Thursday, January 9, 2014

A Picture Saves Me a Thousand Words

But I'll still get a few words in...  I glance at shale gas production data from the EIA every week or so, but the recent update of production through year end 2013 really caught my eye.  EIA presents production data by shale basin (see their chart at bottom of this post), but I took the data to make it more Haynesville-centric (above).  Production in the Haynesville Shale peaked in November 2011 at 7.171 Bcf/day.  As of December 2013, Haynesville production stood at 3.898 Bcf/d, a reduction of 3.272 Bcf/d, or 45.6%.  Haynesville production hasn't been this low since July 2010 when there were far fewer wells pumping (but they were young and pumping hard at the time...).

Back in November 2011 when Haynesville production peaked, the Haynesville Shale represented 41.3% of all shale gas produced in the U.S.  As of December 2013, the Haynesville only represents 13.6% of the national shale gas total.

In 2013, Haynesville production has dropped by 2.009 Bcf/d, or 34.0%.  Over the four months since August 2013, production has dropped 0.67 Bcf/d, or 14.6%.  It's sinking fast, and with the dearth of completions in the second half of the 2013, don't expect that trend to reverse any time soon.

Below is EIA's chart with all of the shale basins.  The Marcellus Shale eclipsed the Haynesville peak in October 2012 and hasn't looked back, now pumping 11.479 Bcf/d.

1 comment:

Anonymous said...

It is amazing to me how completely the Marcellus has taken over the gas market, in terms of being the only basin that's growing much and keeping national gas output at its high level.