Natural gas production in Louisiana last year hit a level not seen since 1980, according to state records. In 2010 the state produced nearly 2.06 Tcf, which is nudging up against the 2.67 Tcf produced 21 years ago. The state’s figures include wet gas after lease separation and exclude production from the Outer Continental Shelf. The Haynesville Shale area was credited for the rise in production — although Bill Delmar, assistant director of technology assessment for the state’s Department of Natural Resources, said it could not yet be determined how much of the production was from the Haynesville play proper. “The data just doesn’t split out that way for us; we’re in the process of trying to do that right now,” he told NGI’s Shale Daily. However, he said, “We could speculate that it was coming from the Haynesville Shale.”
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Haynesville Area Leading Louisiana Production Climb
Natural gas production in Louisiana last year hit a level not seen since 1980, according to state records. In 2010 the state produced nearly 2.06 Tcf, which is nudging up against the 2.67 Tcf produced 21 years ago.
Bullish Storage Report Ignored; March Slides Below $4
March natural gas futures Thursday took the plunge below the psychologically important $4 support level and couldn’t recover, possibly dooming the market to a prolonged period of sub-$4 prices.
Northeast Spikes Lead Flat-to-Higher Prices at All Points
Although no Northeast locations were able to breach the $10 average level a day earlier, they did so with a vengeance Thursday as further spikes carried them solidly into quadruple-digit territory. As it often is, Transco Zone 6’s New York pool was king of the price hill with the day’s top quote of $15 and top average of $14.31.
EXCO Reserves Climb as Company Shops Itself
Dallas-based EXCO Resources Inc. on Thursday credited drilling success in the Haynesville Shale for “a significant increase” in proved reserves. The company also said it is shopping for offers that would compete with a buyout proposal it received from its CEO late last year.
February Up a Nickel Following 136 Bcf Storage Draw
February natural gas futures slid lower from an elevated price level Thursday morning following the news from the Energy Information Administration (EIA) that 136 Bcf was removed from underground storage for the week ending Dec. 24, which was 48 Bcf less than the previous week’s 184 Bcf draw. However, the prompt-month contract ended up closing at $4.338, up 5.1 cents from Wednesday and 20.5 cents higher than the previous week’s finish.
Gas Shales Drive Reserves to Highest Mark Since 1971
U.S. natural gas proved reserves, estimated as wet gas (including natural gas plant liquids) increased by 11% in 2009 to 284 Tcf — the highest level since 1971 — according to the U.S. Energy Information Administration (EIA). Shale gas plays led the charge, the agency said.
EIA: U.S. Proved Gas Reserves Hit Highest Mark Since 1971
U.S. natural gas proved reserves, estimated as wet gas (including natural gas plant liquids) increased by 11% in 2009 to 284 Tcf — the highest level since 1971 — according to the U.S. Energy Information Administration (EIA). Shale gas plays led the charge, the agency said.
Shales Lead Reserves Growth Charge
U.S. natural gas proved reserves, estimated as wet gas (including natural gas plant liquids) increased by 11% in 2009 to 284 Tcf — the highest level since 1971 — according to the U.S. Energy Information Administration (EIA). Shale gas plays led the charge, the agency said.
‘Relentless Campaign’ Urged to Promote Shale Gas Resources
The natural gas industry has to mount a “relentless campaign” that demonstrates to the stakeholders that “gas is good, gas is good, gas is good,” American Gas Association Chairman Robert C. Skaggs Jr. said last week.
