Shale: What You May Not Know
e U.S. natural gas industry is going through a radical change. A recent report
from energy analytic firm Bentek Energy highlighted just how big the
transformation will be in the next few years.
Report: Son of a Beast: Utica Triggers Regional Role Reversal, Oct 2013,
“Based on our latest modeling, the U.S. is embarking on a true sea change”
Bentek director of energy analysis and lead author of the report
According to the report, gas production from the entire Northeast has climbed
more than 500 percent since 2005, largely due in part to the Marcellus Shale in
Pennsylvania and West Virginia and the Utica Shale in southeastern Ohio.
ere are several regions spanning the United States that are laying the
groundwork for this change.
Utica Shale drilling and production began in southeastern Ohio in 2011. While
the prospective Utica area extends into Pennsylvania and West Virginia, most
activity has been in Ohio, because the Ohio portion is believed to be richer in
oil, condensate, and natural gas liquids.
Spanning 104,000 square miles, this formation stretches across Pennsylvania
and West Virginia, and into southeast Ohio and upstate New York. It is
currently the largest source of natural gas in the United States.
Barnett Shale primarily located in Fort Worth, Texas was the most productive
source of shale gas from 2002 to 2010. It is now third, behind the Marcellus
Formation and the Haynesville Shale. In January 2013, the Barnett produced
4.56 billion cubic feet per day, which made up 6.8 percent of all the natural gas
produced in the US.
Eagle Ford Shale
Located in LaSalle County, Texas, the first well to produce oil and gas was
drilled in 2008. In the first six months of 2013, the Eagle Ford produced 2.69
billion cubic feet of gas and 599,000 barrels of oil and condensate per day; the
oil production represented an increase of 51 percent over the average for 2012.
North Dakota is home to the Bakken formation, one of the most important
sources of oil in the United States. While most drilling has been in North Dakota,
the play also extends into Montana, Saskatchewan, and Manitoba. In July 2013,
Bakken wells produced a total of 811,000 barrels of oil per day. As a result, North
Dakota is the second largest oil-producing state in the US, behind Texas.
Want to learn more about the Ohio shale industry? Visit advwealthpartners.com to
see all of our posts, or contact Brent Markley at firstname.lastname@example.org to learn
more about your investment opportunities.