Natural Gas Outlook

John HarpoleFounder and Owner

Mercator Energy

The End of Scarcity?

Natural Gas Outlook

By:John Harpole

Presentation to:The Fertilizer Outlook and Technology Conference

Jacksonville, FL

November 11, 2015

Conclusions from November 20, 2013

• U.S. continues to produce more gas, shale gas revolution was too successful, end-users will benefit

• During the next 3 years, supply will likely exceed demand

• Prices will remain in the $3.50 to $4.75 range, with short period above and below that band during adjustments

• Long term prices depend on demand growth. Without demand growth, supply will continue to be long and prices relatively low.

• A significant demand response can’t occur for at least 3-5 years

3

4

The Big Question• What issues will have the greatest impact

on North American natural gas prices in the next 5 years?

5

The Big Three Issues to Watch

1. Global Oil Price Recovery2. Marcellus and Utica Shale Production3. U.S. LNG Exports

6

1. Global Oil Price Recovery

7

The Big Three Issues to Watch

What Happened?

• Thanks to American ingenuity and private property ownership of minerals, the world should/will no longer live under the threat of energy insecurity.

• Energy once scarce, is now super-abundant and that reality will continue to change the world as transportation issues are remedied.

8

Traditional Wells Horizontal Drilling

Horizontal Drilling

9Source: “The natural gas revolution and energy self-reliance in North America,” Don McClure, Encana, March 26, 2013

10

Hydraulic FracturingPumping fluid under high pressure to fracture formation

Hydraulic Fractures

Creates fracture “highway” for gas to be rapidly produced from formation

10Source: “The natural gas revolution and energy self-reliance in North America,” Don McClure, Encana, March 26, 2013

Fracturing Application Exploded

Source: Chris Wright, Liberty Resources Tuesday Lunch Club Presentation, 3/5/13

12

10-fold growth in 10 years

Source: Chris Wright, Liberty Resources Tuesday Lunch Club Presentation, 3/5/13

13

Source: “Oil and Natural Gas Booms on Private and State Lands,” Institute for Energy Research, April 14, 2015

14

Source: “Oil and Natural Gas Booms on Private and State Lands,” Institute for Energy Research, April 14, 2015

15

16Source: Raymond James U.S. Research Energy Report, January 12, 2015

The House of Saud’s Motivation

Major Takeaways• Crude oil prices are depressed due to the current global

oversupply.

• The crude oil oversupply will take betweeen1 to 3 years to correct, unless a major structural event takes supply out (OPEC, etc.)

• Marginally economic areas across the U.S. will be negatively impacted. Geography and crude quality can tip the sales either way.

• Natural gas drilling that was dependent on the value of natural gas liquids has been negatively affected

• North American LNG exports could also be affected.

17Source: The Outlook for U.S. Crude: Implications for Colorado, Bernadette Johnson, Ponderosa Advisors

The U.S. has experienced a rapid increase in natural gas and oil production from shale and other tight resources

18

Sources: EIA derived from state administrative data collected by DrillingInfo Inc. Data are through April 2014 and represent EIA’s official tight oil & shale gas estimates, but are not survey data. State abbreviations indicate primary state(s).

IAEE International ConferenceJune 16, 2014 18

Source: U.S. oil and natural gas outlook, Adam Sieminski, EIA Administrator, Presentation to IAEE International Conference, June 16, 2014

Chart1

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U.S. tight oil productionmillion barrels of oil per day

Monterey (CA)

Austin Chalk (LA & TX)

Granite Wash (OK & TX)

Woodford (OK)

Marcellus

Haynesville

Niobrara-Codell (CO, WY)

Yeso-Glorieta (TX & NM Permian)

Delaware (TX & NM Permian)

Wolfcamp (TX & NM Permian)

Bonespring (TX & NM Permian)

Spraberry (TX & NM Permian)

Bakken (MT & ND)

Eagle Ford (TX)

