United States on Track for Record Natural Gas Production in 2026

The federal Energy Information Administration expects U.S. natural gas production to hit a record in 2026, averaging 122.5 billion cubic feet per day for the year, up from the previous record of 118.5 set in 2025. Most of the growth is coming from two regions: the Permian Basin in Texas and New Mexico, and the Haynesville area in Louisiana and Texas. In the Permian, gas comes up as a byproduct of oil drilling, and oil prices have risen from about $65 a barrel in 2025 to around $84 through July 2026, which is pushing operators to drill more. In the Haynesville, companies drill for gas directly, and production there is expected to grow even though the wells are unusually deep and costly.

Despite more gas being pulled out of the ground, the agency forecasts the benchmark Henry Hub price will actually dip slightly in 2026, to around $3.44 per million British thermal units. That price is a rough proxy for wholesale gas costs, though it does not translate directly into what shows up on a home heating bill, since utility rates include delivery charges, taxes, and regional differences.

For homeowners, this is mostly background context rather than something requiring any decision. It signals that gas supply is plentiful and wholesale prices are not spiking, which is one factor (among many) that keeps natural gas heating relatively cheap compared with switching costs. It does not change any rebate programs, deadlines, or equipment options available for home energy upgrades.