The ongoing shale gas revolution [600 % higher
recoverable gas reserves globally than were on the books just 5 years ago!]
The total worldwide technically
recoverable gas resources are roughly 16,000 trillion cubic feet, largely excluding shale gas.
It is critical to note that the 1995 assessment only dealt with estimating the in - place volume of gas with hydrates, whereas this more recent assessment dealt only with technically
recoverable gas.»
DOE was to do a speedy analysis that could ease public concern and start the industry down a more sustainable path as it tries to develop the 800 trillion cubic feet of technically
recoverable gas in the shale.
Questions emerged last summer after the U.S. Geological Survey cut by nearly 80 percent estimates of
recoverable gas in the Marcellus Shale, a sprawling gas formation in the Northeast.
This past April, the United States Energy Information Agency released an estimate that fracking has effectively increased the volume of
recoverable gas in the world six times over, to the point where it could satisfy current demand for 250 years — and that isn't counting a number of countries including Russia where the necessary geological data were unavailable.
The company has estimated a gas reserve of 35 million cubic feet of
recoverable gas if the well proves commercial.
Not exact matches
Adam Sieminski, head of the department's Energy Information Administration, said: «Today's report indicates a significant potential for international shale oil and shale
gas, though the extent to which technically
recoverable shale resources will prove to be economically
recoverable is not yet clear.»
Reports suggest that this area could hold «
recoverable reserves» of upwards of 48 billion barrels of oil and 141 trillion cubic feet of
gas.
Technological advancements have just pushed the boundaries of
recoverable oil and
gas in the U.S. further, according to an announcement by the U.S. Geological Survey.
«We now have knowledge and comfort that we have an incredible resource base — technically
recoverable resources of 3,000 trillion cubic feet,» said Rita Beale, IHS senior director of power,
gas, coal and renewables.
«No - one can say what the impact might be on
gas prices in the UK, but we shall not see serious production for at least 10 years even if the reserves are both proven and economically
recoverable.
In its 2012 energy outlook, EIA slashed its estimate of unproved technically
recoverable shale
gas nearly in half to 482 trillion cubic feet, still a 20 - year supply based on today's U.S. consumption.
But it remains to be seen if this
gas is
recoverable or good for burning.
There is up to 24 billion barrels of
recoverable oil and
gas left under the North Sea that could kick - start Scotland's future as an independent nation
This new cold war is all about trade and resources: According to a 2008 study by the U.S. Geologic Survey, the Arctic has 20 percent of the planet's undiscovered and
recoverable oil and natural
gas deposits.
The EIA expects that nearly half of all the «technically
recoverable resources» of shale
gas identified so far would be consumed by 2030.
quote: «Not every acre of land under lease contains commercially
recoverable oil or natural
gas resources.
Apart from these unrecoverable sources of fossil fuel the Arctic is also endowed with large amounts of
recoverable oil and natural
gas.
From their PR release: The Committee's year - end 2012 assessment of 2,384 Tcf includes 2,226 Tcf of
gas potentially
recoverable from «Traditional» reservoirs (conventional, tight sands and carbonates, and shales) and 158 Tcf in coalbed reservoirs.
The U.S. Energy Information Agency (EIA) reports that over 1,300 trillion cubic feet of technically
recoverable shale and tight natural
gas and 89 billion barrels 9 of technically
recoverable shale oil resources currently exist in discovered shale and tight sandstone plays.
Temperature increases in the Arctic of a just few degrees could unleash the huge storehouse of methane, which some have estimated would be comparable to burning all
recoverable stocks of coal, oil, and natural
gas.
The Arctic contains the world's largest remaining conventional, undiscovered oil and natural
gas, estimated at 13 percent of
recoverable oil and 30 percent of
recoverable natural
gas resources.
Proved reserves of oil and natural
gas are volumes that geologic and engineering data demonstrate with reasonable certainty to be
recoverable under existing economic and operating conditions.
While natural
gas reserves reached another record in 2014 and oil reserves were the highest since 1972, the technically
recoverable resources from which they came are enormous and will continue to supply proved reserves for Americans for decades to come.
[iii] According to the EIA report, the United States has
recoverable oil resources that are 36 times larger than its proved oil reserves and
recoverable natural
gas resources that are 7 times larger than its proved natural
gas reserves for 2014.
EIA estimates that China holds the largest reserves of technically
recoverable shale
gas in the world, and China was among the first countries outside of North America to develop its shale resources.