0.062437

0.069073

0.006521

0.000386

0.000001

0.002928

0.015159

0.031985

0.036479

0.009375

0.076869

0.021672

0.000008

0.061754

0.069234

0.006653

0.000359

0.000001

0.003282

0.015018

0.032457

0.037358

0.009166

0.077017

0.020328

0.000003

0.061122

0.066784

0.006168

0.000337

0.000003

0.002916

0.015192

0.033002

0.037752

0.009016

0.075276

0.019836

0.000007

0.060784

0.067838

0.006481

0.000352

0.000001

0.00294

0.015273

0.033119

0.040309

0.009936

0.075452

0.020105

0.000003

0.06108

0.06622

0.006249

0.000347

0.000001

0.00281

0.01485

0.033145

0.039826

0.009459

0.074332

0.019256

0.000005

0.059712

0.065437

0.006037

0.000318

0.000001

0.002801

0.014496

0.033345

0.039394

0.009176

0.073622

0.018929

0.000005

0.058459

0.061898

0.00619

0.000311

0.000001

0.00265

0.014108

0.032722

0.039712

0.009782

0.072391

0.018677

0.000006

0.058423

0.062229

0.006121

0.000294

0.000001

0.002682

0.014389

0.032404

0.041339

0.009201

0.072839

0.018315

0.000004

0.058385

0.061021

0.005912

0.000338

0.000001

0.002713

0.014199

0.032919

0.041

0.008953

0.073847

0.018576

0.000004

0.058477

0.061683

0.006015

0.000328

0.000001

0.002766

0.015817

0.034178

0.042014

0.009594

0.075396

0.018345

0.000004

0.057965

0.059059

0.006073

0.000338

0.000001

0.002865

0.015567

0.033996

0.038919

0.009404

0.075928

0.018461

0.000004

0.060154

0.056279

0.005529

0.000303

0.000001

0.002777

0.015325

0.033728

0.038203

0.009543

0.075139

0.017734

0.000005

0.061483

0.057398

0.005849

0.000282

0

0.002854

0.01648

0.033892

0.038749

0.009401

0.077693

0.017391

0.000004

0.063108

0.057517

0.005937

0.00008

0

0.003055

0.015632

0.034761

0.038355

0.009395

0.076329

0.0171

0.000004

0.062521

0.056027

0.006176

0.000341

0

0.003016

0.016436

0.03341

0.038964

0.009257

0.076464

0.017474

0.000005

0.062179

0.056196

0.006418

0.000332

0

0.00289

0.016371

0.03432

0.037159

0.009692

0.074702

0.017111

0.000002

0.061179

0.055985

0.005996

0.000359

0.000002

0.002794

0.016463

0.033992

0.036426

0.009536

0.074683

0.017106

0.000007

0.059595

0.054345

0.005965

0.000361

0.000003

0.002567

0.01583

0.034381

0.036468

0.009229

0.074484

0.016571

0.000005

0.061739

0.054831

0.005953

0.000348

0

0.00283

0.016491

0.034167

0.036557

0.009368

0.073933

0.016128

0.000005

0.062398

0.054715

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0.003259

0.001827

0.00159

0.049341

0.038344

0.034427

0.01767

0.136661

0.201265

0.007723

0.042451

0.034755

0.034276

0.003583

0.001966

0.001694

0.050892

0.039902

0.035934

0.018752

0.141062

0.22011

0.007489

0.044064

0.034722

0.036496

0.003582

0.002182

0.001656

0.051109

0.041123

0.036252

0.019125

0.142775

0.235873

0.012198

0.042888

0.034056

0.037552

0.003932

0.002203

0.001575

0.050557

0.039177

0.036212

0.019132

0.146078

0.243307

0.015326

0.04323

0.035267

0.039306

0.004193

0.002798

0.001402

0.051175

0.042186

0.037614

0.020292

0.152123

0.258638

0.019229

0.041721

0.0353

0.038745

0.006128

0.002979

0.001284

0.049444

0.041994

0.038888

0.019102

0.15414

0.274796

0.025076

0.042579

0.035526

0.038838

0.005974

0.002271

0.001259

0.045171

0.04271

0.040314

0.019914

0.160678

0.283281

0.029673

0.043629

0.035342

0.041209

0.006269

0.002162

0.001427

0.053194

0.042815

0.040215

0.021514

0.166116

0.291353

0.033781

0.044196

0.035593

0.046671

0.006258

0.002661

0.001206

0.054408

0.042224

0.042798

0.02302

0.170071

0.30542

0.042221

0.043892

0.0366

0.048355

0.007008

0.003006

0.001271

0.053513

0.043824

0.043564

0.025826

0.174643

0.305919

0.049414

0.04446

0.038216

0.051709

0.007574

0.003071

0.001254

0.055885

0.044398

0.043299

0.026743

0.182788

0.3209

0.066161

0.042952

0.038384

0.050794

0.007609

0.002895

0.001272

0.059802

0.043298

0.044312

0.023559

0.192219

0.309381

0.08703

0.043044

0.037285

0.050552

0.007277

0.003466

0.001321

0.056947

0.046123

0.045152

0.026067

0.197604

0.308362

0.093183

0.043366

0.03656

0.049637

0.007117

0.003965

0.001214

0.057212

0.039632

0.041709

0.023609

0.187081

0.317137

0.105404

0.042569

0.039188

0.058052

0.007932

0.004182

0.001259

0.063181

0.045528

0.047456

0.02922

0.203236

0.327765

0.122085

0.043068

0.038189

0.061094

0.009322

0.004322

0.00123

0.064792

0.046952

0.049034

0.028941

0.206647

0.319477

0.135871

0.041943

0.03857

0.064456

0.010801

0.004818

0.001277

0.063546

0.047693

0.049482

0.029505

0.214448

0.333834

0.158954

0.0413

0.03741

0.063439

0.010996

0.004895

0.001227

0.065594

0.047096

0.050685

0.033938

0.217466

0.354957

0.178198

0.039519

0.035172

0.062229

0.011085

0.003908

0.0012

0.065629

0.049339

0.051349

0.034945

0.223

0.395697

0.20954

0.040302

0.036091

0.065028

0.00711

0.004117

0.0012

0.068267

0.0481

0.056116

0.038356

0.228443

0.414191

0.241646

0.039417

0.038012

0.065477

0.009949

0.004575

0.001149

0.067755

0.049926

0.059609

0.039132

0.236468

0.433054

0.273839

0.040831

0.037774

0.070532

0.010432

0.004603

0.001164

0.068936

0.051201

0.060489

0.039697

0.248428

0.460873

0.298334

0.0422

0.03938

0.069757

0.009499

0.004998

0.001917

0.077249

0.051605

0.064244

0.046718

0.258075

0.481175

0.33704

0.042705

0.038663

0.067076

0.009357

0.005532

0.002048

0.075434

0.04968

0.066407

0.046565

0.260879

0.506316

0.362527

0.044968

0.037742

0.079509

0.011262

0.005139

0.001928

0.07653

0.051667

0.066543

0.049526

0.267193

0.51485

0.3891

0.045694

0.037778

0.082775

0.012677

0.005424

0.001718

0.078907

0.053756

0.067515

0.052887

0.276468

0.529398

0.414645

0.043009

0.035309

0.073309

0.009851

0.006224

0.001523

0.081429

0.054215

0.070635

0.056947

0.281857

0.548582

0.441465

0.044838

0.036201

0.08681

0.014052

0.00605

0.001698

0.078327

0.05354

0.070342

0.063432

0.291926

0.584073

0.487705

0.044458

0.036261

0.089459

0.016304

0.005826

0.001804

0.090056

0.05351

0.073099

0.065783

0.294091

0.615497

0.520332

0.044654

0.035844

0.091437

0.017965

0.007502

0.001575

0.084062

0.053128

0.076275

0.066715

0.298355

0.633296

0.545652

0.044399

0.034025

0.094343

0.022247

0.005216

0.001508

0.084523

0.054814

0.079865

0.073261

