Using data compiled in RBN’s Canadian NatGas Billboard report, Western Canadian natural gas production posted a new record high of 19.11 Bcf on December 24 (red dashed oval in top chart below). This record was part of a streak in which nine of the top 10 daily production highs were achieved in the final nine days of 2023, an unprecedented run for Western Canada’s natural gas output. Mild weather across much of the region during December (in fact, the warmest December since 1900 for Alberta) and producers pushing to meet or exceed year end production targets and wrap up fourth quarter capital spending plans, likely drove the string of daily production strength. It also sent monthly average production in December 2023 to a record high of 18.7 Bcf/d, a full 1.0 Bcf/d higher than a year ago.
Featured Articles
- Analyst Insight
New Natural Gas Production Record in Western Canada
Western Canadian natural gas production set a new record in early December near 19 Bcf/d, bringing 2023 year-to-date production growth to 0.54 Bcf/d. We currently expect additional growth in 2024 of 0.9 Bcf/d, but potential spending reductions by producers may undercut this estimate.
- Blog
Back on the Borderline - Canada's Natural Gas Market Remains Mired in Oversupply at Midwinter
The current winter heating season in Canada has seen extremes of warmth and cold, but much more of the former than the latter. Given that the Canadian natural gas market was already oversupplied and struggling with record-high gas storage levels as winter approached, even the most intense cold blast in mid-January wasn’t enough to return the supply/demand balance north of the 49th parallel to anything near normal. In today’s RBN blog, we discuss where the Canadian market stands as the calendar turns to February and what that might mean for end-of-winter gas balances.
- Analyst Insight
Western Canada’s Gas Production Holds Strong in March as Heating Season Draws to a Close
Western Canada's gas output for March 2025 set a new record for the month with current production on track to set up a record year.
