Sat, Apr 19, 2014, 1:29 PM EDT - U.S. Markets closed

Recent

% | $
Quotes you view appear here for quick access.

Linn Energy, LLC (LINE) Message Board

  • sandonthebeach47 sandonthebeach47 Jan 18, 2013 5:01 PM Flag

    Marcellus plus Utica still no where near 10 trillion

    That is alot of $$....so lets check on why it is probably incorrect.

    First,

    it is about 2/3 of the entire USA GDP......so, lets look at how much reserves are estimated to be there and how much is estimated to be recoverable, even over the entire time of full development.

    This is what the USGS has:

    The Utica Shale contains about 38 trillion cubic feet of undiscovered, technically recoverable natural gas (at the mean estimate) according to the first assessment of this continuous (unconventional) natural gas accumulation by the U. S. Geological Survey. The Utica Shale has a mean of 940 million barrels of unconventional oil resources and a mean of 208 million barrels of unconventional natural gas liquids.

    The Utica Shale lies beneath the Marcellus Shale, and both are part of the Appalachian Basin, which is the longest-producing petroleum province in the United States.

    Marcellus is at 84 TCF of natural gas, is the largest unconventional gas basin USGS has assessed.

    Now, you can just add up the TOTAL recoverable reserves and multiply by a unit value for oil &/or gas.......and estimate the aprox total value....and what do you get?

    Then multiply by 2.91 for total economic activity (U of Tx. at Austin info), and it still does not come close.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • For anyone who wants to check on their own.

      The USGS is easy enough to check, just search Marcellus & Utica at their website, but the relevant recoverable reserve estimates are in the post above.

      The Univ of Texas info that is relevant relates to Texas...and I used their numberof 2.91 times the value of production from thisspecific text:

      "According to the Texas Comptroller’s input-output model of Texas’ economy, the total economic value of oil and gas is 2.91 times the value of production. Additionally, 19.1 jobs are created per million dollars of oil and gas production."

      That comes from a publication posted on the internet from:

      The Bureau of Economic Geology, established in 1909, is a research entity of The University of Texas at Austin that also functionsas the State Geological Survey.

      It may be a little different in NY, OH, WVa, & Pa but Texas can be used as a good guide since they have a history of oil & gas records that goes back to 1909.

      So,
      when you check to see how it all adds up (or does not add up)

      .....you now have the references as well, if you need them.

      • 1 Reply to sandonthebeach47
      • HI Sand,

        the total economic value of oil and gas is 2.91 times the value of production. Additionally, 19.1 jobs are created per million dollars of oil and gas production."

        Interesting two or one busy clown would vote against this on an American Energy board.

        It is actually probably over conservative. Dramatically under priced natural gas and ngls are converted to world prices in value added manufacturing. America needs a great deal more capacity.

        Texas did not go from a general Obama economy deficit to an exploding surplus because the real world economic multiplication was 3 to 1.

        Thank you.

    • Then multiply by 2.91 for total economic activity (U of Tx. at Austin info), and it still does not come close.

      But does X = Z with a foundation of the muliple adjacent activity. Does a increasing better economy, as well get factored into this mathmatical assumption????????? To solve the whole mathmatical sum.

 
LINE
29.02+0.49(+1.72%)Apr 17 4:00 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.
Weibo Corporation
NasdaqGSThu, Apr 17, 2014 4:00 PM EDT