Gross

Cabot Oil & Gas Corp. announced Tuesday that its gross production in the Marcellus Shale has averaged more than 700 MMcf/d for the last two weeks, hitting a record 752 MMcf for one 24-hour period.

Natural gas production in the Lower 48 states was 71.76 Bcf/d in March, a 0.26 Bcf/d (0.4%) decrease compared with 72.02 Bcf/d in February, according to the Energy Information Administration’s (EIA) latest Monthly Natural Gas Gross Production report. Texas had the largest decline at 0.15 Bcf/d (0.7%) as several operators reported shut-ins for well maintenance, EIA said. Declines in Louisiana (0.09 Bcf/d, or 1.1%) and New Mexico (0.08 Bcf/d, or 2.2%) were partially explained by well maintenance “and a few operators who cited low prices as a reason for limiting their production,” EIA said. Federal Offshore Gulf of Mexico production was 4.69 Bcf/d in March, a 0.16 Bcf/d (3.5%) increase compared with 4.53 Bcf/d in February, as production from shut-in wells resumed, EIA said. Production was down in every other category in March compared with the previous month — including the U.S. total, which was 81.75 Bcf/d (a 0.4% decline) — according to the report. Production in the “other states” category was 21.67 Bcf/d, a 0.2% decrease compared with 21.72 Bcf/d in February. Alaska production was 9.99 Bcf/d (down 0.5%); Oklahoma was 5.31 Bcf/d (down 0.2%) and Wyoming was 6.42% (down 0.6%).

Natural gas production in the Lower 48 states was 71.76 Bcf/d in March, a 0.26 Bcf/d (0.4%) decrease compared with 72.02 Bcf/d in February, according to the Energy Information Administration’s (EIA) latest Monthly Natural Gas Gross Production report.

Natural gas production in the Lower 48 states was 71.76 Bcf/d in March, a 0.26 Bcf/d (0.4%) decrease compared with 72.02 Bcf/d in February, according to the Energy Information Administration’s (EIA) latest Monthly Natural Gas Gross Production report.

A package of five conventional and unconventional properties in the northern Denver-Julesburg (DJ) Basin of Wyoming and Colorado is up for sale by Chesapeake Energy Corp. Gross acreage is estimated at more than 684,000 acres; net acreage totals about 504,000 acres, according to Meager Energy Advisors, the listing agent.

A committee appointed by Quebec’s environment minister to study hydraulic fracturing (fracking) said the practice requires further study and recommended against authorizing any test wells that would conduct fracking for research purposes.

The shale gas industry contributed $76.8 billion to U.S. gross domestic product (GDP) and supported more than 600,000 jobs in 2010, but that’s just the tip of the iceberg, according to a report issued Wednesday by the World Economic Forum (WEF) at IHS CERAWeek 2012 in Houston.

Because natural gas demand still is being hurt by weak U.S. gross domestic product (GDP) growth, industrial output and “uncommonly warm weather,” Deutsche Bank on Friday reduced its gas price forecast for the second time in less than a month.

With one transaction, Chesapeake Midstream Partners LP (CHKM) has become the “biggest gathering system in the Marcellus Shale,” CEO J. Mike Stice said Thursday.