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Tag Archives: EIA

Market Realist: Marcellus Shale production stays steady

The Energy Information Association (EIA) estimates that the Marcellus Shale’s natural gas production totaled 18.1 Bcf (billion cubic feet) per day in October, says Market Realist. That’s only marginally lower than September but up 9 percent from October 2015. Month-over-month, natural gas production growth in the Marcellus Shale has been relative steady in the past year. While the rig count ...

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Half of continental U.S. oil production comes from new wells

Half of continental U.S. oil production comes from new wells

About half of the oil produced in the continental United States last year came from wells drilled after January 2014, according to the U.S. Energy Information Administration. The data provides insight into the importance of short-cycle shale production and advances in oil industry technologies. Many companies are targeting short-cycle investments, lower-cost projects that take months, rather than years, to come ...

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EIA forecasts short-term energy outlook

EIA forecasts short-term energy output

The U.S. Energy Information Administration released its short-term energy outlook Tuesday. The report forecasts oil and natural gas production for the next two years. North Sea Brent crude oil prices averaged $32 per barrel, a $1 increase from January prices. Brent crude prices are predicted to average $34 in 2016 and $40 in 2017. The forecast reflects higher –than-expected oil ...

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EIA: Consumption will drive natural gas prices up

EIA: Consumption will drive natural gas prices up

Natural gas prices are expected to rise, according to the EIA’s latest Short-Term Energy Outlook report. The average natural gas spot price at the benchmark Henry Hub for December 2015 was $1.93 per million British thermal units. That’s the lowest monthly average since March 1999. In the January report, the Nymex futures strip averaged $2.50/MMBtu for 2016 and $2.80/MMBtu for ...

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U.S. crude stocks probably dipped last week

U.S. crude stocks probably dipped last week

U.S. commercial crude oil stocks probably dipped last week, while distillate and gasoline stocks likely edged higher, a preliminary Reuters survey showed on Monday. The poll of five analysts, taken ahead of weekly inventory reports from industry group American Petroleum Institute (API) and the U.S. Department of Energy’s Energy Information Administration (EIA), estimated, on average, that crude stocks were down ...

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Low gas prices ‘not good for anybody’

At least 26 states, including Arkansas and Oklahoma, are paying less than $2 for a gallon of gas, and the national average is the lowest it’s been since 2009. While low gas prices are viewed largely as good for the consumer on a tight budget, the low oil prices have shuttered thousands of jobs in the United States. “It’s not ...

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Eagle Ford Shale remains bright spot, adds drilling

While the nation is experiencing a drop in the number of active oil and gas rigs, Eagle Ford Shale remains a bright spot in the industry. A Baker Hughes rig count shows that new drilling in the Eagle Ford Shale rose to 75 active rigs. New drilling fell to 225 rigs in the Permian Basin, but rose to eight in ...

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Shale gas production drives increased market demand for propane, butane, and ethane product analysis

HOUSTON (Oct. 15, 2015) – Inspectorate, leaders in testing and inspection for the oil and gas industry, is expanding its Liquefied Petroleum Gas (LPG) testing capabilities in North America to meet an increasing market demand for the analysis of propane, butane and other LPG products developed in areas where prominent crude supply and natural gas streams exist. The Marcellus and ...

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Oil down about 2 percent after large U.S. crude build

NEW YORK – Oil prices fell about 2 percent or more on Thursday after the U.S. government reported a larger-than-expected crude stockpile build, although a big drawdown in gasoline helped limit some of the market’s downside. The Energy Information Administration (EIA) said crude inventories rose by 7.6 million barrels for the week ended Oct 9. [EIA/S] That was more than ...

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