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Thursday, July 27, 2017

EIA Predicts Rise in Oil and Gas Production for the Utica Shale

From Business Journal Daily:
Oil and gas production in eastern Ohio’s Utica shale is projected to rise next month as exploration activity continues to trend upward in the shale play, according to the latest data from the U.S. Energy Information Administration. 
EIA’s Drilling Productivity Report shows that the Utica is expected to produce 52,000 barrels of oil per day in August, up from 50,000 barrels a day for July. 
Natural gas production also remains strong in the Utica, EIA said. Utica wells are projected to yield 4.55 billion cubic feet of dry and wet gas per day in August, compared with 4.45 billion cubic feet in July, an increase of 104 million cubic feet per day. 
Oil and gas production in the nearby Marcellus shale in Pennsylvania and West Virginia is also on the increase, EIA reported. 
Wells in the Marcellus should produce 42,000 barrels of oil per day in August, up from the 41,000 barrels per day recorded for July.
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