Firm says U.S. natural gas production has hit record high

Genscape said July 23 that its pipeline models indicate that natural gas production for the “Lower 48” states reached the 70 Billion Bcfd (billion cubic feet per day) level for the first time on Monday, July 21.

“This unique milestone demonstrates the ongoing growth in gas production and the continued reliance on natural gas in North America,” the energy market research firm said in a July 23 news release.

This development comes as the Wall Street Journal reported that natural gas prices are at an eight-month low.

The Energy Information Administration (EIA) listed the natural gas futures price for August delivery at $3.77/mmBtu on July 23. EIA had reported a gas futures price below $4 ($3.95/mmBtu) on July 18 and the price hasn’t gotten above $4/mmBtu since then.

About Wayne Barber 4201 Articles
Wayne Barber, Chief Analyst for the GenerationHub, has been covering power generation, energy and natural resources issues at national publications for more than 20 years. Prior to joining PennWell he was editor of Generation Markets Week at SNL Financial for nine years. He has also worked as a business journalist at both McGraw-Hill and Financial Times Energy. Wayne also worked as a newspaper reporter for several years. During his career has visited nuclear reactors and coal mines as well as coal and natural gas power plants. Wayne can be reached at wayneb@pennwell.com.