Shepstone Management Company, Inc.
The latest data from the Energy Information Administration depicts an Appalachian miracle. The shale revolution has revitalized rural and urban areas alike.
The EIA’s “Monthly Crude Oil and Natural Gas Production” report for October, 2018 is out and one map, one chart and one table tell the wonderful story of the shale revolution. It is a glorious one, indeed.
Let’s start with the chart. It’s really a map:
The thing to notice about this map is this; pre-2015, the EIA only kept detailed track of natural gas production in five states. Those were Texas, Oklahoma, Louisiana, New Mexico and Wyoming. Then came the Appalachian miracle and the companion Bakken miracle, both a result of the glorious shale revolution as fracking combined with horizontal drilling changed the game forever.
Here’s how natural gas production stacks up today, a decade or so into the shale revolution:
Yes, Pennsylvania added nearly 20% more in natural gas production than Texas. It is the No. 2 producer and will overtake Texas in 2022 at this rate. Ohio and West Virginia are adding more gas proportionally than Texas, as is North Dakota. It’s the shale revolution, baby!
This chart, also prepared from EIA data, shows what’s happened since the shale revolution was unleashed:
Just amazing. After decades of wondering how to make it happen, it has, all by itself, thanks to technology. Thank fracking.