UPDATE 1-Lower 48 U.S. natural gas output in Feb. climbs 1.3 pct from Jan -EIA

Tue Apr 30, 2013 1:03pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* Gross gas output in February at 1.8 percent above year ago

* "Other states" see 2.1 percent monthly volume increase

NEW YORK, April 30 (Reuters) - Gross natural gas production in the lower 48 U.S. states in February climbed 1.3 percent from upwardly revised January output, the first monthly gain in three months, data from the U.S. Energy Information Administration showed on Tuesday.

Lower 48 "wet" gas output in February totaled 73.22 billion cubic feet per day, up from revised January output of 72.30 bcfd, the EIA said in its Monthly Natural Gas Gross Production Report.

Lower 48 refers to gas production in the United States excluding Alaska and Hawaii.

The EIA's previous estimate for January was 72.10 bcfd.

Monthly output in February rebounded to about 1.27 bcfd, or 1.8 percent, above the same month last year after slipping below year-ago levels in January for the first time since February 2010, likely due to well freeze-offs from the cold.

Excess production relative to year-ago has been narrowing since peaking at nearly 7 bcfd early last year. Some traders see that as a possible sign that the steep drop in gas-directed drilling was finally slowing overall output.

The "Other States" category saw the largest monthly volume increase of 0.52 bcf per day, or 2.1 percent, as new wells were brought on line in the Marcellus and Bakken shale plays.   Continued...