EIA: U.S. Shale Natural Gas Output Declined in 2024

SEATTLE (Oil Monster):  According to the U.S. Energy Information Administration (EIA), shale natural gas production in the United States has decreased over the first nine months of this year.

Between January and September of this year, the total amount of shale gas produced in the United States decreased by around 1% to 81.2 billion cubic feet per day compared to the same time in 2023. Production drops from the Haynesville and Utica plays are mostly to blame for the reduction in shale gas production. Conversely, the output of other dry natural gas in the United States increased by over 6% to 22.1 billion cubic feet per day.

In September of this year, Haynesville's shale natural gas production reached 13 cubic feet per day, which is over 14% less than the peak production in May 2023. In the preceding month, Utica's shale production was 5.6 billion cubic feet per day, which was nearly one-third less than the highest level recorded in December 2019.

Compared to the inflation-adjusted peak of US$9.39 per million Btu in August 2022, the U.S. benchmark Henry Hub natural gas price dropped 79% to an average of US$1.99/million Btu in August 2024. According to the EIA report, prices so far this year have averaged US$2.10/million Btu.