US dry natural gas production fell to 70.4 Bcf Tuesday, marking its lowest level since late December as drilling activity in associated gas production continues to decline, according to Bentek data. Production remained below 71 Bcf/d on Wednesday and Thursday, only the third such instance so far this year, according to the data from Bentek, an analytics unit of Platts. US output was last seen below Tuesday’s level on December 28. After reaching an all-time high of 73.8 Bcf/d on February 28, US gas production has been on a steady decline as weak prices continue to take a toll on producer margins. So far, prices at the benchmark Henry Hub point have averaged $2.00/MMBtu, down nearly 28% from an average price of $2.76/MMBtu over the same period in 2015. Article Continues below… Gas Daily offers the most detailed coverage of natural gas prices at interstate and intrastate pipeline and […]