27 NOVEMBER 2022 WorldWide Drilling Resource® U.S. On Target to Become the World’s Largest Gas Producer Adapted from Information by Rystad Energy According to analysis by Rystad Energy, U.S. natural gas production is expected to hit an all-time high this year, blasting past 100 billion cubic feet per day (Bcfd), helping feed global demand as the world faces a severe supply shortage. Production growth from the Haynesville andAppalachia Basins, in addition to the associated gas volumes from the Permian Basin, will solidify the country’s position as the world’s largest gas producer, stretching its lead over Russia, and surpassing the official growth expectations of the EIA (Energy Information Administration). The Marcellus, Utica, and Haynesville shale gas plays are on track to contribute the most, while growth in the Appalachia Basin is entirely dependent on the progress of the proposed Mountain Valley Pipeline. Production from the Haynesville alone is expected to grow by a staggering 2.6 Bcfd this year compared to 2021, pushing annual output from the play to more than 14 Bcfd. Total production from the basin is also forecast to jump next year, reaching 17.2 Bcfd by the end of 2023. Elsewhere in the country, gas production from the Woodford Basin could also contribute major growth to total output in 2023, with a 1 Bcfd expansion not off the table. “Already the top gas producer in the world, the U.S. stands ready to boost output further to meet the global demand, but takeaway constraints are a serious risk. However, with new LNG [liquified natural gas] capacity expected to be added after 2024, the U.S. is set to grow its role in global gas markets for some time to come,” said Kristine Vassbotn, Rystad Energy senior analyst. Groundwater Week Booth 158 G&O Rystad Cont’d on page 34.
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