| Utica Shale Gas Production Sees Fastest Growth in March | |
| | |
|
March Production Rises at Key Shales, but Slowdown May Be Coming (Part 6 of 8) (Continued from Part 5) The Utica Shale
According to the U.S. Energy Information Administration (or EIA), the Utica Shale in eastern Ohio has become one of the fastest growing gas-producing regions in the United States. In its Drilling Productivity Report (or DPR) released on April 13, 2015, the EIA estimates that in March, the Utica Shale produced 1.92 billion cubic feet per day (or Bcf/d) of natural gas. This is 3.8% more than production in February and 140% higher than a year ago.
Major energy producers in the Utica Shale include Chesapeake Energy Corporation (CHK), CONSOL Energy (CNX), and Range Resources Corporation (RRC). Higher Utica Shale gas production will also benefit midstream operators such as Williams Partners (WPZ), an MLP. WPZ is 7.3% of the Alerian MLP ETF (AMLP).
In the past eight years, natural gas production at the Utica Shale increased more than 11 times.
According to Baker Hughes, there are currently 18 rigs operating in the Utica Shale. In comparison, 24 rigs were in operation there a year ago.
Natural gas production per rig
Drilling efficiency has increased phenomenally in the Utica Shale. From March 2007 to March 2015, natural gas production per rig increased to 4.8 million cubic feet per day (or MMcf/d) from 0.1 MMcf/d, an increase of 40 times.
In the next part of this series, we’ll take a look at natural gas production at the Haynesville Shale.
Continue to Part 7 Browse this series on Market Realist:
|
|
|
Chesapeake Energy Corporation
|
|
EN DÉVELOPPEMENT |
CODE : CHK |
ISIN : US1651671075 |
|
| |
ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Chesapeake Energy est une société de production minière basée aux Etats-Unis D'Amerique. Chesapeake Energy est en développement de projets de gaz et de pétrole en USA. Son principal projet en développement est DEEP BOSSIER en USA. Chesapeake Energy est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 80,8 milliards US$ (70,8 milliards €). La valeur de son action a atteint son plus bas niveau récent le 13 mars 2020 à 0,12 US$, et son plus haut niveau récent le 18 novembre 2022 à 99,94 US$. Chesapeake Energy possède 909 242 558 actions en circulation. |