Two new reports by top international research companies have come in on the high side of the great Marcellus resources debate, producing estimates that range between 267 Tcf and 698 Tcf of possible production.
Articles from Guess
One day after HB 401 — also known as the Natural Gas Horizontal Wells Control Act –garnered overwhelming support in both houses of the West Virginia legislature (see Shale Daily, Dec. 15), advocates for the shale gas industry, surface owners’ rights and the environment told NGI’s Shale Daily on Thursday that the bill isn’t all they had hoped for.
When Rex Energy Corp. announced in August that it acquired the rights to lease about 11,000 net acres in Carroll County, OH, for $40 million, the company said it was doing so to develop a prospect in the Utica Shale play and expand its acreage position there.
Dry natural gas production from the Barnett Shale during the first half of this year increased 6% compared with the year-ago period. Total liquids production was up 7%, mainly on a 12% gain in oil production (see chart). But the Barnett rig count has declined 25% from a year ago. Clearly, producers there are doing more with less, and it’s because they have “learned by doing.”
The natural gas futures market made it three in a row Tuesday as traders continued to lift prices off last Wednesday’s $5.96 low. The biggest boost was seen in the prompt July contract, which ascended 6 cents to $6.304. Less impressive were the out months, resulting in a modest 3.7-cent uptick in the 12-month strip.