Wednesday, January 16, 2013

Shale Gas Analysis

These are notes from Shale Gas EIA Study

  • Review of Shale Gas and Shale Oil
  • Background
    • hydraulic fracturing and horizontal drilling have greatly expanded the profitability of natural gas
    • started to grow in 1950s
    • mid 1970s partnership of DOE (Department of Energy) and GRI (Gas Research Institute)
      • grew technologies
    • large scale production in shale occurred with Mitchell Energy and Development Corporation
    • EIA and NEMS(National Energy Modeling System) presented Shale in mid 1990s, only a game changer for the past 5 years
  • Scope and Results
    • shale resources 
    • total 750 trillion cubic feet technically recoverable
    • 86 percent located in northeast and southwest and gulf coast
    • 23.9 billion barrels onshore in lower 48 states
    • Major areas onshore current development
      • Monterey, Santa Maria, San Joaquin Basin, Bakken and Eagle Ford
  • Methodology
    • INTEK shale report made from public company data and commercial databases
    • Issues and Concerns
      • gas and oil wells for shale are new and untested for long term production
      • production located to sweet spots of highest production
      • shale plays are very large only portions have been tested
    • Can have more production with technical advances and untested methods
    • Resource estimation still evolving

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