U.S. Natural-Gas Output Rises to Highest Since January 2005

Energy , Natural Gas Aug 30, 2011 No Comments

Natural gasRising production is going to add pressure on gas prices,” said James Williams, an economist at WTRG Economics, an energy research firm in London, Arkansas. “Production will probably remain at a high level with the rig count staying around 900.”

U.S. natural gas production in the lower 48 states increased 0.1 percent in June to the highest level since at least 2005, the Energy Department said.

Production rose to 69.47 billion cubic feet a day from a revised 69.39 billion in May, the department’s Energy Information Administration said today in a monthly report known as EIA-914. That’s the highest level since department began collecting monthly lower-48 data in January 2005.

The number of U.S. gas drilling rigs dropped 2 last week to 898, according to Houston-based Baker Hughes Inc.

Natural gas for October delivery gained 7.9 cents, or 2.1 percent, to $3.909 per million British thermal units on the New York Mercantile Exchange. Prices have dropped 11 percent this year.

via U.S. Natural-Gas Output Rises to Highest Since January 2005, DOE Reports – Bloomberg.

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.

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