Natural Gas Industry Poised for Demand Growth, Even While Weathering Downturn
The explosion of natural gas plays has revolutionized the energy sector in America over the last 10 years. Geologic shale formations that were long recognized as fossil-fuel laden remained untapped until horizontal drilling and hydraulic fracturing became viable exploration options.
These shale drilling technologies have brought on the plays of Barnett and Eagle Ford (Texas), Haynesville (Louisiana & Texas), and Marcellus/Utica (Pennsylvania, Ohio, West Virginia), to name a few. With production booming, projections estimate that the U.S. will become a net exporter of natural gas by mid-2017.
As these innovations have opened up vast natural resources in America, they have also brought a host of other problems that now need to be solved. Market forces are struggling to handle the glut of natural gas that is now available, and prices are noticeably down. Who could have imagined a time where production was going so well in the U.S. that the struggle has now become what to do with all of it?
Continue reading this free article, which includes detail on the natural gas-related buildout along the Gulf Coast and the development of the Marcellus and Utica shales, at Industrial Info.