Monthly Decline of 28 Million Cubic Feet per Day in Marcellus Natural Gas
FrackCheckWV
Monthly Decline of 28 Million Cubic Feet per Day in Marcellus Natural Gas
EIA oil & gas productivity report: Is it all downhill from here?
From an Article by Marissa Hall, Shale Plays Media, June 10, 2015
Although the U.S. shale revolution has maintained impressive momentum over the course of the last year, depressed oil prices have taken their toll. The Energy Information Administration released its monthly drilling productivity report this week, and it has confirmed what many industry experts saw coming. With the exception of the Permian Basin, the U.S. has seen a drop in oil and gas production across the board in the major shale regions.
According to Oilprice, the major shale plays in the U.S. will have decreased a projected 208,782 barrels of oil per day (bpd) by July, down from April’s peak of 5,694,580 bpd as production decreases took root shale by shale. Now, the last holdout is the Permian, where production has yet to decrease but has seriously “plateaued” (leveled).
The biggest factor in the downward trend is the decrease in legacy oil production, which the EIA report asserts is largely due to well depletion rates.
The nation’s strongest areas saw the most troubling declines. The Bakken decreased 29,000 bpd from the previous month. The area’s peak point was at 1,311,703 bpd in March but will have decreased roughly 74,763 bpd by July.
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