Yesterday our 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. We sound like a broken record, but the numbers continue to be mind-blowing–hitting new all-time, breath-taking highs each month. This month is no exception. Example: EIA predicts that in the next 30 days natural gas output from the U.S.’s seven major shale plays will go up another 1+ billion cubic feet per day (Bcf/d)! Let’s put that in perspective. Germany and France together use 10 Bcf/d of natural gas. In less than a year, the U.S. could completely meet the natural gas needs of both Germany and France–using only our increases in production! Just as mind-blowing: Last month production in the Marcellus/Utica (called Appalachia in the report) went up 359 million cubic feet per day (MMcf/d)–more than 1/3 of a Bcf. This month? EIA says our production will grow ANOTHER 386 MMcf/d! It’s staggering the amount of natural gas our region produces. Not to be left out, the Permian Basin, long known as an oil play, is now actively competing with the Marcellus/Utica. Permian gas production is set to grow another 222 MMcf/d this month. Here’s the latest…
Yesterday our 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. We sound like a broken record, but the numbers continue to be mind-blowing–hitting new all-time, breath-taking highs each month. This month is no exception. Example: EIA predicts that in the next 30 days natural gas output from the U.S.’s seven major shale plays will go up another 1+ billion cubic feet per day (Bcf/d)! Let’s put that in perspective. Germany and France together use 10 Bcf/d of natural gas. In less than a year, the U.S. could completely meet the natural gas needs of both Germany and France–using only our increases in production! Just as mind-blowing: Last month production in the Marcellus/Utica (called Appalachia in the report) went up 359 million cubic feet per day (MMcf/d)–more than 1/3 of a Bcf. This month? EIA says our production will grow ANOTHER 386 MMcf/d! It’s staggering the amount of natural gas our region produces. Not to be left out, the Permian Basin, long known as an oil play, is now actively competing with the Marcellus/Utica. Permian gas production is set to grow another 222 MMcf/d this month. Here’s the latest…