PA IFO Report – 3Q NatGas Production Up 6%, Avg Price Up 187%

Yesterday the Pennsylvania Independent Fiscal Office (IFO) released their latest quarterly Natural Gas Production Report for July through September 2021 (full copy below). We have some encouraging news to share, along with some not-so-encouraging news. In 3Q21 the number of wells spud (begun to be drilled) was 111 new shale wells, the same number as in 3Q20, down from 2Q21's 120 spud wells. On the positive side, gas production increased by 6.8% in 3Q21 over 3Q20. In fact, 3Q21 saw the highest quarterly production in the state for all time!

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