GlobalData: Marcellus, Utica shales to see steady growth until 2025
Thursday, February 3, 2022
Natural gas production in the Marcellus and Utica shale plays is expected to rise at a compound annual growth rate of 5.1% to reach 38.3 billion cubic feet of combined output per day by 2025, according to GlobalData, a leading data and analytics company.
“Not only did natural gas appraisal and development evade some of the more devastating impacts COVD-19 had on other areas of the oil and gas industry, but natural gas production in these shales exceeded pre-pandemic levels in 2021, reaching 35 bcfd on an annual basis. In fact, Marcellus and Utica accounted for nearly one-third of the total natural gas production in the U.S.,” Svetlana Doh, Oil & Gas Analyst at GlobalData, said.
Additionally, Crude oil production in the Marcellus shale is expected to reach pre-pandemic levels in 2022 and increase further to 2025. However, crude oil production in the Utica shale is unlikely to recover by 2025.
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.