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Bullboard - Stock Discussion Forum Nuvista Energy Ltd T.NVA

Alternate Symbol(s):  NUVSF

NuVista Energy Ltd. is an oil and natural gas company, which is engaged in the exploration for, and the development and production of, oil and natural gas reserves in the Western Canadian Sedimentary Basin. Its primary focus is on the scalable and repeatable condensate rich Montney formation in the Alberta Deep Basin (Wapiti Montney). Its core operating areas of Wapiti and Pipestone in the... see more

TSX:NVA - Post Discussion

Nuvista Energy Ltd > EIA: Appalachian Natural Gas Output Stagnated in 2022 on Pen
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Post by Carjack on Jul 13, 2023 2:44am

EIA: Appalachian Natural Gas Output Stagnated in 2022 on Pen

(Reuters) — Natural gas production in the Appalachian Basin, which accounts for a majority of U.S. output, was nearly flat last year as drilling efficiency at Pennsylvania's wells dropped for the first time since 2013, the U.S. Energy Information Administration (EIA) said on Wednesday.

The declines were fueled by lower production from four key Pennsylvania counties — Susquehanna, Washington, Bradford, and Greene — that contributed to 40% of the natural gas produced in the basin in 2022, the EIA said.

Appalachian output in 2022 fell by 3% or 0.4 billion cubic feet per day (Bcf/d) to 13.9 Bcf/d compared with the year before, the agency said.

A billion cubic feet is enough gas to supply about five million U.S. homes for a day.

Growth has slowed in Appalachia because it has been increasingly difficult for energy firms to build new pipelines to move gas out of the Pennsylvania, Ohio and West Virginia region.

For 2023, the EIA on Tuesday forecast U.S. natural gas production and demand to rise to record highs.

Appalachian output comes primarily from Pennsylvania, Ohio, and West Virginia, with additional production from parts of New York, Kentucky, Tennessee, Virginia, and Alabama, the EIA said.

 
Comment by Oldnagger on Jul 13, 2023 9:57am
The next Drilling Productivity Report is scheduled for July 17. It will make  forecasts for August . I expect it to be very interesting as I expect production in all regions will be down due to lower rig counts decreasing productivity and fewer frac spreads. This could be a significant event as it will cause all the speculative shorts to re-evaluate their strategy. Many are already doing so ! ...more  
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