Nat-gas Production Rose 0.08% in April
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In April, natural gas production in the lower 48 states rose 0.56 billion cubic feet per day or 0.8 percent, according to data released today from the EIA.
Texas displayed the largest increase at 0.41 Bcf/d or 1.9 percent as production resumed from shut-in wells and new wells were brought online. Other States exhibited a gain of 0.40 Bcf/d or 1.8 percent as several operators reported new wells in the Marcellus shale play. Production decreased in the Gulf of Mexico and Wyoming by 0.14 Bcf/d or 3.0 percent and 0.13 Bcf/d or 2.0 percent, respectively.
Natural gas futures and the ETF (NYSE: UNG) are trading only slightly positive on Friday. If it closes at current levels, Nat-gas will post a 1 percent gain this week. UNG has gained 9 percent in the past 30 days due to strong demand for the commodity, which is increasingly being used for electricity generation in the U.S.
Texas displayed the largest increase at 0.41 Bcf/d or 1.9 percent as production resumed from shut-in wells and new wells were brought online. Other States exhibited a gain of 0.40 Bcf/d or 1.8 percent as several operators reported new wells in the Marcellus shale play. Production decreased in the Gulf of Mexico and Wyoming by 0.14 Bcf/d or 3.0 percent and 0.13 Bcf/d or 2.0 percent, respectively.
Natural gas futures and the ETF (NYSE: UNG) are trading only slightly positive on Friday. If it closes at current levels, Nat-gas will post a 1 percent gain this week. UNG has gained 9 percent in the past 30 days due to strong demand for the commodity, which is increasingly being used for electricity generation in the U.S.
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