State Energy Data System: Natural gas through 2023
(Fri, 10 Jan 2025) Annual state-level estimates of natural gas consumption, prices, and expenditures.
Spot Henry Hub natural gas prices hit a historic low in 2024
In 2024, the U.S. benchmark Henry Hub natural gas spot price averaged $2.21 per million British thermal units (MMBtu), the lowest average annual price in inflation-adjusted dollars ever reported. The annual average Henry Hub natural gas spot price in 2024 decreased by 16% from its 2023 average and 68% from its 2022 average, the largest two-year decline on record. The monthly average Henry Hub spot natural gas price in 2024 ranged from $3.25/MMBtu in January to an all-time low of $1.51/MMBtu in March, reflecting a narrower $1.74/MMBtu range of monthly prices across the year than the average range of $2.32/MMBtu
U.S. Oil and Natural Gas Wells by Production Rate
(Thu, 19 Dec 2024) Our Well Distribution Report presents historical, annual state-level data on well distribution by size and technology and analyzes emerging trends for 2023. Crude oil and natural gas wells drilled horizontally through hydrocarbon-bearing formations are among the most productive wells in the United States. The total number of horizontally drilled wells has increased 88% since 2014. In 2023, 77% of the more than 918,000 U.S. wells produced 15 barrels of oil equivalent per day or less. These wells are mostly older and drilled vertically.
Henry Hub daily natural gas spot price reached all-time lows in November
The U.S. benchmark Henry Hub daily natural gas price fell to $1.21 per million British thermal units (MMBtu) on November 8 and November 11, 2024, an all–time low in inflation–adjusted dollars. Four of the record–low daily prices when adjusting for inflation occurred in November 2024, and the remaining six occurred in 2024 as well. The Henry Hub spot price in November averaged $2.12/MMBtu, the lowest average price for that month ever when adjusting for inflation.
Argentina’s crude oil and natural gas production near record highs
Crude oil and natural gas production in Argentina are both nearing record highs, driven by increasing output from the Vaca Muerta shale formation, which is offsetting declining output from conventional oil and natural gas fields. From January 2021 through September 2024, crude oil production in Argentina increased by 50%, and natural gas production rose by 27%, lifting output of both fuels near the records set in the early 2000s, according to data from the country's energy ministry, the Secretaría de Energía de la República Argentina (SESCO).
Five states drove record U.S. natural gas production in 2023
Five states produced more than 70% of the record 113.1 billion cubic feet per day (Bcf/d) of U.S. marketed natural gas production in 2023. Texas accounted for 28% of U.S. marketed natural gas production in 2023, according to our Natural Gas Monthly, followed by Pennsylvania (18%), Louisiana (10%), West Virginia (8%), and New Mexico (8%). Even though production slowed in 2024, output from these five states continued to make up most—73%—of marketed U.S. natural gas this year.
Argentina’s crude oil and natural gas production near record highs
Crude oil and natural gas production in Argentina are both nearing record highs, driven by increasing output from the Vaca Muerta shale formation, which is offsetting declining output from conventional oil and natural gas fields. From January 2021 through September 2024, crude oil production in Argentina increased by 50%, and natural gas production rose by 27%, lifting output of both fuels near the records set in the early 2000s, according to data from the country’s energy ministry, the Secretaría de Energía de la República Argentina (SESCO).
U.S. inventories enter the winter with the most natural gas since 2016
Working natural gas in storage in the Lower 48 states ended the natural gas injection season with 3,922 billion cubic feet (Bcf), according to estimates based on data from our Weekly Natural Gas Storage Report released on November 7. U.S. inventories are starting winter 2024–25 with the most natural gas since 2016. Inventories are currently 6% above the five-year (2019–23) average, despite less-than-average injections into storage throughout the entire injection season, which runs April 1 through October 31. Less natural gas than the five-year average was injected in nearly every week during the 2024 injection season, in part because starting
Monthly Crude Oil and Natural Gas Production
(Fri, 29 Nov 2024) These monthly production estimates are based on data from Form EIA-914, Monthly Crude Oil, Lease Condensate, and Natural Gas Production Report.
Natural Gas Monthly
(Fri, 29 Nov 2024) In September 2024, dry natural gas production decreased year over year for the sixth time in the past seven months. Preliminary dry natural gas production in September 2024 was 3,064 billion cubic feet (Bcf), or 102.1 billion cubic feet per day (Bcf/d). Production was 2.2% (2.3 Bcf/d) lower in September 2024 than in September 2023 (104.4 Bcf/d). Gross withdrawals also decreased from September 2023