LNG

June 1 (LNGJ) - The Texas Alliance of Energy Producers said estimated natural gas output in the state last month was about 710.3 billion cubic feet, a decline of about 2.6 percent compared with the same month a year ago. With natural gas prices in April averaging $1.76 per thousand feet, the value of Texas-produced gas declined 31.2 percent to about $1.25 billion. However. according to the Texas Petro Index (TPI), crude oil prices could be leading the industry to recovery as West Texas intermediate (WTI) crude was last at $48.65 per barrel since falling to a low of $22.75 per barrel on February 11, 2016. “It appears increasingly likely that we have seen the bottom, and that is certainly cause for some celebration and cautious optimism about where we are headed at this point,” said Karr Ingham, the economist who created the TPI and updates it monthly.