Permitting, production down in Appalachian Basin
Monday, January 11, 2021
As oil and gas drillers in the Appalachian Basin have been forced to curtail production amid low prices, both permitting and production have seen significant declines, according to Seeking Alpha. Furthermore, the shale basin is expected to see year-over-year declines in production again in 2021.
Nearly all Appalachian producers, including Range Resources, Antero Resources, EQT Corporation and Cabot Oil & Gas, have been forced to curtail production. This has led to wells being shut-in and a major decline in permitting activity. In fact, monthly permit issuance has fallen to levels not seen in more than a decade.
Despite the decline, the Appalachian Basin is still the current king of dry gas production with more than 40% of domestic natural gas sourced in the Marcellus and Utica shales. That percentage has grown year-over-year without fail.
Learn more: Seeking Alpha > Disinterest in Appalachia could mean the rise of Paynesville Shale
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