Earlier this week 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. The EIA projects natural gas production cumulatively across all shale plays will once again fall in August–the sixth consecutive month it will have fallen. However, unlike the July projection (see EIA June DPR: The Worm Turns for Utica NatGas Production), natgas production in the Utica will go up by a fraction. The projection last month was that July’s Utica production would, for the first time, go down. So it’s good to see a reversal in the Utica. The Marcellus, on the other hand, continues to bleed off production, although at a slower rate than it had been (down 51 million cubic feet per day–or MMcf/d–in last month’s report, down only 26 MMcf/d in this month’s report). Shale oil production is also forecast to drop once again in the next month. Here’s the lowdown from the EIA…
Earlier this week 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. The EIA projects natural gas production cumulatively across all shale plays will once again fall in August–the sixth consecutive month it will have fallen. However, unlike the July projection (see 