Gas Production Loses 2 Bcf/d in Past Week Operators Cut Back in Response to Weak Prices

For comprehensive, accurate data to model natural gas production and consumption, look no further than IIR Energy 's NatGas Market Intelligence Suite. Our data enables precise production modeling by capturing metered data from 190+ pipelines and innovatively linking gas molecules to specific facilities like power generation or industrial plants. IIR Energy also provides detailed aggregated information on production, storage, power burn, residential/commercial & industrial consumption, LNG feed gas, and North American flows.

This trusted benchmark empowers you to elevate your insights. Our Suite also includes normalized Pipeline Notices which provide a clear understanding of adverse conditions as well as constraints within North America's natural gas system from Canada to Mexico. We recognize the critical importance of this information to you & your team. Our tool offers unparalleled access to Pipeline Notices, making them searchable and accessible regardless of their original format on electronic bulletin boards (EBBs).

Our Suite is complemented by dynamic News articles and Expert support. By providing a trusted benchmark inclusive of actionable insights, IIR Energy empowers you to level up your natural gas market understanding.

Natural gas production has fallen below 100 Bcf/d, losing an average of 2 Bcf/d since Aug. 6th.

The Appalachian Basin has seen the largest reduction, down 1.0 Bcf/d, followed by Texas with a drop of 0.8 Bcf/d. Louisiana and Oklahoma have also reported decreases of 0.2 Bcf/d and 0.1 Bcf/d, respectively, since August 5th.

In the Northeast, pipelines including Texas Eastern, Transco, Columbia Gas (TCO), and Equitrans have collectively experienced a 0.9 Bcf/d drop.

Natural gas prices have plunged below $2/MMBtu this summer due to weak demand, prompting Operators in the Plays to cut production to address the Supply glut.

U.S. working gas storage inventories are currently 8% above last year and 15% above the 5-year average.

Even the Henry Hub November contract is trading below $2.80/MMBtu heading into this Winter Season.

Not to mention the Henry Hub January contract is below $3.60

Meaning Operators such as Equitrans, Coterra, and Chesapeake are struggling to hedge in today's low price environment; thereby announcing during recent earnings calls a reduction in output for the second half of the year. Additionally, some pipeline maintenance is believed to be contributing to these production losses as well.

IIR is constantly striving to better understand the fundamentals of what is in unfolding in these evolving Energy Markets. And, convey our thoughts through reporting on events through IIR News.

For Industrial Info Resources 's peerless boots on/steel in the ground Research can bring forth insights -- today to tomorrow; such as what is happening.

As your feedback is very important to us. Please let us know if we may provide additional color or answer any other market questions you may have upon reading this story.

IIR Energy Team

Email: [email protected]

Direct: (713) 213-2823

ICE Chat: alourie