Extending the Reach: Meeting Global Demand
The historic rise of the world's top natural gas-producing region isn't going to end anytime soon. Just four years ago, Marcellus natural gas production was 2 Bcf/d. Later this year, production is expected to surpass 16 Bcf/d. According to experts at Wood Mackenzie, there's still about $90 billion to be made by tapping into the region’s vast reserves. At the peak of activity between 2018 and the early 2020's, they predict companies will drill 2,600 wells per year in the Marcellus, up from about 1,400 this year. These new wells will drive production up by nearly 25% to 20 Bcfe/d by 2020.
And with recent "monster-well" announcements from Magnum Hunter Resources and Shell, experts say the Utica has the potential to be even larger. Magnum recently certified the biggest Utica well in history, which produced 46.5 Mcf/d of natural gas. And Shell's key discoveries outside of the Utica's mainstay in eastern Ohio indicate the pay zone extends much further than originally expected.
There's no shortage of natural resources or drilling activity. But, a lack of midstream takeaway infrastructure continues to suppress prices. New pipelines are coming online this year, but more development is needed. Which projects will move forward? And how can your company capitalize on the need for midstream investment in the Northeast? The 2015 Marcellus-Utica Midstream conference and exhibition will address these topics and more.
With more than 1,800 attendees and over 200 exhibitors and sponsors, the Marcellus-Utica Midstream conference and exhibition is Appalachia's premier midstream event. Each year key decision makers and stakeholders from the financial community, producers, pipeline operators, contractors and service providers gather to review metrics and options at the Marcellus-Utica Midstream event. Register today to access everything you need to succeed in the region. With all the current activity and the future planned activity, the 2015 event promises to be one of the best business investments you can make.
Key North American Hub Prices: December 17, 2014
New York Governor To Ban Fracking After Health Department Calls It Unsafe