Marcellus Shale Well Costs and Marcellus Shale Well Costs and Production Production UMRA Watersheds Group Meeting UMRA Watersheds Group Meeting December 3, 2010 December 3, 2010 Morgantown, WV Morgantown, WV Katharine Lee Katharine Lee Avary Avary Petroleum Geologist Petroleum Geologist Morgantown, WV Morgantown, WV [email protected] [email protected]
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Marcellus Shale Well Costs andMarcellus Shale Well Costs andProductionProduction
UMRA Watersheds Group MeetingUMRA Watersheds Group MeetingDecember 3, 2010December 3, 2010Morgantown, WVMorgantown, WV
Katharine LeeKatharine Lee AvaryAvaryPetroleum GeologistPetroleum Geologist
Morgantown, WVMorgantown, [email protected]@gmail.com
UnitsUnits
►►McfMcf= One thousand cubic feet= One thousand cubic feet►►MMcfMMcf=One million cubic feet=One million cubic feet►►BcfBcf=One billion cubic feet=One billion cubic feet
►►What do these mean to you? I use 1What do these mean to you? I use 1--22McfMcf/month in the summer for cooking and/month in the summer for cooking andwater heating and 25water heating and 25--3030 McfMcf/month during/month duringthe winter heating season.the winter heating season.
From: http://fuelfix.com/energywatch/2010/11/29/houston-nat-gas-bills-may-drop-20-percent/
Natural Gas PricesNatural Gas Prices
From: http://www.eia.doe.gov/oog/info/ngw/ngupdate.asp
From: http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9Njc1NzZ8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1
From: http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9Njc1NzZ8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1
From: http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9Njc1NzZ8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1
From: http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9Njc1NzZ8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1
From: http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9Njc1NzZ8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1
From: http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9Njc1NzZ8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1
From: http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9Njc1NzZ8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1
From: http://files.shareholder.com/downloads/EQT/1072302134x0x416551/0456448f-369a-4f01-89d0-3a42dfa0acec/November%20-%20Analyst%20Presentation.pdf
From: http://files.shareholder.com/downloads/EQT/1072302134x0x416551/0456448f-369a-4f01-89d0-3a42dfa0acec/November%20-%20Analyst%20Presentation.pdf
From: http://files.shareholder.com/downloads/EQT/1072302134x0x416551/0456448f-369a-4f01-89d0-3a42dfa0acec/November%20-%20Analyst%20Presentation.pdf
From: http://files.shareholder.com/downloads/EQT/1072302134x0x416551/0456448f-369a-4f01-89d0-3a42dfa0acec/November%20-%20Analyst%20Presentation.pdf
From: http://files.shareholder.com/downloads/EQT/1072302134x0x416551/0456448f-369a-4f01-89d0-3a42dfa0acec/November%20-%20Analyst%20Presentation.pdf
From: http://files.shareholder.com/downloads/EQT/1072302134x0x416551/0456448f-369a-4f01-89d0-3a42dfa0acec/November%20-%20Analyst%20Presentation.pdf
WV DEP Office of Oil & Gas WellWV DEP Office of Oil & Gas WellStatus 11/30/2010Status 11/30/2010
Abandoned 12,211
Active 58,797
Never Drilled 12,114
Plugged 20,959
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
Aband
oned
Aband
oned/O
rdere
d
Aband
oned/P
lugged
Active
Drilling
Futur
e Use
Mine Ven
t Well
Never
Drilled
Never
Issued
Plugged
Under
Con
struc
tion
Num
ber o
f Wel
ls
Total: 105,872 wellsFrom: http://apps.dep.wv.gov/oog/wellsearch_new.cfm
WV DEP Office of Oil & Gas WellWV DEP Office of Oil & Gas WellType 11/30/2010Type 11/30/2010
0
10,000
20,000
30,000
40,000
50,000
60,000
Brinedisposal
Commercialbrine
disposal
Coalbedmethane
Gas Gob House gas Mine vent Observation Oil Secondaryrecovery
Solutionmining
Storage Water Supply
Num
ber o
f wel
ls
number of w ells number of active w ells
Gas 56,645
Oil 4,871Total 67,148 wells
From: http://apps.dep.wv.gov/oog/wellsearch_new.cfm
0
500
1,000
1,500
2,000
2,500
3,000
3,500
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Year
Num
ber o
f per
mits
issu
ed
WV DEP Office of Oil & Gas WellWV DEP Office of Oil & Gas WellNumber of Permits* Issued per yearNumber of Permits* Issued per year
as of 11/30/2010as of 11/30/2010
* Permits for all types of well work including drilling new wells, and deepening,fracturing or plugging existing wells
From: http://apps.dep.wv.gov/oog/wellsearch_new.cfm
Marcellus wells permitted in WVMarcellus wells permitted in WV
0
100
200
300
400
500
600
700
800
900
pre-2006 2006 2007 2008 2009 2010-1Q
Source: WVGES WVDEP OOG 347 permitted YTD
Annual and Cumulative WV MarcellusAnnual and Cumulative WV MarcellusGas ProductionGas Production
0
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
30,000,000
35,000,000
2005 2006 2007 2008 2009
Year
Annu
al P
rodu
ctio
n, M
cf
0
10,000,000
20,000,000
30,000,000
40,000,000
50,000,000
60,000,000
70,000,000
Cum
ulat
ive
Prod
uctio
n, M
cf
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