With natgas poised to overtake oil in the not-so-too-distant future and the possibilities it has in the energy transition, Marcellus and Utica operators and service providers have reasons for optimism.
Hart Energy’s DUG East & Marcellus-Utica Midstream Conference & Exhibition will return to its standard in-person format December 6-8, 2021 at the David L. Lawrence Convention Center!
If anyone thought the Marcellus and Utica were in danger of slowing down in the wake of the pandemic and the energy transition ahead, think again. Dry natural gas production from shale formations in the Appalachian Basin set new record highs during the first half of the year, the Energy Information Administration (EIA) reported Sept. 1. Thanks to increased takeaway capacity, especially to the Midwest, the Marcellus and Utica averaged 31.9 Bcf/d during the first half of 2021—the highest average for a six-month period since production began in 2008.
The sibling plays are also poised to benefit from the energy transition. According to a DNV forecast in its Energy Transition Outlook 2021, also released Sept. 1, natural gas will overtake oil in 2032 and retain the top spot among primary energy sources through 2050.
The natgas plays also stand to benefit from a future-focused on hydrogen and other no- and low-CO2 fuel. GlobalData said that it expects annual production of blue hydrogen to nearly triple to 1.4 million tons by 2030, accounting for 85% of the low-carbon North American hydrogen market.
Indeed, the future is bright for the Appalachian Basin, and the DUG East and Marcellus-Utica Midstream Conference & Exhibition is your chance to learn how to get ahead of curve.