10 Sep BENTEK Predicts PA Natural Gas Production Will Increase 78% by 2015
The drop in natural gas prices has many wondering about the future of the Marcellus Shale in Pennsylvania. However, BENTEK Energy’s natural gas pipeline nomination data provides promising information for the future of Marcellus Shale in the state.
BENTEK, an energy market analytics company, providing natural gas market fundamental analysis, reports that since July 1, Marcellus Shale natural gas production in Pennsylvania has reached more than 6.0 Bcf/d, an increase of 15% above levels recently published for the January-June 2012 period by the Pennsylvania Department of Environmental Protection (PA-DEP). The latest PA-DEP Marcellus well-level flow results were published this week and indicate natural gas production in Pennsylvania averaged 5.0 Bcf/d for January-June 2012.
However, BENTEK’s comprehensive daily natural gas flow data sample reveals Pennsylvania production was approximately 0.2 Bcf/d higher during the same period, which is likely the result of the vertical well production volumes published only annually in the PA-DEP data set.
BENTEK estimates that given the drilling activity and infrastructure limits in Northeast Pennsylvania, more than 1,000 wells drilled during the past 18 months are still waiting to be brought online. This well inventory is expected to sustain natural gas production growth in Pennsylvania during the next three years and, combined with current drilling activity, BENTEK predicts a 78% or 4.7-Bcf/d increase in the state’s gas production by the end of 2015.*
*Oil & Gas Financial Journal (Aug 29, 2012) – BENTEK: PA Marcellus natural gas production expected to increase 78% by 2015