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Natural gas production is up according to new figures just released by the U.S. Energy Information Administration.
Even in the face of low natural gas prices, production in the country increased 5 percent from 2014 to reach a record high in 2015 (79 billion cubic feet per day). The U.S. Energy Information Administration reports that Pennsylvania, Ohio, West Virginia, Oklahoma, and North Dakota offset production declines in much of the rest of the United States. 35 percent of the country’s gas production came from these states. Pennsylvania, Ohio and West Virginia lead the pack increasing production by 1.5 billion, 1.4 billion, and .8 billion cubic feet per day, respectively.
The administration predicts gas production growth will slow in 2016, but the long term forecast for the industry is that production will increase. That’s because prices are predicted to rise, industrial demand is expected to grow, and liquefied natural gas exports are expected to increase.
