Key 2025 U.S. energy production, import, and export data

In 2025, U.S. marketed natural gas production reached a new record, rising by 5.3 billion cubic feet per day (Bcf/d) to 118.5 Bcf/d. The Appalachian, Permian, and Haynesville regions together accounted for 67% of total U.S. marketed natural gas production in 2025 and contributed 81% of the growth since 2024. The Henry Hub natural gas spot price rose 60% in 2025, reaching $3.52 per million British thermal units (MMBtu), supporting natural gas growth across all U.S. regions. Specifically, the Appalachian, Permian, and Haynesville regions contributed 4.2 Bcf/d of the production increase, while other regions contributed the remaining 1.1 Bcf/d. In 2025, the Appalachian region in the Northeast surpassed all other U.S. regions in natural gas production, accounting for 31%—or 36.6 Bcf/d—of total U.S. marketed natural gas output. In recent years, Appalachian production growth had slowed due to limited pipeline capacity hindering delivery to demand centers. However, in June 2024, the Federal Energy Regulatory Commission (FERC) approved the commencement of operations for the Mountain Valley Pipeline. With this added pipeline capacity—and with the Henry Hub price rising year-on-year in 2025—Appalachian natural gas production increased by 1.1 Bcf/d in 2025, compared to just 46 million cubic feet per day (MMcf/d) in 2024. In 2025, shale basins in Texas and New Mexico accounted for 23% of U.S. marketed natural gas production and contributed roughly half of the nation’s natural gas production growth. Marketed natural gas output from this region rose 11% in 2025—adding 2.7 Bcf/d—to average 27.7 Bcf/d. In the Permian Basin, natural gas production growth stemmed largely from associated gas generated during oil production. Although West Texas Intermediate (WTI) crude oil prices fell from $77 per barrel in 2024 to $65 per barrel in 2025, this price level continued to support oil-directed drilling in the Permian. Responses to the Dallas Fed Energy Survey from oil industry executives indicated that the breakeven prices for the two largest Permian basins in 2025 were $61 per barrel (Midland Basin) and $62 per barrel (Delaware Basin). Additionally, the average gas-oil ratio in the Permian Basin has been steadily rising, contributing to natural gas output growth. In 2025, the Haynesville region—spanning Louisiana and Texas—averaged 14.9 Bcf/d in natural gas production, up 4% from its 2024 annual average. The rise in Henry Hub prices from 2024 to 2025 rendered drilling in the Haynesville region economically viable—even given the relatively greater depth and higher development costs of its wells. The Haynesville formation lies at depths of 10,500 to 13,500 feet, whereas Appalachian wells average 4,000 to 8,500 feet deep. Moreover, the Haynesville region’s proximity to liquefied natural gas (LNG) export terminals and major industrial natural gas consumers along the U.S. Gulf Coast has attracted operators.

Labor shortages confronting the U.S. shale oil industry

New data released Friday by the U.S. Department of Labor indicate that U.S. crude oil and gasoline inventories may face supply shortages—but so too may the U.S. shale oil workforce. The latest figures show that employment in the U.S. oil and gas sector fell to 133,800 in September, down 4.8% from its peak in July this year. The Department of Labor reported Friday that the unemployment rate declined from 2.6% in August to 2.5% in September. By comparison, the unemployment rate stood at 7.3% in September last year. Even before this week’s recent oil price surge, the latest report from the Dallas Federal Reserve showed healthy expansion in oil and gas sector activity during the third quarter of 2025. Yet input costs continue to rise quarter-on-quarter: nearly all of the 58 companies surveyed by the Dallas Fed reported higher input costs. If the oil and gas sector wishes to retain its workforce, it may need to significantly raise wages—despite the fact that most U.S. oil and gas field companies have operated with extreme caution over the past few years, wary of overextending themselves too quickly and instead prioritizing shareholder returns and share buybacks.

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