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US Natural Gas Output Rises 1.5% in March
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DENVER -- Spurred by the three days of the highest production in U.S. history, domestic natural gas production in the lower 48 states averaged 66.6 billion cubic feet, or Bcf, per day in March. Production levels on March 29, 30 and 31 came in at 67.6 Bcf per day, the single highest production days since last Nov. 9.
Average gas production in March was up 1.0 Bcf per day, or 1.5% from February, and up 2.54% versus levels seen in March 2013, according to the latest estimates from Bentek Energy, the oil and natural gas analytic unit of Platts.
“The last week of March was remarkable from a supply perspective and is a reflection of U.S. producers’ resilience in the face of strong gas demand faced by the nation this year," said Jack Weixel, Bentek Energy director of energy analysis. "Production in the Northeast basins like Marcellus and Utica are up 44% this March versus last March alone. It's becoming increasingly clear the Northeast is the new center of the gas universe for North America."
For all of 2013, U.S. natural gas production averaged 64.8 Bcf/d, an increase of more than 1.2 Bcf/d, or 1.9%, higher than the 2012 average of 63.6 Bcf/d. Bentek data analysis suggests production this year will average approximately 68 Bcf/d because of a higher price environment for producers and continued growth in liquids-rich basins such as the Eagle Ford, Bakken, Permian and Greater Anadarko, in addition to continued increases in dry production in the Marcellus.
The Bentek data analysis is based on an extensive sample of near real-time production receipt data from the U.S. lower 48 interstate pipeline system, Weixel noted.
Platts, founded in 1909, is a global provider of energy, petrochemicals, metals and agriculture information and a source of benchmark prices for the physical and futures markets.
Published by The Business Journal, Youngstown, Ohio.
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