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EXCO Resources Inc. Message Board

  • quantuon quantuon Nov 14, 2013 9:17 AM Flag

    US EIA lowers Q1 2014 natural gas price estimate 20 cents to $3.78/MMBtu

    From Platts - (we better have a cold winter):

    The US Energy Information Administration Tuesday lowered its first-quarter forecast for Henry Hub spot natural gas prices by 20 cents to $3.78/MMBtu.

    In its November Short-Term Energy Outlook the agency also cut its Henry Hub spot price forecast for all of 2014 by 16 cents to $3.84/MMBtu.

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    • and from the EIA:

      The natural gas production forecast in STEO is now informed by EIA’s new monthly Drilling Productivity Report (DPR), which provides a new gauge for looking at oil and natural gas production growth in six key regions.

      This month’s STEO raises the projection for marketed natural gas production by 0.4 % in 2013 and 0.9 % in 2014 from the previous STEO. In the past several months, natural gas production has hit record high levels, even as prices declined this summer. The Marcellus Shale has been the main driver of growth. EIA publishes a monthly production estimate for several major producing states (such as Texas, Louisiana, and Oklahoma) and an other states category, which includes the Marcellus. August 2013 production for the other states category was 17% (or 3. 7 billion cubic feet per day (Bcf/d)) greater thanAugust 2012.

      Very strong growth in the Marcellus Shale (and to a smaller extent, the Eagle Ford
      Shale) has more than outpaced declines in the Gulf of Mexico and the Hay
      nesville Shale.

1.21-0.13(-9.70%)Nov 25 4:02 PMEST