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
The One Where EOG’s Stock Tanked
2024-02-23 - A rare earnings miss pushed the wildcatter’s stock down as much as 6%, while larger and smaller peers’ share prices were mostly unchanged. One analyst asked if EOG is like Narcissus.
E&P Earnings Season Proves Up Stronger Efficiencies, Profits
2024-04-04 - The 2024 outlook for E&Ps largely surprises to the upside with conservative budgets and steady volumes.
Uinta Basin: 50% More Oil for Twice the Proppant
2024-03-06 - The higher-intensity completions are costing an average of 35% fewer dollars spent per barrel of oil equivalent of output, Crescent Energy told investors and analysts on March 5.
Bobby Tudor on Capital Access and Oil, Gas Participation in the Energy Transition
2024-04-05 - Bobby Tudor, the founder and CEO of Artemis Energy Partners, says while public companies are generating cash, private equity firms in the upstream business are facing more difficulties raising new funds, in this Hart Energy Exclusive interview.
Oil and Gas Chain Reaction: E&P M&A Begets OFS Consolidation
2024-04-26 - Record-breaking E&P consolidation is rippling into oilfield services, with much more M&A on the way.