IFO Reports 2023 PA Natural Gas Production Up 1.0% Over 2022, Thanks To Strong Q4 Production; Fewest New Wells Drilled In Last Decade

On February 26, the Independent Fiscal Office reported 2023 Pennsylvania natural gas production was up 1.0% over 2022, thanks to a 4.5% increase in the fourth quarter, but production is still below 2021 numbers.

Total annual production was 7,520 billion cubic feet in 2023; 7,441 billion cubic feet in 2022;  7,563 billion cubic feet in 2021;  7,077 billion cubic feet in 2020; and 6,816 billion cubic feet in 2019.

The number of new wells drilled-- 421 in 2023-- was the fewest drilled in year in the last decade.

The average Pennsylvania spot price for natural gas was $1.69, a decrease of $2.85 (-62.8%) from the prior year. The average price for the full year was $1.68, a decline of $3.89 (-69.9%) from the prior year.

Low natural gas prices throughout the year were driven by high inventory levels and mild weather.

Click Here for a copy of the report.

PA Oil & Gas Industry Public Notice Dashboards:

-- PA Oil & Gas Weekly Compliance Dashboard - Feb. 24 to March 1 - 11 More Abandoned Conventional Wells; Field Of Leaking Wells; Voluntary Plugging; No Cleanup Progress In Reno Spill [PaEN]

-- Latest DEP Inspection Shows No Progress By Petro Erie In Cleaning Up The Conventional Oil Well Wastewater Spill That Contaminated The Village Of Reno’s Water Supply In Venango County 6 Months Ago  [PaEN]

-- DEP: Clay-Like Material Polluting Marsh Creek Is Not Bentonite From Mariner East Pipeline Construction, But Naturally Occuring; Sunoco Cleanup Operation Finished  [PaEN]

-- PA Oil & Gas Industrial Facilities: Permit Notices/Opportunities To Comment - March 2 [PaEN]

-- 40 Individuals File Appeals, Most Handwritten, Of DEP’s Permit For Catalyst Energy Oil & Gas Wastewater Injection Well In McKean County  [PaEN]

-- EPA Appeals Board Allows Protect PT, Three Rivers Waterkeeper Appeal Of Penneco Oil & Gas Wastewater Injection Well Permit In Allegheny County To Move Forward  [PaEN]

-- Incomplete Application For CNX Midstream Slickville Fracking Wastewater, Natural Gas Pipelines Project In Westmoreland County Withdrawn By DEP  [PaEN]

-- DEP Posted 64 Pages Of Permit-Related Notices In March 2 PA Bulletin  [PaEN]

Related Articles This Week - Gas:

-- DEP: Oil & Gas Regulatory Program Will Be In The Red By Fall; All Sectors Greenhouse Gas Reduction Program No Go; Update On Permitting Reform  [PaEN]

-- PA Utility Law Project March 15 Webinar On Impacts Of LNG Gas Exports On Energy Costs For Pennsylvania Families; LNG Export Capacity To Double, Even With Permit Pause  [PaEN]

-- Bloomberg: Gov. Shapiro Calls On Biden To Keep Pause On Permits For New LNG Gas Export Facilities Short  [PaEN]

-- PA Environmental Groups: New PUC Rules, DEP Guidance Victory For Increased Safety In Pipeline Construction And Operation  [PaEN]

-- Chemstream Chemical Maker Agrees To Disclose Information About Its Proprietary Chemicals Used In Natural Gas Drilling  [PaEN]

-- IFO Reports 2023 PA Natural Gas Production Up 1.0% Over 2022, Thanks To Strong Q4 Production; Fewest New Wells Drilled In Last Decade  [PaEN]

NewsClips:

-- Spotlight PA: Federal Money Supercharged PA’s Plugging Of Dangerous Conventional Oil & Gas Wells, But Critics Want More Oversight

-- Guest Essay: The Conventional Oil And Gas Industry Isn't Taking Responsibility For Their Wells - By Rep. Greg Vitali, Majority Chair, House Environmental Committee  [PaEN]

-- Q/A With House Environmental Committee Majority Chair Greg Vitali

-- Q/A With Senate Environmental Committee Majority Chair Gene Yaw

-- WESA: Republican US Senate Candidate Says Less Red Tape, More Natural Gas Are Key To PA’s Economic Future

-- Q&A With Michael Huwar, Peoples Gas - ‘Regulatory And Legislative Efforts Must Support The Natural Gas Industry

-- The Allegheny Front - Reid Frazier: Permit Application For CNX Pipeline Project In Westmoreland County Withdrawn, Lacked Wildlife Permits

-- PA Business Report: Chemstream Announces Radical Transparency Fracking Chemical Compliance Initiative

-- TribLive: Murrysville Officials OK Olympus Energy Project For 2 Fracking Water Pipelines, 2 Natural Gas Pipelines In Westmoreland

-- MCall: Gas Leak Reported In Hellertown, Northampton County Prompting Evacuations 

-- PUC Reminder Of Opportunities To Comment On Proposed 18.7% Peoples Natural Gas Rate Increase

-- Pittsburgh Business Times: Panel: Washington County State Of The Economy Explores Impacts Of ARCH2 Hydrogen Projects

-- Reuters: European Union Receives Bids For Nearly 3 Times The Volume Of Gas They Need

-- Bloomberg: Qatar Has Eyes On More Long-Term Deals As It Bets Big On LNG Gas

-- Financial Times: Oil And Gas Industry Profits Triple Under Biden, Even As Industry Decries Him

[Posted: February 26, 2024]


3/4/2024

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