Daily natural gas production in the lower 48 states reached its highest ever level on July 21, according to energy market research firm Genscape. The company’s proprietary pipeline models indicated output reached 70 billion cubic feet (Bcf) per day, a milestone that demonstrates the ongoing growth in production in the United States and the continued reliance on natural gas in North America.
Using regional natural gas prices in combination with well economics, Genscape provides accurate gas production forecasts in the market, with weekly updates and detailed production forecasts for more than 50 regions in the United States and Canada. Genscape has been aggressive in forecasting increasing U.S. natural gas production from shale plays across the country, with record flows in the Marcellus and Utica shale leading the way.
This dynamic economic forecast of rigs and natural gas production uses the most up-to-date available data and incorporates infrastructure impacts and deferred gas well inventory to help inform trading and hedging strategies.
Genscape’s Natural Gas Production Forecast includes forecast commentary every six weeks, as well as weekly rig breakout, price and pipe flow analysis reports. The forecasts are integrated to price and rig activity levels and pipeline flow data to ensure the forecasts are calibrated accurately with up-to-date signals of changes in production levels, allowing for price signals to flow through models and enabling reports to be adjusted based on market changes.