06/03/2026
📊 The Pennsylvania Independent Fiscal Office (IFO) has released its latest natural gas production and pricing update for the first quarter of 2026.
Key takeaways:
▪️ Pennsylvania natural gas production totaled 1,928 Bcf, down 0.8% from the prior year—the first annual decline in quarterly production since Q4 2024.
▪️ New horizontal wells spud increased 7.4% year-over-year, though preliminary April and May data suggest activity has slowed in Q2.
▪️ Pennsylvania spot hub prices averaged $5.22, up 41.5% from the prior year, driven in part by Winter Storm Fern and January price spikes.
▪️ While nationwide natural gas production increased 4.3%, Pennsylvania growth lagged many other top-producing states.
▪️ Preliminary Q2 data indicate prices have eased significantly, with Pennsylvania prices falling below Henry Hub by approximately $0.80.
These trends highlight the dynamic market conditions facing Pennsylvania's natural gas industry and the importance of policies that support continued investment and development.
Read the full IFO report here:
This document uses data from the Pennsylvania Department of Environmental Protection, the U.S. Energy Information Administration and Natural Gas Intelligence to provide a quarterly update on recent trends in production volume, well counts and average spot prices.