0.306576

0.652092

0.581879

0.045355

0.034689

0.094857

0.021581

0.006344

0.001595

0.078074

0.055799

0.08287

0.076612

0.311126

0.679798

0.623811

0.043435

0.033957

0.102603

0.023468

0.008315

0.001682

0.084584

0.057634

0.086335

0.08034

0.320296

0.705224

0.631759

0.046736

0.033827

0.110338

0.024242

0.010264

0.001779

0.09188

0.058231

0.0873

0.082854

0.330803

0.728831

0.673547

0.046018

0.034784

0.108093

0.016685

0.011685

0.001817

0.114754

0.055082

0.095605

0.086011

0.33327

0.715895

0.705481

0.047058

0.034855

0.1118865636

0.022858

0.012976

0.001834

0.116398

0.056283

0.092208

0.088511

0.337686

0.749363

0.736157

0.047268

0.035931

0.1151777636

0.028024

0.00994438

0.001748

0.114255

0.055978

0.091726

0.087913

0.338597

0.719485

0.77151

0.047336

0.035225

0.1184689636

0.02201

0.0131301391

0.001611

0.118743

0.057425

0.097624

0.089571

0.343479

0.763612

0.822414

0.048384

0.034685

0.1217601636

0.030624

0.0139603843

0.001654

0.124875

0.05541

0.098567

0.091738

0.348662

0.771138

0.858759

0.047423

0.033538

0.1250513636

0.022374

0.0147853234

0.001578

0.125814

0.057578

0.102468

0.106666

0.352604

0.778646

0.869949

0.047452

0.035278

0.1283425636

0.024887

0.0156608478

0.001418

0.124555

0.057554

0.110598

0.113147

0.359736

0.796569

0.92548

0.046074

0.035083

0.1316337636

0.024094

0.0164853012

0.001385

0.1327634553

0.056268

0.112489

0.115735

0.360857

0.807587

0.981082

0.0473748889

0.035323

0.1349249636

0.025189

0.0173142878

0.001604

0.1361013829

0.056684

0.117891

0.114418

0.368814

0.86131

1.014145

0.0474332222

0.034785

0.1382161636

0.027843

0.0180869829

0.001469

0.1385595139

0.059621

0.124092

0.129561

0.375148

0.898626

1.039947

0.0474915556

0.0348174166

0.1415073636

0.0261447222

0.018939322

0.001231

0.1433020086

0.060516

0.128668

0.135616

0.379945

0.918134

1.06325

0.0475498889

0.0347874999

0.1447985636

0.0263091555

0.019983025

0.001692

0.1481914043

0.0596702407

0.1332936883

0.1410855315

0.39012

0.928583

1.0968526882

0.0476082222

0.0347575833

0.1480897636

0.0264735889

0.0210703281

0.0014703903

0.1532981435

0.0585273003

0.1347647637

0.1439946146

0.3828258943

0.960538

1.128880822

0.0476665556

0.0347276666

0.1513809636

0.0266380222

0.0222178138

0.0014667062

0.1582293065

0.0601194634

0.142599362

0.1537244579

0.3963113797

0.91372

1.1583856975

0.0477248889

0.0346977499

0.1546721636

0.0268024555

0.0234126423

0.0014634946

0.1637489878

0.0610545648

0.1490864709

0.1620684531

0.4056209417

0.917925

1.1883870797

0.0477832222

0.0346678333

0.1579633636

0.0269668889

0.0246657328

0.0014598191

0.16874206

0.0612941194

0.1539936722

0.1687313937

0.4103969014

0.936912

1.2203439738

0.0478415556

0.0346379166

0.1612545636

0.0271313222

0.0259842801

0.0014581802

0.1733982996

0.0615455607

0.1590023596

0.1755269281

0.4153052174

0.962003

1.251142897

0.0478998889

0.0346079999

0.1645457636

0.0272957555

0.02725959

0.0014573907

0.1778270651

0.0618658226

0.1642671717

0.1826279592

0.4207356388

0.9790318952

1.2808766177

data

DateMonterey (CA)Austin Chalk (LA & TX)Granite Wash (OK & TX)Woodford (OK)MarcellusHaynesvilleNiobrara-Codell (CO, WY)Wolfcamp (TX & NM Permian)Bonespring (TX & NM Permian)Spraberry (TX & NM Permian)Bakken (MT & ND)Eagle Ford (TX)Yeso-Glorieta (TX & NM Permian)Delaware (TX & NM Permian)

1-Jan-000.0624370.0690730.0065210.0003860.0000010.0029280.0151590.0364790.0093750.0768690.0216720.0000080.0319850.03082

1-Feb-000.0617540.0692340.0066530.0003590.0000010.0032820.0150180.0373580.0091660.0770170.0203280.0000030.0324570.031032

1-Mar-000.0611220.0667840.0061680.0003370.0000030.0029160.0151920.0377520.0090160.0752760.0198360.0000070.0330020.030571

1-Apr-000.0607840.0678380.0064810.0003520.0000010.002940.0152730.0403090.0099360.0754520.0201050.0000030.0331190.030549

1-May-000.061080.066220.0062490.0003470.0000010.002810.014850.0398260.0094590.0743320.0192560.0000050.0331450.03081

1-Jun-000.0597120.0654370.0060370.0003180.0000010.0028010.0144960.0393940.0091760.0736220.0189290.0000050.0333450.030983

1-Jul-000.0584590.0618980.006190.0003110.0000010.002650.0141080.0397120.0097820.0723910.0186770.0000060.0327220.029632

1-Aug-000.0584230.0622290.0061210.0002940.0000010.0026820.0143890.0413390.0092010.0728390.0183150.0000040.0324040.029621

1-Sep-000.0583850.0610210.0059120.0003380.0000010.0027130.0141990.0410.0089530.0738470.0185760.0000040.0329190.030918

1-Oct-000.0584770.0616830.0060150.0003280.0000010.0027660.0158170.0420140.0095940.0753960.0183450.0000040.0341780.030664

1-Nov-000.0579650.0590590.0060730.0003380.0000010.0028650.0155670.0389190.0094040.0759280.0184610.0000040.0339960.030134

1-Dec-000.0601540.0562790.0055290.0003030.0000010.0027770.0153250.0382030.0095430.0751390.0177340.0000050.0337280.030488

1-Jan-010.0614830.0573980.0058490.00028200.0028540.016480.0387490.0094010.0776930.0173910.0000040.0338920.030324

1-Feb-010.0631080.0575170.0059370.0000800.0030550.0156320.0383550.0093950.0763290.01710.0000040.0347610.030693

1-Mar-010.0625210.0560270.0061760.00034100.0030160.0164360.0389640.0092570.0764640.0174740.0000050.033410.030361

1-Apr-010.0621790.0561960.0064180.00033200.002890.0163710.0371590.0096920.0747020.0171110.0000020.034320.03012

1-May-010.0611790.0559850.0059960.0003590.0000020.0027940.0164630.0364260.0095360.0746830.0171060.0000070.0339920.030339

1-Jun-010.0595950.0543450.0059650.0003610.0000030.0025670.015830.0364680.0092290.0744840.0165710.0000050.0343810.030121

1-Jul-010.0617390.0548310.0059530.00034800.002830.0164910.0365570.0093680.0739330.0161280.0000050.0341670.029932

1-Aug-010.0623980.0547150.0060070.00036200.002770.0166110.0365750.0100260.0741890.0166970.0000050.0351320.030263

1-Sep-010.0631930.054190.00590.00037600.002810.0171690.0351870.0101180.074180.0167930.0000040.0346610.030992

1-Oct-010.0638130.0533810.0060890.00040200.0027570.018360.0339410.0097810.0748790.0164280.0000050.0354330.030958

1-Nov-010.0627240.0522030.0058970.00033100.0026490.0190540.0340230.0092470.0739190.0167490.0000050.034870.030078

1-Dec-010.0627430.051990.0056890.00036700.0025540.0191460.0339330.0090430.0750010.0167830.0000030.0347240.03012

1-Jan-020.066510.0512950.0056350.00037100.0026690.0190640.0342790.0089090.0750820.0163930.0000080.0345990.029975

