DENVER, March 6, 2014 /PRNewswire/ -- U.S. domestic natural gas production in the lower 48 states averaged 65.8 billion cubic feet per day (Bcf/day) in February 2014, according to the latest estimates from Bentek Energy, the oil and natural gas analytic unit of Platts. This is an increase of 0.6 Bcf/d or 1.0% from January. Comparing February this year to February of 2013 shows an increase of 2.2%, or 1.4 Bcf/d of incremental gas supplies to the market. .
The U.S. Energy Information Administration (IEA) will publish its domestic production estimates for February on or around April 30.
"Continued strong production growth in the Marcellus, Utica, Eagle Ford, Permian and Bakken shale formations has made the difference on a year-over-year basis," said Jack Weixel, Bentek Energy director of energy analysis. "Starting in Q2 of this year, we're looking for even greater volumes out of these regions due to completion of midstream infrastructure that will allow liquids-rich natural gas to add to incremental production."
For 2013 as a whole, U.S. natural gas production averaged 64.8 Bcf/d, up more than 1.2 Bcf/d or 1.9% higher than the 2012 average of 63.6 Bcf/d. Bentek data analysis suggests 2014 production will average approximately 68.0 Bcf/d, supported by a higher overall price environment for producers, continued growth in liquids-rich basins such as the Eagle Ford, Bakken, Permian and Greater Anadarko, and 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. Platts' Bentek production models are highly correlated with and provide an advance glimpse of production data ahead federal government statistics from the U.S. EIA. This Bentek Energy U.S. natural gas production data estimate will be published during the first week of every month, covering the previous month's output activity. Bentek's dry gas production estimates are not observed data but are based on pipeline receipt nominations and certain state production data.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV