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ICF: Marcellus, Utica shale gas production continues to grow

ICF International

ICF International (NASDAQ:ICFI), a provider of consulting services and technology solutions to government and commercial clients, has announced its second-quarter 2014 Detailed Production Report. The report provides a complete outlook for US and Canada natural gas, natural gas liquids (NGL), and oil production through 2035.

The Detailed Production Report contains many findings that will be of interest to oil and gas producers, field services companies, and the investment community. Some projected trends from the current report:

Gas production for the Marcellus and Utica shale plays is projected to grow to 34 billion cubic feet (Bcf) per day by 2035, compared to 25 Bcf per day projected in the first quarter 2014 Detailed Production Report. Utica wells are “more gassy” than initially expected; therefore, gas production growth from the Utica wells is expected to be much greater.

Improvements in drilling and hydraulic fracturing technology continue to increase estimated ultimate recovery (EUR) per well. Recent well statistics reported by producers suggest that newer wells have longer horizontal laterals and more fracture stages. However, gas EUR in Marcellus is projected to average 6.2 Bcf per well compared to 5.2 Bcf per well in the last quarter Report, and the gas EUR in Utica is projected to average 3.3 Bcf per well compared to 2.5 Bcf per well in the last quarter Report.

Resource recovery is expected to be higher than previously projected. Current inter-lateral distance ranges between 1,000 and 1,500 feet, but new pilot tests show 500 to 750 feet between laterals.

ICF experts also project more well completions because of improvements in the number of wells drilled per rig. The number of gas well completions is projected to average about 2,050 wells per year in Marcellus compared to 1,750 wells per year in the last quarter Report and 500 wells per year in Utica compared to 395 wells per year in last quarter’s Report.

 

 

 

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