1-Feb-020.0665790.0500770.0056060.00033800.0026210.0191750.0347440.0089850.074340.0164140.0000050.0345160.029377

1-Mar-020.0666370.0493620.0055030.00034600.0026020.0191930.0348150.0086410.0736410.0161950.0000050.0336630.029084

1-Apr-020.0672960.0476680.0057340.0003700.0024470.0195220.0362620.0089910.0724960.0162650.0000050.0337160.028464

1-May-020.0663210.045820.0059660.00039500.0022950.0196770.0378520.0086370.0719040.0164330.0000080.0339330.028251

1-Jun-020.0669470.0446850.0058260.00041100.0022860.0185830.0373370.0083260.0697090.0162170.0000040.0335830.02781

1-Jul-020.0651510.0440770.0055360.00042500.0021620.0180180.0356820.0081520.0689950.0161730.0000040.0333140.02851

1-Aug-020.0663140.0447710.0056020.00041400.0021230.0193220.0361720.007790.0684850.0160940.0000030.0329480.028609

1-Sep-020.0645990.0435570.0055360.0004300.002070.0200180.0371490.0081570.0690070.0165510.0000050.0328920.028754

1-Oct-020.0649370.0432780.0054960.00039400.0016410.0197190.0371650.0080510.0693460.0171620.0000050.0323940.028877

1-Nov-020.0646750.0454390.0059390.000420.0000010.0021060.0199970.0395690.0080360.0703080.0176970.0000030.0318920.029111

1-Dec-020.0625840.0441930.0054350.00043200.0021340.0207230.0392780.0075430.070530.0177440.0000020.0316280.029573

1-Jan-030.0629530.0439820.0059750.00040.0000020.0020290.0205150.0380450.0075250.0715110.0181740.0000040.0316380.029532

1-Feb-030.0632520.0433180.0058920.0000640.0000020.0020360.020830.0375470.0074080.0719450.0188630.0000030.0308690.029705

1-Mar-030.0616090.0434450.0060890.0008080.0000020.0020110.0211780.0366640.0080090.0718550.0184060.0000050.0304030.02965

1-Apr-030.0611240.0427950.0062650.0000680.0000020.0018730.0215290.0351350.0089860.0712790.0184930.0000010.0303270.029645

1-May-030.0616570.0425940.0061360.0004260.0000020.0016930.0216290.0355430.0086520.0697880.01838300.0302360.029262

1-Jun-030.0607870.0430140.0060110.0004550.0000020.001610.0218960.0353480.0085990.0693750.0183670.0000010.0306620.029195

1-Jul-030.0614930.0426350.0061110.0004360.0000020.0016150.0206430.0356570.0091170.0700720.0194970.0000060.0309910.029918

1-Aug-030.0610620.0413650.0064450.0003870.0000050.0014710.0208470.0358310.0086190.0698880.0196310.0000030.0312450.029497

1-Sep-030.0618210.041660.0068570.0004180.0000020.0015840.0230480.0351280.0087940.0712620.021070.0000010.0307180.029463

1-Oct-030.0627680.0411770.0069720.0004420.0000020.0015620.0228760.0353950.0092810.0718730.0218390.0000030.0304460.029872

1-Nov-030.0601810.0407050.006860.0004160.0000020.0015650.0229480.0353640.0102170.0732150.0235460.0000020.0306680.029566

1-Dec-030.0609020.0414720.0071730.000440.0000020.0016270.0243460.0345250.0092680.0739950.0238870.0000040.0307440.029638

1-Jan-040.0603760.0417830.0073740.00040.0000010.0016370.023640.0340030.0097820.0725920.024890.0000040.0303560.03026

1-Feb-040.0614680.0411370.0077950.0004860.000010.0016680.0251150.0337850.0095270.0721960.0247890.0000080.0302350.030324

1-Mar-040.0591710.0410890.0078880.0004310.0000020.0016580.0265280.0324610.0095060.0713690.0272710.0000050.0302230.030795

1-Apr-040.0602130.0394430.0080170.0004540.0000010.0016820.0269740.0320780.0097890.0717220.0271770.0000030.0302010.030762

1-May-040.0601660.0392540.0081540.0004430.0000010.0016810.0260460.0310790.0099740.0714230.0290040.0000020.0295040.030097

1-Jun-040.0602860.0399670.008120.0004120.0000020.0017690.0270160.0307660.0097360.0708970.0308750.0000040.0286920.029663

1-Jul-040.0599280.0396860.0083450.0004030.0000010.0017390.0248990.0310910.0096590.0714390.0311380.0000050.0283540.029641

1-Aug-040.0585040.0388620.0089270.0004170.0000010.001790.0260380.0317490.0096730.0708560.0319520.0000060.0287580.030532

1-Sep-040.0605920.0381430.0092510.0004340.0000010.0018230.0255280.030960.0094310.0731240.035260.0000030.0290510.030502

1-Oct-040.0616170.0400940.0089650.0004360.0000010.0018420.025290.0308380.0100880.0741880.0365570.0000030.0289280.0311

1-Nov-040.0624310.0413110.0086670.0004620.0000010.0017910.0260270.0317350.0099810.0749370.0387450.0000030.0287080.031326

1-Dec-040.0625340.041130.0092520.0004260.0000030.001760.0261070.0320440.0093380.0755670.0394780.0000070.0287140.031438

1-Jan-050.0610460.0410090.0089090.000440.0000140.0017720.0262630.031730.0091160.0777010.0409560.0000040.0286190.032113

1-Feb-050.0602290.0408770.0101840.00048800.0018130.0275690.0325010.0090970.079150.04720.0000050.0279490.031599

1-Mar-050.0609350.0408850.0104110.0004160.0000050.0016010.0279570.0319910.0090610.0803470.0487860.0000040.0280070.031965

1-Apr-050.0598990.0407250.0102570.0004820.0000040.0017230.0275530.0314520.0094110.0797980.0516630.0000060.0277750.031471

1-May-050.0573070.041230.0100680.00044800.0016620.0291680.0311970.0092750.0778880.052830.0000040.0282710.031201

1-Jun-050.0583140.0402370.0105270.0005090.0000060.0015270.0281210.0309920.0093140.0771840.0530610.0000040.0280590.030894

1-Jul-050.056810.0408150.0115390.0004690.0000050.0017190.0271240.0301560.0087630.0770720.0519020.0000030.0272820.030841

1-Aug-050.0568550.0411970.0122410.0004490.0000030.0017080.0293290.0308270.0088610.0761830.0553890.0000060.0271460.031143

