Yesterday the U.S. Energy Information Administration (EIA) published the monthly Drilling Productivity Report (DPR). The latest DPR, which shows estimates for oil and gas production from the seven largest shale plays in the U.S., shows a drop in shale gas production across all plays (including the Marcellus/Utica) coming in March except for an increase in gas production in the M-U’s primary competitor, the Haynesville. The M-U is forecast to drop a whopping 260 million cubic feet per day (MMcf/d) in March from February's numbers. The Haynesville, with more active drilling rigs than the M-U region, will add 96 MMcf/d in March. EIA says shale gas production from the seven plays cumulatively will drop by 560 MMcf/d, over half a billion cubic feet per day (Bcf/d), next month. Our Three Favorite Charts Below are the three charts the EIA doesn’t include in the official PDF of the report (for whatever reason). We think these are the three best charts they issue each month (if there w
February 17, 2021 | Marcellus Drilling News marcellusdrilling.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marcellusdrilling.com Daily Mail and Mail on Sunday newspapers.
The natural gas storage report from the EIA for the week ending February 5th indicated that the amount of natural gas held in underground storage in the US fell by 171 billion cubic feet to 2,518 billion cubic feet by the end of the week, which left our gas supplies 9 billion cubic feet, or 0.4% below the 2,527 billion cubic feet that were in storage on February 5th of last year, and 152 billion cubic feet, or 6.4% above the five-year average of 2,366 billion cubic feet of natural gas that have been in storage as of the 5th of February in recent years..the 171 billion cubic feet that were drawn out of US natural gas storage this week was a bit less than the average forecast of a 175 billion cubic foot withdrawal from an S&P Global Platts survey of analysts, but way more than the 121 billion cubic foot withdrawal from natural gas storage seen during the corresponding week of a year earlier, and also more than the average withdrawal of 125 billion cubic feet of natural gas that have ty
The Lower 48’s ample supply of drilled but uncompleted wells, aka DUCs, is coming down at a quick pace and is expected to reach “normal” levels by year’s