Hubbert's peak oil theory? Another nail in that coffin. Wasn't the Haynesville old and dying? Yeah, I know -- Hubbert -- it was oil ...
From the linked article:
Gas production in the state of Louisiana in the southern U.S. will soon reach record heights thanks to an outstanding resurgence of the Haynesville shale play.Data points:
- the Haynesville Shale alone was able to add 1.85 billion cubic feet per day of gross gas production (Bcfd) between the fourth quarter 2016 and the fourth quarter 2017
- another 1.3 Bcfd was added last year. Production needs to increase by another 700 million cubic feet per day (MMcfd) in order to reach new all-time highs.
- “We conclude that Haynesville Shale’s revival, for the second year in a row, looks sustainable. Supported by its proximity to a new LNG export terminal, gas production will continue to grow, and achieving new all-time high gas production levels should happen within a matter of months,” Rystad Energy