Energy Production in Utica, Marcellus Expected to Drop in February
YOUNGSTOWN, Ohio – Oil and gas production in the Appalachian Region is expected to decline in February, according to the most recent forecast from the U.S. Energy Information Administration.
Natural gas production in the Appalachian Region – which includes the Utica-Point Pleasant shale play in Ohio and the Marcellus shale in Pennsylvania – is projected to decrease by 118 million cubic feet per day, EIA reported.
January output averaged 33.955 billon cubic feet per day, EIA said, but that number is projected to drop to 33.837 billion cubic feet per day next month.
All of the seven major shale plays with the exception of the Haynesville shale in Louisiana and Texas are projected to reduce natural gas production next month. The Haynesville shale is expected to boost output by 55 million cubic feet per day in February.
Collectively, the shale plays are on track to reduce production by 472 million cubic feet per day next month, EIA said. In January, these shale plays averaged production of 81.076 billion cubic feet per day and an average of 80.604 billion cubic feet per day in February.
All shale plays except Haynesville are anticipated to decrease oil production next month. EIA estimates no change in oil production month-to-month in Haynesville.
Appalachia is likely to drop oil production by 1,000 barrels per day, from 125,000 barrels in January to 124,000 barrels in February, according to EIA estimates.
In all, oil production across the seven shale plays in the U.S. are expected to decline by 89,000 barrels per day, from 7.611 million barrels to 7.522 barrels per day.
Copyright 2022 The Business Journal, Youngstown, Ohio.