•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    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.

     

     

     

    Most Popular

    Related Articles

    Report: US NG prices likely to remain low as supply growth outpaces demand

    08/04/2015 Demand for US natural gas continues to grow but Standard & Poor's Ratings Services expects robust supplies to continue to temper natural gas prices. Increased production will likely continue to...

    DW: China’s economic growth slows as OPEC grows

    08/03/2015

    Douglas-Westwood comments on China’s slowing economic growth, as OPEC grows, in its Aug. 3 DW Monday report.

    Shale oil production in Bakken, Eagle Ford grew slightly in June

    08/03/2015

    Oil production from the Bakken and Eagle Ford shale plays increased marginally in June vs. May, according to Bentek Energy, an analytics and forecasting unit of Platts.

    US oil drillers increase number of rigs despite price collapse

    07/27/2015 Baker Hughes data shows that US oil producers gained a total of 19 oil rigs in the past week, with Texas alone seeing a net gain of eight rigs – proving that operations are moving forward, despite ...

    University of Pittsburgh School of Law launches Energy Law and Policy Institute

    07/27/2015 University of Pittsburgh School of Law has launched the school’s new Energy Law and Policy Institute. Kevin Abbott, senior energy law partner at Reed Smith LLP, adjunct professor, and a 1981 alumnu...

    DW discusses evolution of subsea EPC

    07/27/2015

    Douglas-Westwood has provided commentary on the evolution of subsea engineering, procurement, and construction in the company’s DW Monday report for July 27.

    More Oil & Gas Financial Articles

    Report: US NG prices likely to remain low as supply growth outpaces demand

    Tue, Aug 4, 2015

    Demand for US natural gas continues to grow but Standard & Poor's Ratings Services expects robust supplies to continue to temper natural gas prices. Increased production will likely continue to outpace demand growth, keeping natural gas prices less than $4.00 per MMBtu for the next several years, according to a Standard & Poor's report published Aug. 4 titled "US Natural Gas Prices Will Remain Under Pressure As Supply Growth Continues To Outpace Demand." 

    DW: China’s economic growth slows as OPEC grows

    Mon, Aug 3, 2015

    Douglas-Westwood comments on China’s slowing economic growth, as OPEC grows, in its Aug. 3 DW Monday report.

    Shale oil production in Bakken, Eagle Ford grew slightly in June

    Mon, Aug 3, 2015

    Oil production from the Bakken and Eagle Ford shale plays increased marginally in June vs. May, according to Bentek Energy, an analytics and forecasting unit of Platts.

    US oil drillers increase number of rigs despite price collapse

    Mon, Jul 27, 2015

    Baker Hughes data shows that US oil producers gained a total of 19 oil rigs in the past week, with Texas alone seeing a net gain of eight rigs – proving that operations are moving forward, despite current oil price challenges.

    University of Pittsburgh School of Law launches Energy Law and Policy Institute

    Mon, Jul 27, 2015

    University of Pittsburgh School of Law has launched the school’s new Energy Law and Policy Institute. Kevin Abbott, senior energy law partner at Reed Smith LLP, adjunct professor, and a 1981 alumnus of Pitt Law, will serve as interim executive director of the institute, which will begin operating in fall 2015 and will host its first major conference on energy law in the spring of 2016.

    OGFJ photo of the day


    Click to view slideshow

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