31 Jan '16, 8pm

Collapse Of Shale Gas Production Has Begun: This is a guest post by Steve St. Angelo of SRSroccoRepo...

Collapse Of Shale Gas Production Has Begun: This is a guest post by Steve St. Angelo of SRSroccoRepo...

As the price of natural gas increased from 2012 to 2014, gas drilling rigs fell 40% from 556 to 333. Furthermore, drilling rigs continued to decline and now are at a record low of 127 . Just as Art Berman stated, the average break-even for most shale gas plays are $6 mmBtu, while only a small percentage of the Marcellus is profitable at $4 mmBtu. Looking at the chart again, we can see that the price of natural gas never got close to $6 mmtu.. the highest was $4.37 mmBtu. Thus, the U.S. Shale Gas Industry has been a commercial failure. Now that the major shale gas producers are saddled with debt and many of the sweet spots in these shale gas fields have already been drilled, I believe U.S. shale gas production will collapse going forward. If we look at the Haynesville Shale Gas Field production profile, a 50% decline in 4 years represents a collapse in my book. The Two Nail...

Full article: http://peakoil.com/production/collapse-of-shale-gas-produ...

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U.S. Shale Gas Production Could Sharply Decline in 2016, World Bank Says

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