Natural Gas replaces Solar electric generation during Eclipse in Texas

 

Texas was negatively affected by the the Eclipse on April 8th largely because it we path of totality. The path of totality is the area where the Moon completely blocks the sun resulting in an absence of solar light. The sudden reduction in solar power was compensated for by the increase in other sources of electric generation such as natural gas and coal. Solar power contributes a significant  portion to the Texas power grid. Grid operators need to be prepared for reductions in solar power to prevent strain on the grid and improve  reliability.

Uranium U3O8 Production in the U.S.

 

Uranium production in the 4th quarter of 2023 totaled 12, 653 pounds U308. This occurred from 4 areas in Wyoming and one in Nebraska. Uranium production fluctuates due to market demand, regulatory uncertainties, and  changing economic conditions. Wyoming is a major uranium producer in the U.S. It's clear that uranium production has declined significantly over the last six years.

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.