Latest EIA Report Shows Marcellus Production Passing 16 Bcf/d
The American shale revolution continues–at a brisk pace. Yesterday our favorite government agency, the U.S. Energy Information Administration (EIA) released our favorite report–the monthly Drilling Productivity Report (DPR). Lots of acronyms! In viewing total production across the seven major commercially active shale plays in the U.S., which include both the Marcellus and the Utica, one thing stands out: Every single play saw an increase in both oil and natural gas production over the past 30 days. In the case of the Marcellus, natgas production is forecast to increase another whopping 214 million cubic feet per day (Mmcf/d) in the next 30 days. The Marcellus will officially pass the 16 billion cubic feet per day (Bcf/d) mark–forecast for a 16.1 Bcf/d average in December. Utica natgas production is forecast to grow 86 Mmcf/d and hit a 1.67 Bcf/d average during December. Here’s the full November DPR from the EIA that gives you the 411 on the Bcf’s…
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Get this: From 2003-2010 PA Democrat Gov. Ed Rendell ran Pennsylvania over an economic cliff during his administration by raising taxes and raising spending even more. The mess was so bad it took current Gov. Tom Corbett several years to fix it and put the state back on the road to economic sanity. It’s not hyperbole to say that Corbett saved Pennsylvania from bankruptcy. The thanks Corbett got for saving the state? He got fired. Democrat Tom Wolf came along promising the moon–and (using $10 million of his own money and another $10 million of Californian “environmentalist” Tom Steyer’s money) he won. Yesterday Wolf named a former head of the Dept. of Environment Protection (and Wolf’s former opponent in the Dem primary for governor) Katie McGinty to be his chief of staff. Oh, did we mention that both Wolf and McGinty were cabinet members in the Rendell administration? Nothing like getting the band back together so you can take the state right back over the same economic cliff again. Leaving aside the larger economic issues for PA, we wonder how McGinty’s appointment will affect Marcellus drilling in the state…
What can we divine by reading the tea leaves from the recent election outcome in New York State vis-à-vis the relative strength of the anti-drilling agenda in the Empire State? A casual reference to media reports gives one the impression that those opposed to drilling–particularly in the Southern Tier area of New York–are on the rise. Yet in head-to-head contests (at least in the Southern Tier) pro-drilling candidates have now beaten anti-drilling candidates over the span of two election cycles. We can’t find a single race of consequence (anything bigger than town board level) where a pro-drilling candidate lost! Does that portend good things for New York State and the future of drilling?…