The proliferation of
activity into new shale plays has increased shale gas production in the United
States from 0.39 trillion cubic feet (Tcf) in 2000 to 4.87 Tcf in 2010, or 23
percent of U.S. dry gas production. Shale gas reserves increased to about 60.6
Tcf by year-end 2009, when they comprised about 21 percent of overall U.S.
natural gas reserves. The Energy Information Administration (EIA) projects that,
by 2035, shale gas production will account for 46 percent of U.S. natural gas
production.
According to Valerie Wood,
President of Energy Solutions, Inc., “The use of horizontal drilling in
conjunction with hydraulic fracturing has greatly expanded the ability of
producers to profitably produce natural gas from low permeability geologic
formations, particularly shale formations. The development of shale gas plays
has become a ‘game changer’ for the U.S. natural gas market.”
While
shale production has dramatically changed the natural gas outlook in the U.S.,
it has also been doing the same throughout many parts of the world. Although
the shale gas resource estimates will likely change over time as additional
information becomes available, a recently released report by the EIA,
World Shale Gas Resources: An Initial
Assessment of 14 Regions Outside the United States, shows that the
international shale gas resource base is vast.
Additional information about the potential of
international shale play resources is discussed in the most recently Monthly
Edition of
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receive insightful information into shale gas resources, as well as other bearish,
bullish, and neutral factors that affect pricing within the Natural Gas
Industry. Learn more by visiting
www.energysolutionsinc.com.
# # #
About Energy Solutions, Inc.
Formed in 1996, Energy Solutions,
Inc. is independently owned. With more than 50 years of experience in the
natural gas industry, our team focuses on natural gas prices and in helping
businesses improve their internal processes for the purchase of natural gas.
