US Natural Gas Production Hits All-Time Record In April -- EIA -- Argus Media -- June 30, 2018 -- So The Magic Number Is 90 BCFPD

From ArgusMedia:

US natural gas output hit a record high in April above 89 Bcf/d (2.5bn m³/d) as production rose in Texas, Louisiana and Oklahoma.

Gross gas production from the lower-48 states rose in April to 89.1 Bcf/d, up by 0.3pc, or 252mn cf/d from March, the US Energy Information Administration (EIA) said today in its monthly production report. April output has surged by 12pc from a year earlier as new infrastructure allowed more northeast gas to reach market and as producers continued to shore up fresh oil supplies from places like the Permian basin. 

Rising gas production and expectations for future supply growth has put downward pressure on prices this year.

Natural gas futures so far this summer have failed to sustain a rally above $3/mmBtu, despite low inventories and hot weather, a sign of confidence in continued growth.