While shale oil producers might have complained about low oil prices in 2015, operators in the Marcellus and Utica shales had been complaining about low natural gas prices for much longer. But they didn’t sit on the sidelines and nurse their wounds—they got busy figuring out how to do more with less.
The Haynesville and Bossier plays may have recently eclipsed the Utica and Marcellus, at least according to the U.S. Geological Survey estimates of recoverable gas, but they still contain enormous quantities of gas, and Appalachian companies are turning profits even when gas prices remain stubbornly low. Recent estimates indicate these prices could soon near the $3.50/Mcf mark.
Recommended Reading
MethaneSAT: EDF’s Eye in the Sky Targets E&P Emissions
2024-03-07 - The Environmental Defense Fund and Harvard University recently launched MethaneSAT, a satellite tracking methane emissions. The project’s primary target: oil and gas operators.
Exclusive: Scepter CEO: Methane Emissions Detection Saves on Cost
2024-04-08 - Methane emissions detection saves on cost and "can pay for itself," Scepter CEO Phillip Father says in this Hart Energy exclusive interview.
CAPP Forecasts $40.6B in Canadian Upstream Capex in 2024
2024-02-27 - The number is slightly over the estimated 2023 capex spend; CAPP cites uncertain emissions policy as a factor in investment decisions.
Air Liquide to Add CO2 Recycling at Plant in Germany
2024-02-08 - In a supply agreement, Air Liquide and Dow plan to add a new CO2 recycling solution to two air separation units and one partial oxidation plant.
1 Fatality in Equinor Helicopter Training Accident Offshore Norway
2024-02-29 - Equinor employee died following the helicopter accident, the cause of which has not been reported.