By Daniel Graeber
DENVER, Nov. 7 (UPI) – U.S. natural gas production has risen for the 10th consecutive month, moving steadily into “unchartered territory,” analysis from Platts finds.
Bentek Energy, the forecasting unit of Platts, found gas production in the Lower 48 statesaveraged 69.9 billion cubic feet per day in October, breaking the previous record and posting the 10th straight month of gains.
Gas production in October was 7.9 percent higher year-on-year.
Jack Weixel, director of analysis at Bentek, said projects slated to come online in the U.S. northeast should push the U.S. gas output above the 72 billion cubic feet per day mark by the end of the year.
“The current level of production is unchartered territory for the domestic natural gas market and shows no signs of slowing,” Weixel said in a Thursday statement.Read full story