The Haynesville was producing a daily average of about 11.73 billion cubic feet of natural gas at the start of 2019, and Enverus expects that to climb to about 12.57 billion cubic feet by the end of next year.
In September, the number of rigs drilling wells in the play was down by about 35%, compared to the start of the year — only about half as bad as what has been seen nationally, where the number of working rigs declined by 70%.
While rig activity in the Appalachian fell nearly 50%, the Utica and Marcellus Shale fields held a large number of drilled, uncompleted wells companies are working to bring online. Operators brought 189 of those wells to market by Aug. 19.
Chesapeake whittled away at its number of drilled but uncompleted wells in the Marcellus, taking it from 18 at the start of this year to just four last month.
The average daily production from wells in the Appalachian was 32.72 billion cubic feet at the start of 2019. By the end of 2021, Enverus estimates it will have climbed by more than 2 billion cubic feet daily to 34.91.
Enverus expects cumulative natural gas production across the nation will fall by nearly 4 billion cubic feet over that same time period, from about 96.6 billion to about 92.7 billion cubic feet per day.
While demand for oil-related downstream products like gasoline and jet fuel fell because of the economic lock-down implemented to slow the spread of COVID-19, it remained pretty constant for natural gas used to generate electrical power and other for other industrial-related needs, Sanchez noted.
“And at the end of the day, because natural gas is so seasonal, demand for it will increase this winter," Sanchez said. "The Appalachian and Haynesville basins are the ones that will have to respond."
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September 20, 2020 at 05:00PM
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While oil struggles, natural gas demand and production from the Appalachian and Haynesville basins hangs tough - Oklahoman.com
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