March 14, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--U.S. natural gas production is surging, and facilities that process the fossil fuel are keeping an eye on their units and equipment, as the growth shows no signs of abating. Natural gas production in the U.S. hit a record 37.9 trillion cubic feet in 2023, double the amount of 2006 and 4.2% higher than 2022, and companies like Energy Transfer LP (NYSE:ET) (Dallas, Texas) and Targa Resources Corporation (NYSE:TRGP) (Houston, Texas) are preparing for turnarounds for another potential increase.

Industrial Info is tracking more than 120 maintenance-related projects in the U.S. natural gas-processing sector that are set to kick off in the second quarter. Energy Transfer accounts for more second-quarter maintenance projects--and related investment value--than any other gas processor, with all but a few in Texas and Oklahoma. Targa trails only Energy Transfer in the total number of turnarounds.

Other companies featured: Hilcorp Energy Company and Marathon Petroleum Corporation (NYSE:MPC)