Chevron Corp. increased its natural gas output in the first two months of 2013 at the same time it was collecting higher gas prices than it did a year ago.

In the United States, net gas production in January and February averaged 1.256 Bcf/d, versus 1.170 Bcf/d for the full three-month first quarter of 2012. Global net gas output climbed 5.4% to average 5.291 Bcf/d in January and February, compared to 5.019 Bcf/d in 1Q2012.

The San Ramon, CA-based major, which is scheduled to release its 1Q2013 earnings report on April 26, said realized prices for U.S. gas averaged $3.06/Mcf in the first two months of this year, compared with $2.48 in 1Q2012. International gas prices averaged $6.03/Mcf, up from $5.88 in 1Q2012. U.S. crude oil and liquids realizations averaged $94.07/bbl in January and February, down from $101.93 in 1Q2012.

U.S. net oil-equivalent production increased to 663,000 boe/d in the first two months of 2013 compared with 651,000 boe/d in 1Q2012, but it was down from 4Q2012’s total of 674,000 boe/d because of maintenance activity in the Gulf of Mexico, Chevron said. International net output fell to 1.973 million boe/d from 1.980 million boe/d “largely reflecting the timing of cost recovery volumes under various production sharing contracts and weather-related downtime.”

Liquids output was nearly flat from a year ago in U.S. and overseas markets, according to Chevron. U.S. production averaged 453,000 b/d in the first two months of this year, versus 456,000 b/d in 1Q2012. International output averaged 1.301 million b/d in January and February, compared with 1.338 million b/d in the full year-ago period.

©Copyright 2013Intelligence Press Inc. All rights reserved. The preceding news reportmay not be republished or redistributed, in whole or in part, in anyform, without prior written consent of Intelligence Press, Inc.