Pennsylvania’s unusual natural gas production continued to rise in the second quarter as prices plummeted during operations last year during the VV-19 epidemic.
Unusual production in the second quarter hit 1,851 TC. , Up 7.8% from 2Q2020. According to the State Independent Fiscal Office (IPO), the year-on-year growth was the strongest year-on-year. Demand for the virus is declining, and quarterly growth in 2Q2020 is at an all-time low.
“The second quarter growth was driven by June production, which has increased by 10% since June 2020,” IFO said. Year-on-year growth in quarterly production is now accelerating, especially in the first half of 2021.
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Unusual production rose 5.4% year-on-year to 1.863 Tcf in the first quarter. The growth in the first six months of the year was similar to the pre-epidemic stages, according to the IFO.
In January and May, all of Pennsylvania’s natural gas production was about 3,150 TCF, or at an unusual time, natural gas production in Texas was very close, according to Efo. At the same time, all natural gas production in Texas was 4,118 Tcf, with corresponding gas prices declining due to fluctuations in oil prices. Texas and Pennsylvania lead the country in natural gas production.
Natural gas prices have also risen sharply since last year, with operators being forced to suspend production during the first wave of cholera and devastation. According to the IFO, Henry Hub’s price per second hectare increased by 74.7% year-on-year to 2.88 / MMBtu. Average prices in Pennsylvania rose 52.2% to $ 2.07 during the same period.
There was more activity in the region during the second quarter. The IFO says 120 horizontal wells have been drilled during this period, or seven times the same period last year. In the IFO report, horizontal wells accounted for most of the data, while vertical wells were drilled in unusual shapes to form a margin.
Overall, there were 10,569 wells in the region during 2Q2021, an increase of 4.9% over the previous year.