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Bentek Energy: US natural gas output rose 0.6% in May

Bentek Energy

US exploration and production companies were at full throttle in May, producing 67.7 billion cubic feet per day (Bcf/d) of natural gas in the Lower 48 states, according to the latest estimates from Bentek Energy, an oil and natural gas analytics and forecasting unit of Platts. This was up 0.6% from the previous monthly high set in April.

May 2014 saw nine days of production in excess of 68.0 Bcf/d and 10 days of the highest production levels in the history of US gas production, the Bentek analysis showed. Production peaked on May 26 at 68.2 Bcf/d. Average May 2014 gas production was up 3.0 Bcf/d or 4.6% from May 2013 levels.

The US Energy Information Administration (EIA) will publish its domestic production estimates for May on or around July 31.

"With summer heat and air-conditioning season upon us and elevated natural gas demand from the power generation sector, despite higher prices, this record production is a shot in the arm for what is turning into a more and more robust market," said Jack Weixel, Bentek Energy director of energy analysis. "With power utilities clearly anxious about relying on coal as a fuel source now that the Environmental Protection Agency has released its latest carbon emissions reduction program, natural gas producers have stepped up and see a clear signal to deliver as much as the market can bear."

Bentek data analysis suggests that 2014 production will average 67.5 Bcf/d due to a higher price environment for producers and continued production growth from liquids-rich shale basins such as the Eagle Ford, Bakken, Permian, and Greater Anadarko plays, in addition to continued increases in dry production in the Marcellus shale play.

 

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