1-Sep-050.0577190.036780.0121460.0003980.0000020.0014740.0287220.0305840.0089820.0760190.0576190.0000060.0263770.030931

1-Oct-050.057240.0401770.0125140.0005040.0000120.001670.0291190.0317610.0094870.0787690.0587390.0000050.0269910.032233

1-Nov-050.058570.0395510.0123170.0004720.0000090.0017910.0296580.0320160.0092810.0804240.0601980.0000040.0257340.031398

1-Dec-050.0576010.0389020.0127230.0004360.0000260.0017320.0279950.0309980.00940.0802180.0599380.0000040.0264070.031621

1-Jan-060.0565440.0408040.0137190.0004570.0000190.0016410.0304610.0319060.0094640.0795990.0599940.0000050.0269240.031341

1-Feb-060.0574240.0393010.0137720.0004420.0000220.0015830.0302480.0322420.0092850.0799580.0594430.0000030.026260.031535

1-Mar-060.0578230.0418560.0145860.0004360.0000180.0016160.0318450.0328980.0092820.0800380.0605330.0000030.0266030.03163

1-Apr-060.0575280.0413910.0146680.000360.0000140.0016110.0316170.0319750.00960.078430.0597520.0000040.0260270.031188

1-May-060.0563090.0400890.0149320.0003810.0000280.0018220.0332620.03180.0094580.0795360.0602990.0000040.0265690.030758

1-Jun-060.0561060.0389260.0149040.0003640.0000230.0018510.03190.0310910.0096380.079380.0620130.0000050.02620.030394

1-Jul-060.0541090.0407970.0155470.0003850.000090.0020130.0318490.0308690.0095230.0796020.0633510.0000040.0263050.030355

1-Aug-060.0527760.0407930.0165590.0004180.0000850.0019290.0322730.0292850.0096270.0810590.0638140.0000050.0257080.030762

1-Sep-060.0564110.0404740.0167320.0004680.0000850.0018280.031930.030770.0101370.0830550.0665870.0001240.0276930.031074

1-Oct-060.0565510.041980.0176060.0003790.0001140.0016470.0345110.0322910.0099530.0834910.0666160.0001230.0274850.031611

1-Nov-060.0572430.0426460.0179370.0004080.0000870.0019350.03390.0325650.0109020.0854850.0668120.0000460.0288590.032297

1-Dec-060.0571020.0415210.0177880.00040.0000870.0018380.0298080.0325610.0103790.0871820.0669780.0001190.0285390.031994

1-Jan-070.056440.0392850.0169030.0004540.0000640.0017770.0277520.0326130.0102870.0864290.0668820.0000930.0277310.032424

1-Feb-070.0383250.0411030.0169980.0005160.0000890.0017960.0301670.0331020.0114320.0889770.0670650.0001050.0282470.032576

1-Mar-070.0544340.0396360.0177060.0004850.0001370.0016950.0354570.0329910.0114920.0904960.068560.0000830.0269680.03243

1-Apr-070.0571390.0425320.0188960.0004470.0001540.0015820.037480.03330.0113060.0917660.0688140.0000850.0282530.03199

1-May-070.0573080.04170.0207420.0004810.0001370.0016440.0378630.03390.0115250.0895950.0736330.0000790.0275130.03226

1-Jun-070.0556130.0410910.0203080.0006140.000170.0015650.0358620.0336450.0110950.0891130.0728050.0000780.0268330.031881

1-Jul-070.0564120.0397880.019360.0005750.000180.001540.0364570.0340850.0120370.0927490.0748020.0000720.0271450.032056

1-Aug-070.0556520.0415670.0195550.0009140.0001890.001530.0381440.0332510.0128060.0925340.0753350.0000580.0279150.033087

1-Sep-070.0556680.0393820.0210240.0011230.0001910.0015180.0368660.033780.0122530.0942030.076560.0000050.0278670.033027

1-Oct-070.056310.0393240.0210480.0008190.0002030.001510.0386170.0334670.0123920.0964140.0810480.0000220.0288480.033726

1-Nov-070.0557530.0409060.020810.0010790.0001930.0015720.0391990.0344210.0123560.0987760.0799950.0000070.0290550.034274

1-Dec-070.056510.0399130.0205080.0008820.000220.0020090.0363150.0344830.0131040.1004320.084580.0000250.029080.035108

1-Jan-080.0545960.0411460.0210450.0013920.0002270.002060.036440.0345850.0126470.1007450.0855950.0000890.0284950.035629

1-Feb-080.0531730.0397640.0226820.0012890.0003050.0021310.0403150.0341010.0130980.1046530.0852580.000170.0293560.035402

1-Mar-080.0523560.0437580.0253660.0010810.0003050.0020750.0424040.0342510.0137250.1071960.090650.0001730.0302760.034992

1-Apr-080.0511160.0425250.0250560.0018490.0004170.0019470.0425630.0330040.0132540.1077070.0976440.0003540.0285460.034138

1-May-080.0500510.0416550.0266140.0021740.0002380.0017180.0424930.0331060.0125550.1094350.1055670.0004910.0282110.033833

1-Jun-080.0473640.0421140.0261530.0020750.0003630.0023950.0437360.0325530.0127230.1095210.1155070.0007890.0303050.034684

1-Jul-080.0480390.0426150.027150.0023790.0003380.0023340.0428830.0338650.0133440.11510.1206850.0003670.0309250.033578

1-Aug-080.0475210.0424270.0219940.0013720.0003890.0020730.0449770.0340220.0129520.1172690.1277670.0003090.0317810.033145

1-Sep-080.0459540.0383810.0288570.003410.0003290.0019370.0501010.033710.0129010.1115690.1397720.0007340.0312030.032169

1-Oct-080.0469270.0433790.0290610.0038110.0004750.001940.0471880.0366120.0141650.122340.1558730.0011410.0332130.034556

1-Nov-080.0497310.0430630.0279050.0038350.0004190.0019610.0489580.0376010.0145420.128480.1676230.0010160.0338320.034984

1-Dec-080.0498350.0421280.0273310.003130.0004280.0021550.046750.0386430.0148840.1292450.1574040.000840.0345880.035062

1-Jan-090.0491770.0409490.0299530.0036360.0004760.002210.0476210.0405140.0158410.1284140.1447420.0008120.0341970.034688

1-Feb-090.0486340.040.0308760.0036230.0005510.0020290.0491150.0392710.0149170.1288770.150510.001120.0360840.035478

1-Mar-090.0474860.037970.030140.0035240.0006210.0019730.0499640.0376050.0159660.1296380.1548270.0012830.036010.034571

1-Apr-090.04710.0379730.0311280.0043550.0006890.0019930.0454250.0364520.0152420.1270190.1569110.001630.0347350.033784

