Dozens of US independents have decided to slow or halt their drilling for natural gas, but the gas just keeps coming.
A Platts analysis shows that while independent exploration-and-production companies cut their ratio of gas to oil and liquids by an average of 14 percentage points between the third quarters of 2008 and 2013, their overall gas production grew 68%.
Platts examined the results of 32 drillers included in the basket of stocks making up the Standard & Poor’s Oil & Gas Exploration and Production Index, the bulk of which were once gas-focused independents.
Twenty-six of the 32 firms saw a decline in the percentage of gas in their overall supply mix. Yet US gas output soared by about 12 Bcf/d during that time, according to the US Energy Information Administration.
SOURCE: Platts, 2013