Natural gas production in the US Lower 48 states increased by 0.4 billion cubic feet per day (Bcf/d) during the month of August vs. July, according to Bentek Energy, an analytics and forecasting unit of Platts.
The Bentek Energy report said that production averaged 68.9 billion Bcf/d, the highest monthly average on record and the eighth consecutive month this year that average monthly production exceeded the prior month. On Aug. 29, production again set a one-day record high of 69.4 Bcf/d, following on a July 30 one-day record high of 69.3 Bcf/d.
Average August gas production was 3.9 Bcf/d, or 6%, higher than the average in August 2013. The US Energy Information Administration (EIA) will publish its domestic production estimates for August on or around Oct. 31.
“The US continues to break natural gas production records almost on a daily basis,” said Jack Weixel, Bentek Energy director of energy analysis. “In August, we had two days â€“ the 29th and 31st â€“ that bested production records set in July, and 9 out of the highest 10 producing days on record occurred over the past month. What’s even more notable is that all this occurred during a month where the market saw substantial pipeline maintenance in the Northeast and Southeast regions of the country. With this seasonal maintenance behind, a production boon is likely in September.”
According to Bentek data analysis, 2014 production will average approximately 67.9 Bcf/d. This, on the back of 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.