1-May-090.0460360.0370020.0319030.00420.0008030.0017290.0463630.0359690.015320.1241720.1650930.0017140.0352450.033022

1-Jun-090.0460130.0350730.0304670.0038910.0008730.0016380.0470.034070.0145820.1228730.1732150.0013560.034730.033092

1-Jul-090.0442390.034270.0295210.00370.0016660.001570.0454280.0333920.0147660.1216380.18580.0019010.0340130.031426

1-Aug-090.0452380.0334110.0293630.003490.0018710.0015950.0470590.0335750.0153130.1225890.1887580.0021110.0345830.032411

1-Sep-090.0454980.0342820.029980.0034890.0019160.0015520.0472390.0345640.014440.1244730.1951710.0029770.0356310.032557

1-Oct-090.044880.0337770.0305510.0028420.0018080.0015570.045580.0335260.014550.1277950.1977530.0048340.035550.033462

1-Nov-090.0458560.0342410.0305410.0030040.001810.0015930.048310.0353160.0161160.1319520.2016590.0065310.0366890.034236

1-Dec-090.042820.0352740.0309850.0027460.0017010.0018360.0456710.0353510.0162930.1334750.1998250.0070580.03710.033227

1-Jan-100.0437820.0353820.0308340.0032590.0018270.001590.0493410.0344270.017670.1366610.2012650.0077230.0383440.033945

1-Feb-100.0424510.0347550.0342760.0035830.0019660.0016940.0508920.0359340.0187520.1410620.220110.0074890.0399020.034747

1-Mar-100.0440640.0347220.0364960.0035820.0021820.0016560.0511090.0362520.0191250.1427750.2358730.0121980.0411230.034438

1-Apr-100.0428880.0340560.0375520.0039320.0022030.0015750.0505570.0362120.0191320.1460780.2433070.0153260.0391770.035068

1-May-100.043230.0352670.0393060.0041930.0027980.0014020.0511750.0376140.0202920.1521230.2586380.0192290.0421860.034204

1-Jun-100.0417210.03530.0387450.0061280.0029790.0012840.0494440.0388880.0191020.154140.2747960.0250760.0419940.033752

1-Jul-100.0425790.0355260.0388380.0059740.0022710.0012590.0451710.0403140.0199140.1606780.2832810.0296730.042710.035286

1-Aug-100.0436290.0353420.0412090.0062690.0021620.0014270.0531940.0402150.0215140.1661160.2913530.0337810.0428150.035531

1-Sep-100.0441960.0355930.0466710.0062580.0026610.0012060.0544080.0427980.023020.1700710.305420.0422210.0422240.034544

1-Oct-100.0438920.03660.0483550.0070080.0030060.0012710.0535130.0435640.0258260.1746430.3059190.0494140.0438240.036481

1-Nov-100.044460.0382160.0517090.0075740.0030710.0012540.0558850.0432990.0267430.1827880.32090.0661610.0443980.036722

1-Dec-100.0429520.0383840.0507940.0076090.0028950.0012720.0598020.0443120.0235590.1922190.3093810.087030.0432980.036927

1-Jan-110.0430440.0372850.0505520.0072770.0034660.0013210.0569470.0451520.0260670.1976040.3083620.0931830.0461230.036816

1-Feb-110.0433660.036560.0496370.0071170.0039650.0012140.0572120.0417090.0236090.1870810.3171370.1054040.0396320.034725

1-Mar-110.0425690.0391880.0580520.0079320.0041820.0012590.0631810.0474560.029220.2032360.3277650.1220850.0455280.036343

1-Apr-110.0430680.0381890.0610940.0093220.0043220.001230.0647920.0490340.0289410.2066470.3194770.1358710.0469520.03681

1-May-110.0419430.038570.0644560.0108010.0048180.0012770.0635460.0494820.0295050.2144480.3338340.1589540.0476930.037971

1-Jun-110.04130.037410.0634390.0109960.0048950.0012270.0655940.0506850.0339380.2174660.3549570.1781980.0470960.037364

1-Jul-110.0395190.0351720.0622290.0110850.0039080.00120.0656290.0513490.0349450.2230.3956970.209540.0493390.038387

1-Aug-110.0403020.0360910.0650280.007110.0041170.00120.0682670.0561160.0383560.2284430.4141910.2416460.04810.03801

1-Sep-110.0394170.0380120.0654770.0099490.0045750.0011490.0677550.0596090.0391320.2364680.4330540.2738390.0499260.038476

1-Oct-110.0408310.0377740.0705320.0104320.0046030.0011640.0689360.0604890.0396970.2484280.4608730.2983340.0512010.038301

1-Nov-110.04220.039380.0697570.0094990.0049980.0019170.0772490.0642440.0467180.2580750.4811750.337040.0516050.039303

1-Dec-110.0427050.0386630.0670760.0093570.0055320.0020480.0754340.0664070.0465650.2608790.5063160.3625270.049680.039453

1-Jan-120.0449680.0377420.0795090.0112620.0051390.0019280.076530.0665430.0495260.2671930.514850.38910.0516670.040263

1-Feb-120.0456940.0377780.0827750.0126770.0054240.0017180.0789070.0675150.0528870.2764680.5293980.4146450.0537560.041511

1-Mar-120.0430090.0353090.0733090.0098510.0062240.0015230.0814290.0706350.0569470.2818570.5485820.4414650.0542150.041549

1-Apr-120.0448380.0362010.086810.0140520.006050.0016980.0783270.0703420.0634320.2919260.5840730.4877050.053540.043723

1-May-120.0444580.0362610.0894590.0163040.0058260.0018040.0900560.0730990.0657830.2940910.6154970.5203320.053510.043458

1-Jun-120.0446540.0358440.0914370.0179650.0075020.0015750.0840620.0762750.0667150.2983550.6332960.5456520.0531280.043434

1-Jul-120.0443990.0340250.0943430.0222470.0052160.0015080.0845230.0798650.0732610.3065760.6520920.5818790.0548140.045632

1-Aug-120.0453550.0346890.0948570.0215810.0063440.0015950.0780740.082870.0766120.3111260.6797980.6238110.0557990.045824

1-Sep-120.0434350.0339570.1026030.0234680.0083150.0016820.0845840.0863350.080340.3202960.7052240.6317590.0576340.047307

1-Oct-120.0467360.0338270.1103380.0242420.0102640.0017790.091880.08730.0828540.3308030.7288310.6735470.0582310.050205

Nov-120.0460180.0347840.1080930.0166850.0116850.0018170.1147540.0956050.0860110.333270.7158950.7054810.0550820.050873

