Using data compiled in RBN’s Canadian NatGas Billboard report, Western Canadian natural gas production posted a new record high of 19.58 Bcf on October 30 (red dashed oval in top chart below). This output level surpasses the previous daily record high of 19.21 Bcf set on December 24, 2023 (black dashed oval) and is part of what has been a strong surge in Western Canada’s natural gas output during October. The surge sent October’s average gas production to an estimated at 18.62 Bcf/d, the third highest monthly average on record.
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- Analyst Insight
Records Were Made to Be Broken - Western Canadian Natural Gas Production Scores A New Daily Record
The records keep coming for Western Canadian natural gas production - new record set on November 2 at 19.62 Bcf, surpassing the prior record set just three days earlier.
- Blog
I Can't Help Myself - Why Western Canada's Natural Gas Production Has Been Hitting Multi-Year Highs
With natural gas prices reaching levels not seen in seven years, Western Canada is doing all it can to help increase gas supply, with recent data showing monthly production hitting multi-year highs. Moreover, Canadian forward gas prices are at the highest levels since 2014, gas pipeline expansions are in place or being constructed to accommodate future supply expansion, and gas-focused drilling activity remains strong — all of which may as well be a prescription for sending gas production to record levels later this year and in 2022. In today’s RBN blog, we provide an update on the recent gas production growth in Alberta and neighboring provinces and why more growth is coming.
- Blog
Too Low for Zero - Canadian Natural Gas Prices Experience Another Collapse, Record Discounts
We’ve seen this movie one too many times. Just when natural gas prices are rallying across the world to multi-year or historic highs, another monkey wrench gets thrown into the workings of the Western Canadian gas market, imploding its suite of price markers. Last week, gas prices in Western Canada collapsed to mere pennies and even went negative for a time due to an unfortunate combination of pipeline restrictions and record-high production — a situation that will cost the region’s gas industry billions if left unchecked. In today’s RBN blog, we examine the root cause of the latest price collapse and when a turnaround might be expected.
