EIA Drilling Report: Gas Prod to Hit Another Record High in April

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. For the past five reports, estimating production for November, December, January, February, and March, Marcellus natgas has increased. The trend continues in this latest report, which forecasts production for the coming month of April. In fact, EIA says natgas production for all seven major shale plays will go up–the first time we can remember that happening in more than a year. Last month EIA predicted the combined output of the seven major shale plays would hit 49.1 billion cubic feet per day (Bcf/d), a new record (see EIA Feb Drilling Rpt: Gas Prod. to Hit New Record High in March). The trend continues. If the numbers hold, EIA predicts the combined natural gas production across all seven major plays will hit 49.6 Bcf/d in April–up 562 million cubic feet per day. The Marcellus (and Utica) will both hit record-breaking highs in April for natgas production as well…

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