Dec-120.0470580.0348550.11188656360.0228580.0129760.0018340.1163980.0922080.0885110.3376860.7493630.7361570.0562830.052299

Jan-130.0472680.0359310.11517776360.0280240.009944380.0017480.1142550.0917260.0879130.3385970.7194850.771510.0559780.053519

Feb-130.0473360.0352250.11846896360.022010.01313013910.0016110.1187430.0976240.0895710.3434790.7636120.8224140.0574250.053157

Mar-130.0483840.0346850.12176016360.0306240.01396038430.0016540.1248750.0985670.0917380.3486620.7711380.8587590.055410.052199

Apr-130.0474230.0335380.12505136360.0223740.01478532340.0015780.1258140.1024680.1066660.3526040.7786460.8699490.0575780.052476

May-130.0474520.0352780.12834256360.0248870.01566084780.0014180.1245550.1105980.1131470.3597360.7965690.925480.0575540.0555312064

Jun-130.0460740.0350830.13163376360.0240940.01648530120.0013850.13276345530.1124890.1157350.3608570.8075870.9810820.0562680.0556545561

Jul-130.04737488890.0353230.13492496360.0251890.01731428780.0016040.13610138290.1178910.1144180.3688140.861311.0141450.0566840.0569292335

Aug-130.04743322220.0347850.13821616360.0278430.01808698290.0014690.13855951390.1240920.1295610.3751480.8986261.0399470.0596210.0584829261

Sep-130.04749155560.03481741660.14150736360.02614472220.0189393220.0012310.14330200860.1286680.1356160.3799450.9181341.063250.0605160.0597277207

Oct-130.04754988890.03478749990.14479856360.02630915550.0199830250.0016920.14819140430.13329368830.14108553150.390120.9285831.09685268820.05967024070.0605522936

Nov-130.04760822220.03475758330.14808976360.02647358890.02107032810.00147039030.15329814350.13476476370.14399461460.38282589430.9605381.1288808220.05852730030.0600287634

Dec-130.04766655560.03472766660.15138096360.02663802220.02221781380.00146670620.15822930650.1425993620.15372445790.39631137970.913721.15838569750.06011946340.0623208889

Jan-140.04772488890.03469774990.15467216360.02680245550.02341264230.00146349460.16374898780.14908647090.16206845310.40562094170.9179251.18838707970.06105456480.0639652586

Feb-140.04778322220.03466783330.15796336360.02696688890.02466573280.00145981910.168742060.15399367220.16873139370.41039690140.9369121.22034397380.06129411940.0648996621

Mar-140.04784155560.03463791660.16125456360.02713132220.02598428010.00145818020.17339829960.15900235960.17552692810.41530521740.9620031.2511428970.06154556070.0658579764

Apr-140.04789988890.03460799990.16454576360.02729575550.027259590.00145739070.17782706510.16426717170.18262795920.42073563880.97903189521.28087661770.06186582260.0669023185

play names

DateMonterey (CA)Austin Chalk (LA & TX)Granite Wash (OK & TX)Woodford (OK)MarcellusHaynesvilleNiobrara-Codell (CO, WY)Wolfcamp (TX & NM Permian)Bonespring (TX & NM Permian)Spraberry (TX & NM Permian)Bakken (MT & ND)Eagle Ford (TX)Yeso-Glorieta (TX & NM Permian)

Chart1

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380783807838078380783807838078380783807838078

