EIA April DPR: Utica Production Slows, Marcellus Loss Slows

EIAYesterday 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. First interesting observation about the report just issued: The rate of production decline in the Marcellus has gone down. That is, although the Marcellus is predicted to produce less shale gas in May than it will in April, the amount of less production has decreased–meaning we may be close to equilibrium where the Marcellus produces around the same amount of gas each month, month after month. Second interesting observation: Utica natgas production has continued to grow each month while the other six plays have declined in production each month. The EIA is predicting that in May the Utica will not grow by much–just 1 million cubic feet per day of additional production. Essentially, Utica production of natgas is now flat month over month. Will it also go in the red when the next monthly report comes out?…

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