FxWirePro: Watch Pennsylvania production for Natural gas clues

Back in January 2010, Pennsylvania was producing about 22,711 million cubic feet of natural gas, which was just about 1 percent of the total production of the United States. At the time, one of the top producing states Texas was producing about 28 percent of the US natural gas production. But since then, the production in Pennsylvania has gone up by many folds. While the production in Texas declined by more than 15 percent since the summer of 2015, the production has continued to grow in Pennsylvania.

The state now produces more than 461 billion cubic feet of natural gas every month. The state now contributes about 17 percent to US production. The production growth in Pennsylvania continues to shadow declining production in many of the US states. In past one year, the production in the United States has declined by 93 billion cubic feet per month, while in Pennsylvania it grew about 14 billion cubic feet.

With production coming down in more traditional states like Texas, we would continue to monitor the levels of production from newcomer states like Pennsylvania.