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. Get ready to break new records–again! In July, we will once again hit the highest output of shale gas we’ve seen, ever. All seven major plays will produce an amazing 51.7 billion cubic feet per day (Bcf/d) of natural gas, and 5.5 million barrels of oil per day. In the Marcellus, natural gas output will hit 19.4 Bcf/d. In the Utica, output will reach 4.3 Bcf/d. The biggest natural gas story continues to be the Texas Permian–an oil play! When you drill like crazy for more oil, you also get natural gas out of the hole along with the oil. It’s called “associated gas.” And because the Permian is red hot with drilling, it makes sense natural gas production will spike up too. The Permian will add 161 million cubic feet per day (Mmcf/d) of natural gas production in July and hit a total output of 8.5 Bcf/d, now #2 behind the mighty Marcellus…
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. Get ready to break new records–again! In July, we will once again hit the highest output of shale gas we’ve seen, ever. All seven major plays will produce an amazing 51.7 billion cubic feet per day (Bcf/d) of natural gas, and 5.5 million barrels of oil per day. In the Marcellus, natural gas output will hit 19.4 Bcf/d. In the Utica, output will reach 4.3 Bcf/d. The biggest natural gas story continues to be the Texas Permian–an oil play! When you drill like crazy for more oil, you also get natural gas out of the hole along with the oil. It’s called “associated gas.” And because the Permian is red hot with drilling, it makes sense natural gas production will spike up too. The Permian will add 161 million cubic feet per day (Mmcf/d) of natural gas production in July and hit a total output of 8.5 Bcf/d, now #2 behind the mighty Marcellus…