Financial Times FT.com

US production growth to be cut off

By Sheila McNulty in Houston

Published: February 17 2009 01:42 | Last updated: February 17 2009 01:42

Growth in US natural gas production is expected to continue rising in the first quarter of 2009 before beginning what could be a dramatic decline, as producers complete projects started under last year’s capital budgets and more favourable market conditions.

“In the same way you don’t start production overnight, you don’t stop production overnight,’’ said John Richels, president of Devon Energy, the country’s biggest independent oil and gas company, which has two-thirds of its portfolio in natural gas.

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