Shale Gas Proves More Resilient Than U.S. Government Expected
- Marcellus gas production 2 Bcf a day higher than forecast
- U.S. revised Marcellus output based on latest state data
Thummel: Oil Could Reach $50 By End of 2016
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America’s energy explorers have become so good at pulling natural gas out of the ground that government forecasters are having a hard time figuring out how much they’re producing.
This month, the Marcellus shale formation of the eastern U.S., the country’s biggest gas play, will yield 17.4 billion cubic feet a day, the U.S. Energy Information Administration said Monday. That’s almost 2 billion cubic feet, or 11 percent, more than the agency had forecast last month. It said the field’s output was revised based on more recent production data from Pennsylvania.