Oil Markets Calm After OPEC Storm

6 Dec 2017   OPEC, Prices

Natural gas production in the Appalachia region (which includes the Marcellus and Utica shales) has increased by more than 14 billion cubic feet per day (Bcf/d) since 2012. That growth has been the main driver behind the growth in total U.S. gas output. – From January through October 2017, total natural gas output from the Appalachia region averaged 23.8 Bcf/d. – Gas output per rig from new wells also shot up in the region over the past few years. Since 2012, average monthly output per rig for new wells increased by 10.8 Mcf/d since 2012, much higher than any other region in the country. Market Movers • ExxonMobil (NYSE: XOM) is considering investments in offshore oil and gas in Egypt, according to Reuters. • CNPC said it discovered a new oil field in the Juggar Basin […]

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