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TOO MUCH GAS?
Oil & Gas Investor, March, 2008 by Haines, Leslie
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Last year, natural gas at Henry Hub averaged $7.17 per million Btu. That's not bad when you consider that U.S. storage held above the five-year average, the weather was mild, and some manufacturing plants that use gas were shut down.
More gas is coming onstream every day. The latest data from the Department of Energy shows Lower 48 daily gas production rose by 3 billion cubic feet (Bcf) between November 2006 and November 2007, with 2.4 Bcf of that incremental production coming from Texas. Devon Energy's Barnett shale production rose 33% last year to end 2007 at 950 million cubic feet per day. ...
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