PITTSBURGH—Appalachia is producing record levels of natural gas and producers should be able to maintain or grow that output without the significant investment in wells required in past years, Rystad Energy analysts said during Hart Energy’s recent DUG East/Marcellus-Utica Midstream conference.

Analysts also said they expect total U.S. gas production to return to pre-COVID levels in 2022. The recent plunge in the Henry Hub price of natural gas from well over $5/MMBtu to below $4 can be attributed to milder weather and a winter forecast for warmer-than-usual temperatures for most of the country, according to the National Oceanic and Atmospheric Administration. Whether it’s a sunny day or a snowstorm tomorrow won’t alter the Rystad forecast, though.

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