U.S. Monthly LNG Exports BCFD

 

LNG  is the primary growth driver of U.S. gas and LNG exports. The gas exports are expected to displace Russian gas exports to Europe.

Texas Oil Procing Counties

 

Map of oil producing counties in Texas. Permian Basin and Eagleford are in red. Much of the Gulf Coast Region is natural gas production.

Texas Oil Production: 2013 to the Present

Texas oil production has recovered from the COVID-19 low of 3.78 MBD in February 2021 to 5.49MBD in May of 2023, just above the pre-COVID-19 high. The oil price is currently above the $80/Bbl. This works out well for the Permian Basin Producers.

Texas Natural gas Production: 2013 to Present

Texas natural gas production has recovered from the COVID lows of February 2021 when production dropped to 667 BCF. Record oil and gas production benefits the state as well as the U.S.  The increase inproduction back to pre-COVID-19 levels has caused a significant drop in natural prices in the U.S.

U.S. Natural Gas Production Growth: 4% 2023

 

U.S. natural gas production averaged 12 BCF/Day in 2023. The above chart indicates that Appalachia, Permian Basin, and the Haynesville play accounted for 59% of total U.S. natural gas production. What a difference a decade makes. Both horizontal drilling and fracking improvements make these areas economic for producers.

Western U.S. Yearly Hydropower Generation

 

Hydropower generation as the lowest during 2023 since 2001. There are a number of factors affecting annual hydropower generation:

1. Precipitation patterns

2.Snowpack: water is released over time as the snow slowly melts

3. Reservoir storage

4. Drought

These factors  illustrate the complex nature of hydropower generation which makes it difficult to forecast annual hydropower generation.

Liquified Natural Gas (LNG) Exports from select Countries

 

The U.S. is the worlds largest exporter of Liquified Natural Gas (LNG). U.S. exports averaged 11.9 BCFD in 2023, a 12% increase over 2022.