US Natural Gas Production Up 4% In 2023 But Expected To Contract In 2024, EIA Reports

5:56 AM ET 03/28/2024 - MT Newswires

In 2023, the Appalachia, Permian and Haynesville production regions accounted for 59% of all US natural gas production, similar to 2022, the EIA noted. More gas was produced in Appalachia than in any other US region, accounting for 29% of gross production.

Meanwhile, in 2024, dry natural gas production is expected to average about 103 Bcf/d due to low natural gas prices and a relatively stable rig count, according to the agency.

Production growth in Appalachia has slowed as the region has insufficient pipeline takeaway capacity to transport the gas to demand markets, the EIA said.

Growth in gas production in the Permian region is primarily the result of associated gas produced during oil production. West Texas Intermediate crude oil prices remained high enough to support oil-directed drilling in 2023, the agency noted.

In the Haynesville region, gas production growth slowed in 2023 as low US natural gas prices decreased rig activity, the EIA said.

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