LINKThe U.S. Natural Gas Boom Is On Its Last Legs
OILPRICE-By Tsvetana Paraskova – Jan 15, 2020, 5:00 PM CSTJoin Our Community
Weak natural gas prices amid abundant supply and a falling rig count across the United States will slow down U.S. natural gas production growth this year, and some basins will even see production declines, analysts say.
Due to continuously rising U.S. natural gas production, natural gas prices at the U.S. benchmark Henry Hub averaged US$2.57 per million British thermal units (MMBtu) in 2019—the lowest annual average price since 2016.
Lower prices and fewer rigs are expected to slow down U.S. natural gas production growth this year. Some regions in the Mid Continent could see declines in their gas production, according to estimates from S&P Global Platts Analytics