Despite Northeast natural gas producers battling stiff headwinds last year — the lower rig count, sub-$1.50/MMBtu spot prices, lower demand, and price-responsive shut-ins in the shoulder periods — Northeast gas production volumes still managed to hit record highs in 2020, both for daily output as well as on an annual average basis. Regional production flows averaged 32 Bcf/d in 2020, up from 31.3 Bcf/d in 2019, and daily pipeline flow data shows volumes sustained year-on-year gains through January 2021. Today, we continue our series on the Northeast gas market fundamentals, this time with a sharper focus on production trends.
Headed for Heartbreak, Part 2 – The Northeast Gas Market’s Slow March Toward More Takeaway Constraints
