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

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

"About 141 trillion cubic feet of gas can be recovered from the Marcellus shale using current technology, down from the previous estimate of 410 trillion, the department said today in its Annual Energy Outlook. About 482 trillion cubic feet can be produced from shale basins across the U.S., down 42 percent from 827 trillion in last year’s outlook.

 “Drilling in the Marcellus accelerated rapidly in 2010 and 2011, so that there is far more information available today than a year ago,” the department said. The estimates represent unproved technically recoverable gas. The daily rate of Marcellus production doubled during 2011.

The estimated Marcellus reserves would meet U.S. gas demand for about six years, using 2010 consumption data, according to the Energy Department, down from 17 years in the previous outlook. ..."

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

.

Views: 483

Replies to This Discussion

Permalink Reply by Doug Pierson on January 23, 2012 at 11:36am

http://data.cnbc.com/quotes/NGCV1

 

Hmmmm.  Imagine being so far off in their estimates, especially with so much experience with drilling in the Barnett Shale.  I don't know...Since these are Energy Department numbers, I still smell something political.

Permalink Reply by Ann Ticopa on January 23, 2012 at 1:11pm

The revision wasn't news in the sense of being unexpected.  Five months ago the USGS released an assessment that found the EIA numbers were way high.   The new Energy Department estimate is still higher than the USGS's.  So a case could be made either way  (too high or to low) for it being a political decision.  But as one analyst wrote, either way it's a lot of gas. 

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service