Tuesday, March 5, 2019

IFO: Natural Gas Production Increased 14.2% In 2018, Largest Increase Since 2014

On March 5, the Independent Fiscal Office released its latest update on natural gas production in Pennsylvania reporting a 14.2 percent increase in 2018 over 2017, the largest year-over-year increase in production since 2014.
Pennsylvania produced 6,115.1 billion cubic feet of natural gas in 2018. In 2017, production was 5,354.3 billion cubic feet.
Four counties-- Susquehanna, Washington, Greene and Bradford--comprised two-thirds of statewide production.
In the fourth quarter of 2018 there were 8,606 producing horizontal wells, a 10.6 percent increase over the year prior, and total producing wells increased by 9.9 percent in 2018 over 2017.
[Note: The Act 13 drilling impact fee that supports a variety of local and state program is a per well fee, it is not based on natural gas production like a severance tax.]

No comments :

Post a Comment

Subscribe To Receive Updates:

Enter your email address:

Delivered by FeedBurner