381083810838108381083810838108381083810838108

381393813938139381393813938139381393813938139

381693816938169381693816938169381693816938169

382003820038200382003820038200382003820038200

382313823138231382313823138231382313823138231

382613826138261382613826138261382613826138261

382923829238292382923829238292382923829238292

383223832238322383223832238322383223832238322

383533835338353383533835338353383533835338353

383843838438384383843838438384383843838438384

384123841238412384123841238412384123841238412

384433844338443384433844338443384433844338443

384733847338473384733847338473384733847338473

385043850438504385043850438504385043850438504

385343853438534385343853438534385343853438534

385653856538565385653856538565385653856538565

385963859638596385963859638596385963859638596

386263862638626386263862638626386263862638626

386573865738657386573865738657386573865738657

386873868738687386873868738687386873868738687

387183871838718387183871838718387183871838718

387493874938749387493874938749387493874938749

387773877738777387773877738777387773877738777

388083880838808388083880838808388083880838808

388383883838838388383883838838388383883838838

388693886938869388693886938869388693886938869

388993889938899388993889938899388993889938899

389303893038930389303893038930389303893038930

389613896138961389613896138961389613896138961

389913899138991389913899138991389913899138991

390223902239022390223902239022390223902239022

390523905239052390523905239052390523905239052

390833908339083390833908339083390833908339083

391143911439114391143911439114391143911439114

391423914239142391423914239142391423914239142

391733917339173391733917339173391733917339173

392033920339203392033920339203392033920339203

392343923439234392343923439234392343923439234

392643926439264392643926439264392643926439264

392953929539295392953929539295392953929539295

393263932639326393263932639326393263932639326

393563935639356393563935639356393563935639356

393873938739387393873938739387393873938739387

394173941739417394173941739417394173941739417

394483944839448394483944839448394483944839448

394793947939479394793947939479394793947939479

395083950839508395083950839508395083950839508

395393953939539395393953939539395393953939539

395693956939569395693956939569395693956939569

396003960039600396003960039600396003960039600

396303963039630396303963039630396303963039630

396613966139661396613966139661396613966139661

396923969239692396923969239692396923969239692

397223972239722397223972239722397223972239722

397533975339753397533975339753397533975339753

397833978339783397833978339783397833978339783

398143981439814398143981439814398143981439814

398453984539845398453984539845398453984539845

398733987339873398733987339873398733987339873

399043990439904399043990439904399043990439904

399343993439934399343993439934399343993439934

399653996539965399653996539965399653996539965

399953999539995399953999539995399953999539995

400264002640026400264002640026400264002640026

400574005740057400574005740057400574005740057

400874008740087400874008740087400874008740087

401184011840118401184011840118401184011840118

401484014840148401484014840148401484014840148

401794017940179401794017940179401794017940179

402104021040210402104021040210402104021040210

402384023840238402384023840238402384023840238

402694026940269402694026940269402694026940269

402994029940299402994029940299402994029940299

403304033040330403304033040330403304033040330

403604036040360403604036040360403604036040360

403914039140391403914039140391403914039140391

404224042240422404224042240422404224042240422

404524045240452404524045240452404524045240452

404834048340483404834048340483404834048340483

405134051340513405134051340513405134051340513

405444054440544405444054440544405444054440544

405754057540575405754057540575405754057540575

406034060340603406034060340603406034060340603

406344063440634406344063440634406344063440634

406644066440664406644066440664406644066440664

406954069540695406954069540695406954069540695

407254072540725407254072540725407254072540725

407564075640756407564075640756407564075640756

407874078740787407874078740787407874078740787

408174081740817408174081740817408174081740817

408484084840848408484084840848408484084840848

408784087840878408784087840878408784087840878

409094090940909409094090940909409094090940909

409404094040940409404094040940409404094040940

409694096940969409694096940969409694096940969

410004100041000410004100041000410004100041000

410304103041030410304103041030410304103041030

410614106141061410614106141061410614106141061

410914109141091410914109141091410914109141091

411224112241122411224112241122411224112241122

411534115341153411534115341153411534115341153

411834118341183411834118341183411834118341183

412144121441214412144121441214412144121441214

412444124441244412444124441244412444124441244

412754127541275412754127541275412754127541275

413064130641306413064130641306413064130641306

413344133441334413344133441334413344133441334

413654136541365413654136541365413654136541365

413954139541395413954139541395413954139541395

414264142641426414264142641426414264142641426

414564145641456414564145641456414564145641456

414874148741487414874148741487414874148741487

415184151841518415184151841518415184151841518

415484154841548415484154841548415484154841548

415794157941579415794157941579415794157941579

416094160941609416094160941609416094160941609

416404164041640416404164041640416404164041640

416714167141671416714167141671416714167141671

416994169941699416994169941699416994169941699

417304173041730417304173041730417304173041730

U.S. dry shale gas productionbillion cubic feet per day

Rest of US 'shale'

Antrim (MI, IN, & OH)

Bakken (ND)

Woodford (OK)

Barnett (TX)

Fayetteville (AR)

Eagle Ford (TX)

Haynesville (LA & TX)

Marcellus (PA & WV)

1.355

0.482

0.014

0.009

0.163

0

0

0.131

0.001

1.357

0.484

0.013

0.009

0.175

0

0

0.133

0.001

1.378

0.491

0.013

0.009

0.188

0

0

0.133

0.001

1.4

0.486

0.013

0.009

0.195

0

0

0.135

0.001

1.394

0.484

0.013

0.009

0.2

0

0

0.136

0.001

1.361

0.482

0.013

0.008

0.215

0

0

0.127

0.001

1.347

0.481

0.013

0.008

0.224

0

0

0.132

0.001

1.366

0.451

0.012

0.008

0.239

0

0

0.133

0.001

1.384

0.488

0.013

0.009

0.269

0

0

0.132

0.001

1.381

0.487

0.013

0.008

0.289

0

0

0.134

0.001

1.358

0.484

0.012

0.008

0.283

0

0

0.133

0.001

1.352

0.484

0.012

0.008

0.303

0

0

0.142

0.001

1.351

0.47

0.012

0.008

0.248

0

0

0.116

0.001

1.355

0.467

0.012

0.008

0.254

0

0

0.116

0.001

1.368

0.464

0.012

0.008

0.254

0

0

0.118

0.001

1.345

0.462

0.012

0.008

0.281

0

0

0.119

0.001

1.358

0.47

0.012

0.007

0.295

0

0

0.123

0.001

1.358

0.465

0.012

0.005

0.303

0

0

0.121

0.001

1.355

0.463

0.012

0.008

0.301

0

0

0.123

0.001

1.374

0.458

0.012

0.008

0.34

0

0

0.123

0.001

1.372

0.456

0.012

0.009

0.354

0

0

0.118

0.001

1.362

0.46

0.012

0.008

0.365

0

0

0.118

0.001

1.36

0.455

0.012

0.008

0.388

0

0

0.119

0.001

1.358

0.448

0.012

0.008

0.413

0

0

0.115

0.001

1.367

0.45

0.012

0.009

0.427

0

0

0.115

0

1.364

0.446

0.011

0.008

0.445

0

0

0.118

0

1.367

0.443

0.011

0.008

0.463

0

0

0.116

0

1.369

0.441

0.012

0.007

0.47

0

0

0.118

0

1.386

0.439

0.012

0.008

0.501

0

0

0.12

0

1.371

0.432

0.012

0.008

0.513

0

0

0.122

0

1.341

0.44

0.012

0.008

0.523

0

0

0.123

0

1.366

0.442

0.012

0.009

0.533

0

0

0.118

0

1.361

0.435

0.011

0.009

0.539

0

0.001

0.119

0

1.342

0.422

0.012

0.008

0.565

0

0

0.101

0.001

1.341

0.435

0.012

0.008

0.572

0

0

0.116

0.001

1.317

0.428

0.012

0.008

0.58

0

0

0.114

0.001

1.339

0.418

0.013

0.008

0.604

0

0

0.11

0.001

1.343

0.403

0.013

0.008

0.618

0

0

0.111

0.001

1.344

0.402

0.012

0.009

0.644

0

0

0.109

0.001

1.34

0.408

0.013

0.009

0.652

0

0

0.104

0.001

1.361

0.403

0.012

0.009

0.67

0

0

0.104

0.001

1.373

0.405

0.013

0.009

0.697

0

0

0.1

0.001

1.371

0.416

0.014

0.011

0.729

0

0

0.099

0.001

1.37

0.408

0.013

0.009

0.736

0

0

0.095

0.001

1.381

0.385

0.014

0.009

0.766

0

0

0.097

0.001

1.373

0.4

0.014

0.009

0.782

0

0

0.095

0.001

1.382

0.408

0.015

0.01

0.802

0

0

0.093

0.001

1.369

0.41

0.015

0.009

0.815

0

0

0.093

0.001

1.359

0.397

0.016

0.01

0.798

0

0

0.089

0.001

1.369

0.4

0.015

0.01

0.808

0

0

0.088

0.001

1.377

0.396

0.016

0.011

0.807

0

0

0.088

0.001

1.394

0.397

0.017

0.013

0.84

0

0

0.087

0.001

1.381

0.394

0.017

0.013

0.846

0

0

0.088

0.001

1.383

0.391

0.017

0.015

0.847

0

0

0.085

0.001

1.379

0.394

0.017

0.016

0.855

0

0

0.091

0.001

1.354

0.396

0.016

0.018

0.873

0

0

0.091

0.001

1.368

0.394

0.018

0.017

0.896

0

0

0.095

0.001

1.382

0.393

0.018

0.017

0.918

0.001

0

0.094

0.001

1.387

0.389

0.022

0.015

0.937

0.001

0

0.093

0.001

1.386

0.366

0.024

0.014

0.943

0.001

0

0.087

0.001

1.365

0.372

0.025

0.016

0.945

0.001

0

0.089

0.001

1.412

0.38

0.027

0.018

0.992

0.001

0

0.088

0.001