Title : It Just Never Quits -- May 30, 2017 -- Gas Production From The Permian Basin Is Likely To Triple By 2020
link : It Just Never Quits -- May 30, 2017 -- Gas Production From The Permian Basin Is Likely To Triple By 2020
It Just Never Quits -- May 30, 2017 -- Gas Production From The Permian Basin Is Likely To Triple By 2020
From The Wall Street Journal: The oil play that could flood the natural-gas market.Gas output from the Permian basin is likely to surge by 2020, rivaling production from Appalachian Marcellus.
The oil-rich Permian Basin is emerging as a major source of new natural gas, a development that could deepen an existing glut and pressure gas prices for years.The numbers:
The West Texas region has become the most prolific spot for horizontal oil drilling and fracking. The new oil wells also produce natural gas, making it a nearly free byproduct that energy companies can then sell on top of the more-sought-after crude.
Gas production in the Permian Basin is likely to triple by 2020 from its 2010 levels, analysts say. The region is poised to rival new gas output from the Appalachian Marcellus Shale, the U.S.’s biggest gas-producing region.
Gas production in the Permian is expected to increase by 5.5 billion cubic feet a day from the end of last year to reach 12.5 billion cubic feet by the end of 2020, according to energy investment bank Tudor Pickering Holt & Co. in Houston.
The Marcellus, which has long been the fastest-expanding gas field, is likely to add 6.1 billion cubic feet during the same period, not much more than the Permian, though its total production will be two times that of Permian by 2020.
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