Crude, NGLs and natural gas outlook

Natural gas production in the Lower 48 has surged 40% since 2005 – hitting record levels in recent months in spite of low prices and a drilling migration away from dry gas to liquids plays. Following a similar trajectory, NGLs output from gas processing plants jumped 40% since 2009 as drilling for wet gas accelerated. Crude oil production from shale did not take off until the end of 2011 but since then has surged an astronomical 56 percent to 7.8 MMb/d.

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