Texas Oil & Gas Association President Todd Staples As the cold front settled in, TXOGA issued an update on the state’s energy status: NATURAL GAS PRODUCTION, TRANSPORTATION AND STORAGE Texas natural gas production, processing, transmission and storage sectors prepared with increased production and storage in 2022. S&P Global Platts estimates Texas production has increased 6% in 2022 over 2021 with an average daily production of 25.1 billion cubic feet per day of dry gas. Texas power demand is anticipated to increase Thursday to Sunday. The greatest demand is the power sector, which is estimated to increase from 4.4 bcf/d on Wednesday to 8.34 bcfd by Friday then steadily dropping to normal levels after Christmas Day. Residential and commercial customer demand is also anticipated to increase by approximately 2.5 bcf from Wednesday to Friday. Typically, Texas consumption (residential, commercial, industrial, power generation, etc.) is approximately 45-50% of the total Texas production. Across the U.S. there is a slight reduction of 0.9 bcf from Thursday to Friday in dry gas production from 94.0 to 93.1 bcf with the Marcellus and Texas being the largest producers. Storage is the key to ensuring access to needed gas during high demand surges. S&P Global […]
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