The supply glut from the shale drilling bonanza meant that May was another month when U.S. natural gas production from the Lower 48 states stayed strong. As per the latest report from Bentek Energy – the forecasting unit of Platts – May natural gas production edged down less than 1% from the record highs of April to 72.6 billion cubic feet per day (Bcf/d). In fact, the May output was 7.2% higher year-over-year. Thanks to the emergence of major shale plays yielding impressive results, Bentek analysis further suggests that average domestic natural gas supply will climb to 73 Bcf/d in 2015. To put things in perspective, U.S. production was averaging just 55.1 Bcf/d in 2009, only six years back. The Shale Revolution Over the last few years, a quiet revolution has been reshaping the energy business in the U.S. The success of ‘shale gas’ – natural gas trapped within […]