{"id":13372,"date":"2014-09-03T14:02:22","date_gmt":"2014-09-03T14:02:22","guid":{"rendered":"http:\/\/independentweekender.com\/?p=13372"},"modified":"2014-09-03T14:02:22","modified_gmt":"2014-09-03T14:02:22","slug":"analyst-90b-remains-in-marcellus","status":"publish","type":"post","link":"https:\/\/www.greenstreetdata.com\/PS\/2014\/09\/03\/analyst-90b-remains-in-marcellus\/","title":{"rendered":"Analyst: $90B remains in Marcellus"},"content":{"rendered":"

BY BRENDAN GIBBONS<\/strong>
\n Times-Shamrock Writer<\/strong><\/p>\n

About $90 billion of value remains in the Marcellus Shale, according to international energy, mining and metals analytical firm Wood Mackenzie.<\/p>\n

That estimate factors in the potential revenue from marketing the gas, minus development costs. The Houston-based firm expects the top 20 operators in the Marcellus to drill 25,000 wells through 2035.<\/p>\n

Senior analyst Jonathan Garrett said the firm developed that number by analyzing a variety of different variables, including state data on production and decline curves, geological data, a proprietary economic model and industry data on well costs, among others.<\/p>\n

Improved efficiency has moved the industry\u2019s costs down. Well pad development is the main driver behind this increase in efficiency, Garrett said. It\u2019s a trend Wood Mackenzie sees across all unconventional plays in the U.S.<\/p>\n

\u201cInstead of drilling one well by itself, you\u2019re drilling in small batches,\u201d Mr. Garrett said.<\/p>\n

Increased use of water and proppant, the sand used hydraulic fracturing, are also boosting productivity in the Marcellus, he said.<\/p>\n

A graphic Wood Mackenzie released Wednesday shows the median amount of water used in southwestern Susquehanna County and northwestern Wyoming County wells increased from around 5 million gallons per well in 2009 to around 7 million gallons in 2013, with some operators using up to 13 million gallons.<\/p>\n

The median use of sand has increased from around 5 million pounds per well to around 13 million pounds, the graphic shows. The range has also increased \u2014 some operators continue to use around 5 million, while others use around 20 million.<\/p>\n

Longer lateral lengths are also boosting productivity, Mr. Garrett said. A lateral is the horizontal part of an unconventional well. Operators in the Marcellus use longer laterals than any other tight gas play in the U.S., he said, though Bakken Formation oil wells use the longest lateral on average of any unconventional play.<\/p>\n

In April, Wood Mackenzie estimated the remaining value of North Dakota\u2019s Bakken at $118 billion.<\/p>\n

For now, Wood Mackenzie predicts operators will focus on their best-performing dry gas acreage in Northeast Pennsylvania and the more profitable wet gas region of Southwest Pennsylvania and Northwest West Virginia.<\/p>\n

Higher gas prices could lead to a focus on less productive acreage.<\/p>\n

\u201cAs prices rise, more of the play moves into the money,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"

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