Natural Gas production and prices in Pennsylvania both rebounded sharply during the first quarter after a pandemic-induced slump in 2020, according to a new report by the state’s Independent Fiscal Office (IFO).

Appalachia Prices

Gas production from horizontal wells totaled 1,863 Bcf during 1Q2021, up 5.4% year/year (y/y), researchers said.

The report, based on data compiled by the Pennsylvania Department of Environmental Protection (DEP), showed “a clear acceleration” of production “after several quarters of moderate growth,” according to the IFO researchers.

Horizontal wells account for more than 99% of the state’s unconventional production.

There were 133 horizontal wells spud in the first three months of this year, down 13.1% y/y but up 34.3% from 4Q2020. This was the first...