Yesterday MDN’s favorite government agency, the U.S. Energy Information Administration (EIA), issued our favorite monthly report–the Drilling Productivity Report (DPR). The DPR is the EIA’s best guess, based on expert data crunchers, as to how much each of the U.S.’s seven major shale plays will produce for both oil and natural gas in the coming month. Our first interesting observation from the May report: The EIA projects that in June (the report is a forecast looking forward) that once again the Utica Shale will be the only play out of the seven major plays that will continue to produce more natural gas than it did the month before. In April the EIA said the Utica would produce 1 million cubic feet per day (Mmcf/d) of natural gas above what it did the month before, and this report says the Utica will produce 4 Mmcf/d more than it did last month. Second interesting observation: Production in the Marcellus Shale, while it continues to produce each month than it did the month before, is slowing down. That is, the rate of decline is slowing, which means we may be getting close to the point when Marcellus production begins to pick up again. Keep a close eye on Marcellus production, because it’s the largest producing shale play in the country…
Yesterday MDN’s favorite government agency, the U.S. Energy Information Administration (EIA), issued our favorite monthly report–the Drilling Productivity Report (DPR). The DPR is the EIA’s best guess, based on expert data crunchers, as to how much each of the U.S.’s seven major shale plays will produce for both oil and natural gas in the coming month. Our first interesting observation from the May report: The EIA projects that in June (the report is a forecast looking forward) that once again the Utica Shale will be the only play out of the seven major plays that will continue to produce more natural gas than it did the month before. In April the EIA said the Utica would produce 1 million cubic feet per day (Mmcf/d) of natural gas above what it did the month before, and this report says the Utica will produce 4 Mmcf/d more than it did last month. Second interesting observation: Production in the Marcellus Shale, while it continues to produce each month than it did the month before, is slowing down. That is, the rate of decline is slowing, which means we may be getting close to the point when Marcellus production begins to pick up again. Keep a close eye on Marcellus production, because it’s the largest producing shale play in the country…