Statistics

November natural gas futures fell hard and fell often in Thursday’s trading. The 10:35 a.m EDT release of Energy Information Administration (EIA) inventory statistics revealed a healthy 70 Bcf injection, slightly less than anticipated but ahead of last year and long-term averages. November fell 35.8 cents to settle at $6.419, and December dropped 35.8 cents as well to $6.619. December crude oil rose $1.09 to $67.84/bbl.

Natural gas transmission and distribution pipelines are on track to have a fewer number of mishaps this year than in 2005, according to statistics from the Department of Transportation’s Office of Pipeline Safety (OPS). The number of injuries and fatalities stemming from pipeline failures also are likely to be fewer than last year.

Natural gas transmission and distribution pipelines are on track to have a fewer number of mishaps this year than in 2005, according to statistics from the Department of Transportation’s Office of Pipeline Safety (OPS). The number of injuries and fatalities stemming from pipeline failures also are likely to be fewer than last year.

With statistics compiled for the first two full months of the year, more than half of Pacific Gas and Electric Co. natural gas utility residential and small business customers have dropped their monthly use cumulatively more than 10% in January and February. Customers who maintain usage at least 10% below their cumulative use for the same three months last year will earn a 20% rebate on their gas bills for those three months.

Despite a 30% increase in gas-directed drilling in the United States over the last two years, quarterly production statistics from public financial reports show domestic production is still declining, analysts at Raymond James & Associates and UBS said this week. Both found second quarter domestic gas production down 1.2% from levels at the end of the second quarter of 2004 based on separate E&P surveys.

The rate of incidents involving natural gas transmission and distribution pipelines appears to have slowed in the first half of this year, according to statistics from the Department of Transportation’s Office of Pipeline Safety (OPS).

Rigs drilling in a search for natural gas and oil in the United States for the month of April came in at 1,334, an increase of 28 over March, according to the latest statistics from Baker Hughes Inc. April 2005 also had 183 more rigs operating in the U.S. than April 2004.

Reporting its production statistics for April 2004, Pittsburgh, PA-based Consol Energy said its natural gas production was up 12% over April 2003 due to additional producing wells drilled, while electricity production in the 2004 month fell significantly due to lower peak demand and higher natural gas prices. Consol produced a net 4 Bcf for April 2004, compared to 3.6 Bcf for April 2003. As one of the largest U.S. producers of coalbed methane, Consol produces approximately 146.2 MMcf/d from wells in Pennsylvania, Virginia and West Virginia. The company also has joint ventures that produce natural gas in Virginia and Tennessee, while producing electricity from coalbed methane at a joint-venture generating facility in Virginia. The company’s electricity production went from 425 MWh in the 2003 month to 124 MWh in April 2004. Coal production increased from 5.4 million tons in April 2003 to 6.2 million tons in the 2004 month.

Raymond James analysts tallied third quarter production statistics from 33 companies, representing 49% of total domestic production and found a 0.9% drop in natural gas production from the second quarter and a 6% decline from 3Q2001.