EIA Short-Term Energy Outlook (January 2010)
The Energy Information Administration has issued its Short-Term Energy Outlook for January, 2010. Among other highlights, it concludes:
EIA expects the annual average natural gas Henry Hub spot price for 2010 to be $5.36 per thousand cubic feet (Mcf), a $1.30-per-Mcf increase over the 2009 average of $4.06 per Mcf. The price will continue to increase in 2011, averaging $6.12 per Mcf for the year.
More:
EIA estimates that total marketed natural gas production increased by 3.7 percent in 2009, despite a 59-percent decline in the working natural gas rig count from September 2008 to July 2009. Working natural gas rigs have since turned around from the mid-July 2009 low of 665, increasing to 759 as of December 31, 2009.
You can read the whole report here.
