All things pertaining to the Marcellus & Utica Shale

U.S. Cuts Estimate for Marcellus Shale Gas Reserves by 66% !

In Part:

The U.S. Energy Department cut its estimate for natural gas reserves in the Marcellus shale formation by 66 percent, citing improved data on drilling and production.

The U.S. Geological Survey said in August that it would reduce its estimate of undiscovered Marcellus Shale natural gas by as much as 80 percent after an updated assessment by government geologists.

Sorry I do not believe this at all! A scheme to try and pull investors out of the gas? With the bull crap of carbon credits and the like it makes one question what (supposedly government) our government is doing.

http://www.businessweek.com/news/2012-01-23/u-s-cuts-estimate-for-m...

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Permalink Reply by john p halloran on March 13, 2012 at 9:52pm

Yes,there are numerus refineries in the midwest!!

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Permalink Reply by Sam Douglass on March 15, 2012 at 9:43pm

Follow the money. A lot more drillers this year in the area than last year. Drilling in other areas down.
Drilling in the tri state area up. $9,000,000 plant going into Ohio, compliments of Chesapeake. New cracker plant going into Beaver County. New plants need something to eat when they are done. India working on new facilities to dramatically increase its capacity to import LNG - ready 2-3 years from now. Companies leasing everything they can get.

Gov figures are very conservative. It doesn't list the maybe, might be, will be stuff - only what it can taste, touch and smell - and you hear them talk a little about the marcellus. They haven't found out about the Utica, the Onandaga and who knows what else. And with the price of oil up they are now back drilling for OIL where it was too expensive before - and in shallow strata. All in Appalachia.

Try to read what companies are telling their investors and watch where they are putting unbelievable amounts of money.

Its the governments job to be careful not to overstate. For that I am greatful - except when it becomes misleading.

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Permalink Reply by Jim Litwinowicz on April 3, 2012 at 9:10am

You left off a couple of zeros there. That CHK fractionization plant is worth 900,000,000 bucs

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Permalink Reply by Thomas J Shepstone on April 1, 2012 at 7:46am

You are correct, Billy! Read Scott Cline's piece at:

http://eidmarcellus.org/marcellus-shale/natural-gas-critic-refuses-...

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Permalink Reply by Graham on April 2, 2012 at 7:40pm

Funny how everyone is now a drilling engineer.

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Permalink Reply by Billy Park Whyde on April 2, 2012 at 8:44pm

I never said I was drilling engineer. But when one looks at the vast amount of money the private sector (not government) is shelling out in this play I believe it speaks for its self.