PA NatGas 1Q26: Production Even, Drilling Up 7%, Spot Price Up 41%

Yesterday, the Pennsylvania Independent Fiscal Office (IFO) released its latest quarterly Natural Gas Production Report for January through March 2026 (full copy below). There were 101 new horizontal wells spudded (drilled) in 1Q26, an increase of 7 wells (+7%) compared to 1Q25. Natural gas production volume was 1,928 billion cubic feet (Bcf) in 1Q26, down less than 1/10th of a percent from 1,943 Bcf produced in 1Q25 (down 15 Bcf, -0.8%). The average Pennsylvania spot hub price was $5.22, a huge increase of $1.53 (+41%) from the prior year’s $3.69.

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