Monday, October 01, 2012
WASHINGTON, Oct. 1, 2012 /PRNewswire/ -- Platts, a leading global energy, petrochemicals and metals information provider and top source of benchmark price assessments, today began publishing new assessments for natural gas in North America at locations near the prolific Marcellus and Utica shale basins.
The assessments expand Platts' suite of daily and monthly bidweek prices for the North American physical natural gas markets.
The assessments are for two increasingly important Northeast market hubs:
"These two trading locations reflect the rapidly expanding growth in both the dry-gas and liquids-rich portions of the Marcellus Shale formation and the growing producer interest in the nearby Utica Shale field," said Kelley Doolan, editor-in-chief of Platts Inside FERC's Gas Market Report. "Both sites are becoming hubs for day-ahead and monthly markets."
Natural gas receipts in both pipeline zones have increased sharply year-on-year, on the back of heightened drilling activity in the Marcellus shale area, according to the latest natural gas pipeline flow data from Platts' analytical unit, Bentek Energy. Average year-to-date flows are 1.3 billion cubic feet per day (Bcf/d).
The surge in flow starting in 2011 coincided with the intense drilling activity in the Marcellus that sent Northeast production surging from about 4 Bcf/d in 2010 to a little more than 7 Bcf/d by the end of 2011.
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