Estimates

Maintenance-Related Production Cuts Spark Early Natural Gas Futures Rally

A sharp drop in the latest production estimates, attributed to springtime maintenance, helped lift natural gas futures several cents higher in early trading Tuesday. The June Nymex futures contract was up 4.1 cents to $2.662/MMBtu at around 8:30 a.m. ET.

May 14, 2019
Big Seven in Lower 48 to Near 78 Bcf/d Next Month, EIA Says

Big Seven in Lower 48 to Near 78 Bcf/d Next Month, EIA Says

Production from the seven most prolific U.S. onshore unconventional plays in March will continue its seemingly endless upward swing, with natural gas output forecast to reach 77.97 Bcf/d and oil an estimated 8.40 million b/d, according to the U.S. Energy Information Administration (EIA).

February 19, 2019
EIA Expects 75 Bcf/d-Plus Out of Big Seven Plays in December

EIA Expects 75 Bcf/d-Plus Out of Big Seven Plays in December

Natural gas and oil production from the seven most prolific U.S. onshore unconventional plays in December will continue a two-year upward progression, with gas output expected to reach 75.08 Bcf/d and oil an estimated 7.94 b/d, according to the U.S. Energy Information Administration (EIA).

November 13, 2018

Brief — Linn Sale

Houston-based Linn Energy Inc., which is revamping its exploration and midstreambusinesses, has agreed to sell its estimated 179,000 net acres in the Oklahoma waterflood and Texas Panhandle to an undisclosed buyer for $122 million. Third quarter production for the properties was about 5,200 boe/d, with proved developed reserves of 22.8 million boe. Annualized field level cash flow was estimated at $21 million, while annual general and administrative expenses for the combined properties is around $4-6 million. The sale is expected to close in early 2018 with an effective date of Oct. 1. Jefferies LLC acted as financial adviser for the Texas Panhandle properties, while Kirkland & Ellis LLP acted as legal counsel for both transactions.

December 19, 2017

January NatGas Near Even After Mixed Changes in Overnight Weather Data

January natural gas was set to open about a penny higher Friday at around $2.695, with some mixed changes overnight in the weather outlook not offering much inspiration for the bulls.

December 15, 2017

Consol Reports Strong 3Q Production in Preliminary Estimates

Consol Energy Inc. said Monday it produced between 99 and 103 Bcfe during the third quarter, according to preliminary estimates filed with the U.S. Securities and Exchange Commission (SEC) as part of its plans to spin off its remaining coal assets into a separate publicly traded company by year’s end.

October 16, 2017
Production From Big Seven Plays to Move Higher Again in June, EIA Says

Production From Big Seven Plays to Move Higher Again in June, EIA Says

In a continuation of a trend that began in January, natural gas and oil production from the nation’s seven most prolific unconventional plays will increase again in June, while the number of drilled but uncompleted (DUC) wells in the plays will also increase, according to data from the Energy Information Administration (EIA).

May 15, 2017

Revised Utica Assessment Says Questerre Holds 5.8 Tcf in Quebec

Questerre Energy Corp., which explores in Quebec’s Utica Shale within the St. Lawrence Lowlands, said independent engineers estimate that some of the company’s resources in the play are 30% larger than previously thought.

February 8, 2017

BP Pegs Macondo’s Total Costs Higher at $61.6B

The ultimate costs from the Macondo well blowout in the deepwater Gulf of Mexico six years ago, already considered the costliest environmental disaster in history, have reached $61.6 billion, BP plc said Thursday.

July 15, 2016
Mancos Shale Now Estimated to Hold 66 Tcf — Substantially Above 2003 Assessment

Mancos Shale Now Estimated to Hold 66 Tcf — Substantially Above 2003 Assessment

The Piceance Basin’s Mancos Shale in Colorado contains an estimated 66 Tcf of natural gas, sharply higher than a 2003 estimate of 1.6 Tcf, becoming the second-largest assessment of potential continuous gas resources ever conducted by the U.S. Geological Survey (USGS), officials said Wednesday.

June 8, 2016
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