DENVER, Sept. 9, 2014 /PRNewswire/ -- Natural gas production in the lower 48 United States increased by 0.4 billion cubic feet per day (Bcf/d) during the month of August versus July, according to Bentek Energy®, an analytics and forecasting unit of Platts. Production averaged 68.9 billion Bcf/d, the highest monthly average on record and the eighth consecutive month this year that average monthly production exceeded the prior month. On August 29th, production again set a one-day record high of 69.4 Bcf/d, following on a July 30 one-day record high of 69.3 Bcf/d.

Average August 2014 gas production was 3.9 Bcf/d, or 6%, higher than the average in August 2013.

The U.S. Energy Information Administration (EIA) will publish its domestic production estimates for August on or around October 31.

"The U.S. continues to break natural gas production records almost on a daily basis," said Jack Weixel, Bentek Energy director of energy analysis. "In August we had two days - the 29(th) and 31(st) -that bested production records set in July and 9 out of the highest 10 producing days on record occurred over the past month. What's even more notable is that all this occurred during a month where the market saw substantial pipeline maintenance in the Northeast and Southeast regions of the country. With this seasonal maintenance behind, a production boon is likely in September."

According to Bentek data analysis, 2014 production will average approximately 67.9 Bcf/d. This, on the back of a higher overall price environment for producers and continued growth in liquids-rich basins such as the Eagle Ford, Bakken, Permian and Greater Anadarko, in addition to continued increases in dry production in the Marcellus.

The Bentek data analysis was based on an extensive sample of near real-time production receipt data from the U.S. lower 48 interstate pipeline system. Platts' Bentek production models are highly correlated with and provide an advance glimpse of federal government statistics from the U.S. EIA.

This Bentek Energy U.S. natural gas production data estimate is published early each month, covering the previous month's output activity. Bentek's dry gas production estimates are not observed data and are based on pipeline receipt nominations and certain state production data.

Bentek Energy, which specializes in energy market analytics and is recognized as an industry leader in natural gas market fundamental analysis, was acquired by Platts in 2011. For more information about natural gas supply and demand fundamentals and Bentek Energy, visit www.bentekenergy.com. For more information on natural gas spot price trends and Platts, a leading global energy, petrochemicals, metals and agriculture information provider, visit the website at www.platts.com.

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SOURCE Platts

SOURCE: Platts