Natural gas production falling sharply in Texas, Barnett

Natural gas production falling sharply in Texas, Barnett
July 09, 2013 | posted by The Institute

Source: Bizjournals.com

By: Nicholas Sakelaris

Natural gas production is declining statewide and locally in the Barnett Shale as drillers shift resources to go after oil or liquid natural gas plays that bring higher prices.
The latest numbers from the Texas Railroad Commission show a sharp drop for the first four months of 2013, including preliminary numbers for April. The price of natural gas dipped below $2 per million British thermal units in April 2012 and has been on a steady increase since then but, clearly, not enough to get production going again.
Industry experts and executives say the price needs to hit $5 or higher to spark more exploration and production.

Statewide natural gas production:

  • January: -15 percent
  • February: -17 percent
  • March: -15 percent
  • April: -22 percent

 

Statewide oil production:

  • January +18 percent
  • February: +13 percent
  • March: +16 percent
  • April: +4 percent

 

Natural gas production in the Barnett Shale:

  • Tarrant County: -7 percent
  • Wise County: -8 percent
  • Johnson County: -21 percent