Be the first to like this
According to the EIA and ODNR's Division of Oil & Gas Resources....
By 2016, production of NGLs from the Marcellus and Utica shales is expected to reach at least 650,000 barrels per day (bpd ), marking an all-time high for NGL production records
Gas well production from the Marcellus shale play has reached 13 billion cubic feet per day
The 245 wells in the Utica produced a total of 1,332,477 barrels of oil and 33,606,075 thousand cubic feet of natural gas in the third quarter
While there are a total of 285 wells listed in the Utica, 40 of those Utica wells reported no production as they are awaiting pipeline infrastructure
With Natural Gas and NGL production from both the Utica and Marcellus continuing to soar, it has become pertinent for E&P operators to evaluate genuine prospects for capitalizing on these high volumes of production against a backdrop of takeaway infrastructure shortages and low gas prices.
Identifying commercially viable Y-Grade, Ethane and residue gas markets, whilst driving forward the development of sufficient pipeline and rail takeaway capacity is going to be the key to avoid shutting in wells and ensuring Utica and Marcellus Gas, NGL and LNG can still reach optimal markets when price and demand fluctuates.
The 4th Annual Utica and Marcellus NGL & Natural Gas Markets & Takeaway Congress 2014 has been designed to bring together VPs and CEOs from E&P and midstream companies to discuss opportunities for gathering, fractionation, processing and pipeline infrastructure build-out as well as identifying optimal prices for gas, NGL and LNG markets to maximize netbacks in predominantly dry and wet gas producing fields.
E&P speakers including Encore Energy, Consol Energy and Tenaska Resources will provide production updates and forecasts to quantify volumes coming out of the Utica and Marcellus and assess how much extra capacity is needed for takeaway, fractionation and export.
Midstream speakers will provide updates on the latest timings, capacities and locations of takeaway, fractionation and processing construction for facilities that will handle the increased volumes of Natural Gas and NGL in the Marcellus and Utica.