Yesterday the Pennsylvania Independent Fiscal Office (IFO) released their latest quarterly Natural Gas Production Report for October through December 2020 (full copy below). There are two exciting bits of news coming from this report that (so far) nobody else is reporting: (1) After eight consecutive quarters (two years) of declining natgas production from shale (comparing the current quarter to the same quarter from the previous year), the trend reversed in 4Q20; and (2) even with all of the curtailments from Marcellus producers in PA last year, the state still produced a record high volume of natural gas–an all-time high record!
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