Estimates

Natural gas and oil production from the nation’s seven largest unconventional plays is likely to decline once again next month compared with April figures, according to the Energy Information Administration (EIA).

Natural gas and oil production from the nation’s seven largest unconventional plays is likely to decline once again next month compared with April figures, according to the Energy Information Administration (EIA).

Brutal could describe the earnings results for the exploration sector in the final three months of 2015, but could sharp reductions in capital expenditures (capex) have set in motion a much tighter production supply, with improved pricing sooner than later? It’s not likely before the end of this year because a confluence of factors, analysts said.

Royal Dutch Shell plc said Wednesday capital spending this year — following its combination with BG plc — would be about $33 billion, $2 billion less than in 2015 but 45% less for the combined companies’ spend in 2015. With thetie-up, about 10,000 staff and contractors are also expected to lose their jobs.

While the target date for plugging the leak is still two months off, emissions have dropped 60% at the natural gas well storage site at Southern California Gas Co.’s Aliso Canyon underground field near Los Angeles, according to estimates by state regulators that were issued on Tuesday.

The Barnett Shale may have lost some of its allure as producers chased other unconventional prizes, but an updated federal assessment indicates the venerable North Texas play holds nearly double the amount of undiscovered natural gas, liquids and oil resources than estimated in 2003.

Natural gas and oil production from the nation’s seven largest unconventional plays in January is expected to compare with this month, despite colder weather and improving rig efficiency, the Energy Information Administration (EIA) said.

January natural gas is expected to open unchanged Friday morning at $2.18 as traders see a market precariously holding on to current price levels. Overnight oil markets rose.

December natural gas is expected to open 2 cents lower Thursday morning at $2.33 as traders have not only to deal with widely varying injection estimates but also recent Energy Information Administration (EIA) revisions to last week’s report. Overnight oil markets were mixed.