So what is the implication of this - from last October, at that:
As the Barnett Shale's Production Peaks, Economic Factors Weigh Heavily on Its Future-- Page:2$this->bbcode_second_pass_quote('', ' ')For those that drill in urban areas or where the shale is thin, sustained prices below $6 or $7 per million British thermal units might trigger a halt.
In the core area of the play, where the shale is thick and rich with gas, a producer might not worry until prices hit $5 per million Btu.
"Most of the people talking about the Barnett Shale rolling over in the next while, I think that might reflect their own assets, their own acreage positions," said John Richels, president of Devon Energy Corp., the largest and one of the earliest producers of the Barnett Shale.
As an early pioneer, Devon leased land in the sweet spot of the play, in rural areas in Denton, Parker, Johnson, Tarrant and Wise counties.
Devon paid less for its leases than other companies and hasn't faced as much drilling protest as those companies working in urban areas.
Mr. Richels expects Devon to double its production in the next few years. He's more optimistic than some of his peers.
But even Mr. Richels agrees that lower natural gas prices will constrict drilling budgets in the industry.
'One more year'
"Our view is that the Barnett Shale, as an aggregate, probably has one more year of decent growth, and that's 2009," said Mark Papa, chief executive of EOG Resources, a Barnett Shale production company.
"By year-end 2009, we believe Johnson County is going to be pretty well drilled up by all operators," Mr. Papa told analysts in July.
"That's going to remove a lot of the thrust."
Other production company brass put the peak a year or two later, but most agree that the natural gas field may have only a few more years of growth.
Already data from the Railroad Commission show production has been declining nearly every month this year.
. So the #3 operator in this area has already tapped out the potential of a major sector? And this resource is supposed to last us for centuries?