Why Did Utica Shale Gas Production Rise in January?

From Market Realist:
According to the EIA (U.S. Energy Information Administration), the Utica Shale in eastern Ohio has become one of the fastest-growing natural gas–producing regions in the United States. In its Drilling Productivity Report released on February 8, 2016, the EIA estimated that Utica Shale natural gas production reached ~3.2 Bcf (billion cubic feet) per day in January 2016. That’s ~2.2% more than production in December 2015 and 54% more than production in January 2015. In the past eight years, natural gas production at the Utica Shale has increased more than 19-fold.UticaEnlarge Graph 
Rigs and monthly additions from the average rig 
According to Baker Hughes (BHI), the Utica Shale currently has 14 active rigs, down from 16 in December 2015. In comparison, 45 rigs were in operation in the shale in January 2015. 
From January 2008 to January 2016, additional natural gas production per rig at the Utica Shale rose from ~0.20 MMcf (million cubic feet) per day to 6.5 MMcf per day, or by 32x. In the 12 months to December 2015, the natural gas production addition per rig rose 53%.
Read more by clicking here. 

Connect with us on Facebook and Twitter!

Popular posts from this blog

The Second Largest Oil and Gas Merger - Cabot and Cimarex

Is a Strong Oil Demand Expected This Year?

Pennsylvania Operator To Acquire Three Natural Gas Producers