Energy Environmental Blog

Prediction for Near-Term Production

Written by Greg Russell | Dec 7, 2012 12:46:42 PM

Forbes has an interesting article on the possibilities for near-term natural gas production:  "Until recently, it has been hard to get a good view of the supply side dynamics. This is largely because the shale phenomenon is so new that things have taken a while to sort out and for equilibriums to become established. We are now beginning to get a clearer picture.*** In the near term, production figures will continue to rise, even as rig counts start to fall. Bentek, an analyst focusing in this area, predicts that Marcellus production will increase by 78% by 2015. The main reason for the increased production is simple: more than 1000 wills [i.e., wells] drilled over the past year and half have not yet been brought on line. That’s almost a third of the 2,879 wells currently completed in PA."