ICF: Marcellus, Utica shale gas production continues to grow

ICF International NASDAQ:ICFI, a provider of consulting services and technology solutions to government and commercial clients, has announced its second-quarter 2014 Detailed Production Report. The report provides a complete outlook for US and Canada natural gas, natural gas liquids NGL, and oil production through 2035.The Detailed Production Report contains many findings that will be of interest to oil and gas producers, field services companies, and the investment community. Some projected trends from the current report:Gas production for the Marcellus and Utica shale plays is projected to grow to 34 billion cubic feet Bcf per day by 2035, compared to 25 Bcf per day projected in the first quarter 2014 Detailed Production Report. Utica wells are “more gassy” than initially expected; therefore, gas production growth from the Utica wells is expected to be much greater.Improvements in drilling and hydraulic fracturing technology continue to increase estimated ultimate recovery EUR per well. Recent well statistics reported by producers suggest that newer wells have longer horizontal laterals and more fracture stages. However, gas EUR in Marcellus is projected to average 6.2 Bcf per well compared to 5.2 Bcf per well in the last quarter Report, and the gas EUR in Utica is projected to average 3.3 Bcf per well compared to 2.5 Bcf per well in the last quarter Report.

via ICF: Marcellus, Utica shale gas production continues to grow – Oil & Gas Financial Journal.

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