Report: Appalachian Basin impacted less than oil plays during pandemic
Wednesday, June 30, 2021
The Appalachian Basin saw a less drastic change in production and drilling activity than most major oil plays in the United States during the economic downturn caused by the COVID-19 pandemic, according to the USA Marcellus and Utica Shales Market research report.
Forty percent of the natural gas produced in the United States last year was produced in the Appalachian Basin, which includes the Marcellus and Utica shale plays. This region averaged 33.44 billion cubic feet of natural gas per day in 2020, increasing from 32.19 bcfd in 2019. Most of the production came from Pennsylvania, Ohio and West Virginia.
Additionally, the capital expenditures of the top three producers in the Appalachian Basin were not cut back as much as many oil-producing operators, which made cuts of 50-60% in 2020. EQT Corporation only cut its capital by 20%. Antero Resources only cut its capital by 35%. Southwestern Energy only cut its capital by 40%.
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