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Friday, March 28, 2014

Gas Well Freeze-Offs Increase Considerably During Cold Winter

From Platts:
Although the bitter blasts of the just-completed winter resulted in three times as much US gas being shut in due to well freeze-offs as analysts had forecast, federal regulators say freeze-off data can lag by several months and they have no way to compel producers to release data to them.

Platts unit Bentek reports that US dry gas production fell to an average of 65.7 Bcf/d in first-quarter 2014 due to freeze-off curtailments.

"At the height of freeze-offs, January production dipped to 65.0 Bcf/d. In comparison, fourth-quarter 2013 production averaged 65.8 Bcf/d, and November 2013 reached a record high of 66.6 Bcf/d," Bentek said.
Bentek analyst Ryan Smith said the volume of gas shut in during the winter of 2013-14 was more than three times what the firm's analysts had predicted at the start of the winter.

"We had forecasted for the cumulative freeze-offs for the winter to be 43 Bcf. It was 132 Bcf. Normally it's between 35 or 40 [Bcf]," Smith said.
Read the whole article here.

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