| Marcellus April Natural Gas Production: Up 17.6% from a Year Ago | |
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April Production Increases at Most Key Shales, but Is a Slowdown Inevitable? (Continued from Prior Part) Marcellus shale natural gas production
The U.S. Energy Information Administration (or EIA) released its Drilling Productivity Report (or DPR) on May 11, 2015. The EIA estimates Marcellus shale natural gas production in April at 16.7 billion cubic feet per day (or bcf/d). That’s 0.4% more than March’s production and 17.6% higher than a year ago.
Major oil and gas producers in the Marcellus shale could benefit from higher natural gas production in March. These producers include EQT Corporation (EQT), Anadarko Petroleum Corporation (APC), and CONSOL Energy (CNX). EQT is 0.85% of the Energy Select Sector SPDR ETF (XLE). APC is 2.7% of the iShares U.S. Energy ETF (IYE).
Gas production per rig
The number of rigs in the Marcellus shale increased to 83 in April, from 81 in March. A year ago, there were 96 drilling rigs in the region.
In April, the Marcellus shale produced 8.1 million cubic feet per day per rig, a 7% gain in production per rig since April 2014.
Importance of the Marcellus shale
Natural gas production in the Marcellus shale increased from 1.18 bcf/d in April 2007 to 16.70 bcf/d in March 2015. That’s 13.1 times more production in eight years. Currently, the Marcellus shale accounts for 36% of total natural gas production in the seven key US shales.
Largest shale gas basin
According to the EIA, the Marcellus shale is the largest producing shale gas basin in the United States. The Marcellus shale runs through western Pennsylvania, eastern Ohio, and West Virginia. The resource play has a mix of oil and gas reserves.
In the next part of this series, we’ll look at the Eagle Ford shale’s drill efficiency.
Continue to Prior Part Browse this series on Market Realist:
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Consol Energy Inc.
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PRODUCER |
CODE : CNX |
ISIN : US20854P1093 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Consol Energy is a producing company based in United states of america. Consol Energy produces coal in USA, and holds various exploration projects in USA. Its main asset in production is BUCHANAN in USA. Consol Energy is listed in Germany and in United States of America. Its market capitalisation is US$ 5.4 billions as of today (€ 5.1 billions). Its stock quote reached its highest recent level on June 06, 2008 at US$ 99.79, and its lowest recent point on April 26, 2019 at US$ 10.00. Consol Energy has 223 758 284 shares outstanding. |