Constraints noted on US gains in gas production

05/02/2005
US producers expect to continue aggressive natural gas drilling programs this year in response to growing demand and higher commodity prices. But they warn that rising operating costs and the need to drill in increasingly complex formations that yield less gas per well will limit production gains.“To the extent we can do it, the industry is making the most of its opportunities,” said Joseph Blount, chairman of the Natural Gas Supply Association and president of Unocal Midstream and Trade.Citing figures from Oil & Gas Journal’s Capital Spending Outlook, he said that US upstream capital expenditures are expected to grow to $65.9 billion in 2005 from $62.3 billion in 20...
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