Natural Gas Monthly July 1997

This issue of the Natural Gas Monthly presents the most recent estimates of natural gas data from the Energy Information Administration. Estimates extend through November for many data series, and through August for most natural gas prices. Highlights of the most recent data estimates are: (1) Preliminary estimates of dry natural gas production and total consumption available through November 1997 indicate that both series are on track to end the year at levels close to those of 1996. Cumulative dry production is one-half percent higher than in 1996 and consumption is one-half percent lower. (2) Natural gas production is estimated to be 52.6 billion cubic feet per day in November 1997, the highest rate since March 1997. (3) After falling 8 percent in July 1997, the national average wellhead price rose 10 percent in August 1997, reaching an estimated$2.21 per thousand cubic feet. (4) Milder weather in November 1997 compared to November 1996 has resulted in significantly lower levels of residential consumption of natural gas and net storage withdrawls than a year ago. The November 1997 estimates of residential consumption and net withdrawls are 9 and 20 percent lower, respectively, than in November 1996.