Annual gas production falls in Pa. for first time since the fracking boom
Pennsylvania gas drillers saw a drop in production in 2022. It’s the first year-over-year decrease since fracking took off in the state more than a decade ago.
The Department of Environmental Protection’s latest Oil and Gas Annual Report shows drillers produced 7.5 trillion cubic feet of gas last year. That’s down from 7.6 trillion cubic feet in 2021.
That’s even though companies drilled about 140 more wells in 2022 than they did the year before – 790 compared to 648 in 2021.
Previous reports from the state’s Independent Fiscal Office have noted quarterly slowdowns in production growth, as well as the disparity between the number of new wells and production volume. The IFO says it shows that newer wells are not offsetting the decline of production in older wells.
https://stateimpact.npr.org/pennsylvania/2023/11/29/annual-gas-production-falls-in-pa-for-first-time-since-the-fracking-boom/
Importance: Has PA passed "peak gas" a decade or so after the fracking boom started? Also impactful due to lost tax and royalty fees into the Commonwealth's coffers.