Production increases while commodity prices remain low
Friday, July 24, 2015
A lower number of drilling rigs no longer means low production, Pittsburgh Post-Gazette PowerSource reports.
The newspaper states that a year ago, there were 20 more rigs. However, production is projected to increase by 4.3 billion cubic feet per day this year. Next year, it’s expected to increase by 1.6t Bcf/d. At the same time, supply growth is likely to decrease.
The increase in production with fewer rigs means that producers are becoming more skilled at extracting more gas with fewer rigs. Pipelines have also made a difference in gas production.
Via: Pittsburgh Post-Gazette PowerSource > Drillers become more efficient in low price environment
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