IFO Report – New PA Wells Drilled 4Q21 Highest in 2.5 Years

Yesterday the Pennsylvania Independent Fiscal Office (IFO) released their latest quarterly Natural Gas Production Report for October through December 2021 (full copy below). We have some great news to share! Natural gas production hit a new all-time high in 4Q21 in Pennsylvania. And the number of new shale wells spud (begun to be drilled) spiked up to its highest level in more than two and a half years (154 wells spud). Some 518 new wells were drilled for all of 2021, the highest number since 2017.

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