6 percent lower (3.4 Bcf/d) than February 2016 levels.
“Production gains in Texas and the Southeast U.S. were notable for the first time in nearly a year, while, in a reversal of roles, Northeast production remained flat this month,” said Jack Weixel, vice president for analytics at PointLogic Energy, a business unit of IHS Markit. PointLogic tracks U.S. production levels on a daily basis across 92 producing areas in the lower-48 states.
“The Gulf of Mexico was also to blame for stagnant production levels for the U.S. as a whole, falling 0.4 Bcf/d in February due to a processing plant outage in the region and unrelated declines across four major pipelines that bring natural gas onshore,” Weixel said.
Weixel noted that higher natural gas prices seen late last year and into January have sparked an increase in the rig count, which may translate into an increase in production leading into summer. “Certainly the signs of growth are there on a regional basis,” Weixel said. “Production has been low enough for long enough, that in order to meet this summer’s anticipated demand profile, a ramp up in production will be necessary.”
PointLogic Energy derives real-time natural gas production data from publicly available interstate pipeline flow data in the lower-48 United States. The energy division at IHS Markit provides market insight and analytics for North American power, gas, coal and renewables.
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