U.S. Industry Metrics

Natural gas production climbed in the U.S. last year, despite decreasing rig counts, reaching a record high of 96.3 Bft³d of dry natural gas production in November 2019. Since that time, however, dry natural gas production has declined amid relatively low natural gas prices. Similarly, associated natural gas production has fallen in line with the lower price of oil. The U.S. Energy Information Administration (EIA) expects dry natural gas production to continue falling through next year, from 94.5 Bft³d in January 2020 to 85.9 Bft³d in March 2021, due to reduced demand amid the novel coronavirus pandemic. The EIA forecasts increasing production from 2Q 2021. GP

 

U.S. natural gas spot prices at Henry Hub and NGL spot prices at Mont Belvieu, $/MMBtu

 

U.S. gas production (Bft3d) and prices ($/Mcf)

 

U.S. natural gas plant field production of NGL, LPG, ethane and propane, Mbpd