Reflecting both new information about natural gas reservoirs and advances in technology, a committee convened to study natural gas resources said Tuesday that the United States has 2.4 quadrillion cubic feet of natural gas that can be recovered by current drilling techniques.
That’s 26 percent higher than the previous assessment at the end of 2010.
The Potential Gas Committee, made up of representatives from energy companies working in various natural gas basins, has produced an assessment of the potential supply of natural gas every two years since 1964.
The Atlantic region, which includes the gas-rich Marcellus Shale, has the most potential resources, with an estimated 741,320 billion cubic feet. The Gulf Coast region, which includes a portion of Texas, all of Louisiana and much of the Gulf, was the second highest, with an estimated 521,030 billion cubic feet of natural gas.
The committee’s figures don’t include the Department of Energy’s estimate of proved dry-gas reserves — 304.6 trillion cubic feet.
Added together, that gives the United States a total available future supply of 2.7 quadrillion cubic feet of natural gas, according to the committee.
Curtis said current use of natural gas in the United States is about 25 trillion cubic feet a year, although he declined to speculate on how long the latest estimated resources would last.
“The committee does not assume a time-frame of development,” he said. “This is a geological look.”
Nor did it consider the price of natural gas, although that clearly is a factor for natural gas producers.
.....oh my, is the sky falling again and maybe no oil in that basin also....not just Bakken....oh my, what is really there, so who really knows?
"Chesapeake Energy is offering for sale more than 94,000 net acres of Utica/Point Pleasant shale acreage in Portage and Stark counties, Ohio, according to real-estate filings.
Two operated and one non-operated wells are included in the acreage, which is located in the 40 to 50 gravity oil window, according to a report from Meagher Energy Advisors I. The Point Pleasant play is approximately 125 feet to 150 feet thick with 3 to 6 percent porosity.
Fifty-three percent of the leasehold is held by production for a total of 49,977 net acres. Depths include 300 feet below the top of the Queenston formation to the top of the Black River formation."
I wonder who (and why) will be trying to sell (Utica/Point Pleasant shale) over there next?