Executive Summary
The Haynesville demonstrated resilient performance in 2025, with production growth outpacing peer basins despite pronounced month-to-month volatility. Output gains were supported by efficiency improvements and DUC drawdowns, even as rig activity, while rebounding meaningfully from interim lows, remained well below prior cycle peaks. Natural gas front-month futures pricing provided episodic support for activity, with seasonal demand and tightening balances driving a late-year rally after summer weakness.
Also in this Issue:
Oil and Gas Commodity Prices
Macro Update - Natural Gas Outlook: Producers Face a Familiar Disconnect In 2026
Region Focus: Haynesville
Market Valuations & Transaction History
Selected Public Company Information
Production
Rig Count