Analysts: Slowdown in Utica and Marcellus Shale Drilling Will Be Short-Lived
From Kallanish Energy:
The Northeast/Appalachian Basin/Marcellus and Utica Shale plays for years wore the moniker “Beast of the East,” referencing the region’s huge production and potential production.
But beginning this year, the region went from supply beast to “Beast on a Leash,” as the combination of ongoing, low commodity prices and lack of pipeline or line bottlenecks finally caught up to the prolific Northeast.
But any slowdown in the Northeast will be short-lived, with a number of analytics/consulting types pointing to the backlog of “DUCS,” drilled, but uncompleted wells, rapidly dwindling, meaning just to maintain the status quo, new wells must be spud.
“New drilling is imminent in the Northeast,” according to Luke Jackson, senior energy analyst for S&P Global Platts, during a Tuesday Webinar, attended by Kallanish Energy.Click here to continue reading.
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