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Despite Drilling, U.S. Gas Output Continued Decline in Q1

by staff reporter, originally published by The Power Marketing Association  | May 11, 2004

Three analyst groups have concluded that quarterly U.S. natural gas production dropped between 4.9-5.3% compared with a year ago, led by a sharp decline among the majors. The quarterly figures, said Lehman Brothers' analyst Thomas Driscoll, are "both surprising and disappointing given drilling activity," because "industry appears unable to 'drill its way out' of gas market tightness."

Editorial Notes: Summary only.
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