The natural gas industry is rebounding in Pennsylvania as the COVID-19 pandemic eases
Written by Jim Deegan on June 2, 2021
The natural gas industry is rebounding in Pennsylvania as the COVID-19 pandemic eases
By Rachel McDevitt / StateImpact Pennsylvania
June 2, 2021
Record-low gas prices and the COVID-19 pandemic slowed drilling activity in Pennsylvania last year but trends in the first quarter of 2021 show the gas industry is starting to rebound.
Pennsylvania’s gas industry drilled 133 new wells from January to March, according to data from the Department of Environmental Protection. That’s the first quarter-to-quarter rise since early 2020, but it marks a small decline from the same time last year.
The state’s Independent Fiscal Office notes it’s a clear acceleration after drilling slowed last spring.
Prices rose in early 2021, mainly because of cold temperatures and strong energy demand in February. Pennsylvania’s average price for the first quarter hit $2.53 per million BTUs which is 64% higher than last year.
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