LNG

Dec 9  (LNGJ) - The Texas Petro Index has declined again for the 11th straight month, to 212.3, a drop of 32.2 percent compared with October 2014 when the TPI reached a record 313.2. "Amid all the chatter about when crude oil production may have peaked and rolled over in Texas and the US the sentiment about prospects for recovery has become increasingly pessimistic," said Karr Ingham, the economist who created the TPI and updates it monthly. "It seems the most optimistic outlooks expect the beginning of meaningful recovery to appear no sooner than the latter half of 2016," Ingham added. Estimated Texas natural gas output was nearly 753.4 billion cubic feet, a year-on-year monthly increase of 1.7 percent. With natural gas prices averaging $2.31 per thousand feet, the value of Texas-produced gas decreased 36.7 percent to about $1.75 billion.