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July 7, 2014 /PRNewswire/ -- June proved to be another record-breaking month for U.S. natural gas output in the lower 48 States, with production totaling 68.1 billion cubic feet per day (Bcf/d), according to the latest estimates from
Bentek Energy, an oil and natural gas analytics and forecasting unit of
Platts. This was up 0.3% from May and the highest monthly production average on record. It exceeded the previous monthly high set in May by nearly 0.2 Bcf/d.
June 27, production set a one-day record high of 68.7 Bcf/d, a record that Bentek expects will be broken in July. Average
June 2014 natural gas production was 3.5 Bcf/d or 5.4% higher than levels seen in
The U.S. Energy Information Administration (EIA) will publish its domestic production estimates for June on or around
August 30, 2014.
"While the pace of production gains slowed slightly this month, the magnitude of the overall increase in domestic natural gas production is remarkable," said
Jack Weixel, Bentek director of energy analysis. "To think that just five years ago in 2009, the U.S. was averaging only 55.1 Bcf/d of production, really puts the recent run of 68 Bcf days in perspective. As we enter the summer's peak energy demand period, both wholesale and retail consumers of natural gas should feel more at ease about prices with this amount of supply at hand."
Bentek data analysis suggests 2014 production will average approximately 67.5 Bcf/d due to a higher overall 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.