Pennsylvania Natural Gas Production Declines Amid Rising Residential Prices
The Independent Fiscal Office (IFO) has released its report on Pennsylvania's natural gas production for the second quarter of 2026. According to the IFO, natural gas production in the state declined slightly again during this period, marking the first annual decline since the first quarter of 2025.
A total of 89 new shale gas wells were spudded (drilled) in the second quarter, a notable decrease from previous quarters. The average Pennsylvania hub price for natural gas was $2.11, down by $0.27 (11.3%) compared to the prior year.
The IFO estimates that the average spot price will decline further in 2026 Q3 to $2.02, a 7.2% decrease from the prior year. However, it's essential to note that these spot prices do not reflect the actual prices paid by residential consumers. According to US Energy Information Administration data, the average price of natural gas sold to Pennsylvania residential customers increased by 7.3% in 2026 Q2 from the prior year.