New Milestone for Natural Gas Production

Includes: GAZ, GAZC
by: Mark J. Perry

Natural gas production in the U.S. set another new monthly record in April according to data released yesterday by the Energy Information Administration. Gross withdrawals of natural gas increased to an all-time high of 78.58 billion cubic feet (Bcf) per day in April, up by 0.54% from the 78.16 Bcf a day in March, and up by almost 7% from production in April last year (see chart above).

This new natural gas production record is another new milestone for the ongoing success of the hydraulic fracturing method of extracting natural gas from deep shale rock that is bringing about a new age of energy abundance in the United States.