Friday, March 01, 2013
While some analysts contend that US shale gas production is a bubble that will soon burst, Bentek Energy projects in a new report that gas output will continue to grow significantly through 2014.
"There are a lot of shops out there that are saying production is going to decline. We take a contrary point of view," Bentek analyst Ryan Smith said Thursday.
In the report, Bentek, a unit of Platts, said it expects 2013 and 2014 “to be more a replay of the past several years’ growth, rather than a reversal."
“Dry gas production growth persists despite gas-directed rig counts down 72% from the peak of 1,054 rigs in September 2009,” it said. “Dry gas production grew by 11.3 Bcf/d, or 15%, between 2009 and 2012, and Bentek expects production to grow another 2 Bcf/d, or 3.1%, to an annual average 65.7 Bcf/d in 2013, and 3.4 Bcf/d more, to an average annual 69.1 Bcf/d by year-end 2014.”
Go to www.platts.com for the complete copy of this article.