Same

In some cases operators just aren’t drilling and in others they are leaving the state for greener pastures as 2012 continued to be another year for declining natural gas production in Northwest New Mexico’s San Juan Basin, according to the latest state statistics that showed the region produced 780 Bcf last year.

Natural gas production in the Lower 48, boosted by output from shale plays, was up to 72.70 Bcf/d in December, almost 1% (0.62 Bcf/d) over December 2011, but down 1.1% (0.83 Bcf/d) compared with November, according to the most recent data from the Energy Information Administration (EIA).

Well permitting in Texas during January was up sharply from a year ago, as were well completions. December crude oil production was also up sharply compared with a year ago, but natural gas production slipped, according to the latest figures from the Railroad Commission of Texas (RRC).

U.S. natural gas production continued its steady decline through November, totaling 27.22 Tcf for the first 11 months of 2012, compared with 25.94 Tcf during the same period in 2011 and 24.42 Tcf in 2010, according to the U.S. Energy Information Administration’s (EIA) Monthly Energy Review for February. Marketed production (23.17 Tcf, compared with 21.90 Tcf in 2011) and dry gas production (21.98 Tcf, compared with 20.87 Tcf) were also up during the 11-month period, EIA said.

The fourth quarter was Carrizo Oil & Gas Inc.’s ninth consecutive quarter of revenue growth and one during which it charted record oil production and oil revenue, affirming the wisdom of management’s decision to transform Carrizo into an oil company, CEO Chip Johnson said.

Texas crude oil production during November was up from a year ago while natural gas production declined; during December, oil well completions were up while gas well completions declined, and the number of drilling permits issued was down from a year ago, according to the latest figures from Railroad Commission of Texas (RRC).

Make no mistake, the shale boom is a great thing for the country, but anyone expecting it to yield energy independence is in need of a reality check, according to Fitch Ratings.

Producers gored natural gas prices with the drillbit and have done the same to natural gas liquids (NGL) prices. Ethane rejection — seen last year in the Rockies and Midcontinent — could be “widespread” this year, and the Northeast could see gas production shut-ins as pipeline specification limits are tested, according to a midstream outlook prepared by U.S. Capital Advisors.

Producers gored natural gas prices with the drillbit and have done the same to natural gas liquids (NGL) prices. Ethane rejection — seen last year in the Rockies and Midcontinent — could be “widespread” this year, and the Northeast could see gas production shut-ins as pipeline specification limits are tested, according to a midstream outlook prepared by U.S. Capital Advisors.