A new EIA report shows that shale resources in the United States and worldwide represent 10 percent of the world's crude oil and 32 percent of the world's technically
recoverable natural
gas resources.
As shown in Table 1, estimates in the updated report taken in conjunction with EIA's own assessment of resources within the United States indicate technically
recoverable resources of 345 billion barrels of world shale oil resources and 7,299 trillion cubic feet of world shale
gas resources.
Comparison of the 2011 and 2013 reports ARI report coverage 2011 Report 2013 Report Number of countries 32 41 Number of basins 48 95 Number of formations 69 137 Technically
recoverable resources, including U.S. Shale
gas (trillion cubic feet) 6,622 7,299 Shale / tight oil (billion barrels) 32 345 Note: The 2011 report did not include shale oil; however, the Annual Energy Outlook 2011 did (for only the U.S.) and is included here for completeness.
Technically
Recoverable Shale Oil and Shale
Gas Resources: An Assessment of 137 Shale Formations in 41 Countries Outside the United States
The US Arctic Alaska Petroleum Province holds mean estimates of undiscovered, technically
recoverable oil and
gas resources of nearly 30 billion barrels of oil, about... Read more →
Many oil and
gas companies have restricted their climate analyses to proven reserves — volumes of oil and
gas that are currently economically
recoverable with a high degree of confidence.
shale) for «inferred total
recoverable» oil and
gas at 5,100 bbl and 490 trillion cubic meters, respectively, I end up with a maximum possible CO2 level (from human fossil fuel combustion) of 980 ppmv.
The part of these resources that become economically
recoverable resources will depend on the market price of natural
gas from foreign sources, including both pipeline
gas and liquefied natural
gas, as well as the capital and operating costs and productivity of shale
gas production within China.
China's technically
recoverable shale
gas resources are estimated at 1,115 Tcf.
Climate threshold - The point at which external forcing of the climate system, such as the increasing atmospheric concentration of heat - trapping
gases (greenhouse
gas es), triggers a significant climatic or environmental event which is considered unalterable, or
recoverable only on very long time - scales, such as widespread bleaching of corals or a collapse of oceanic circulation systems.
ENERGY OVERVIEW Energy Minister: Ernesto Martens Rebolledo Head of PEMEX: Raul Munoz Leos Proven Oil Reserves (1 / 1 / 03E): 12.6 billion barrels (see Reserves and Production) Oil Production (2002E): 3.6 million barrels per day (bbl / d), of which 3.18 million bbl / d was crude Oil Consumption (2002E): 1.93 million bbl / d Net Oil Exports (2002E): 1.68 million bbl / d Crude Oil Refining Capacity (1 / 1 / 03E): 1.7 million bbl / d Natural
Gas Reserves (1 / 1 / 03E): 8.8 trillion cubic feet (Tcf)(see Reserves and Production) Natural
Gas Production (2000E): 1.33 Tcf Natural
Gas Consumption (2000E): 1.38 Tcf
Recoverable Coal Reserves (2000E): 1.3 billion short tons Coal Production (2000E): 10.86 million short tons Coal Consumption (2000E): 13.41 million short tons Net Coal Imports (2000E): 2.55 million short tons Electric Generation Capacity (2000E): 38.9 million kilowatts Net Electricity Generation (2000E): 194.37 billion kilowatthours (bkwh); 74 % thermal, 18 % hydro, 5 % nuclear, 3 % other Net Electricity Consumption (2000E): 182.8 bkwh Net Electricity Imports (2000E): 2.07 bkwh
Examples of
recoverable waste heat include cooling circuits in and exhaust
gases from diverse sources such as steel mills, cement plants and combustion engines.
The Beaufort and Chukchi seas off the coast of Alaska contain more technically
recoverable oil and natural
gas than the Atlantic and Pacific coasts combined, according to government estimates.
Two days ago, the New York Times reported that the French Parliament is «leaning» towards a ban on hydraulic fracturing, the American - made technological revolution in production that has vastly increased the known economically
recoverable global reserves of natural
gas.
Access to the world's largest remaining conventional, undiscovered oil and natural
gas reserves — 13 percent of
recoverable oil and 30 percent of
recoverable natural
gas resources — is at stake.
Vast quantities of coal — proven to exist — remain in the ground — but not included on the reserve tally because they are not economically
recoverable at current prices — in part due to the availability of oil and natural
gas.
Estimates of
Recoverable Oil and Gas 30 Years Old Any future drilling will not actually occur for a number of years, and it's not known with much degree of precision who much recoverable oil is in the areas to
Recoverable Oil and
Gas 30 Years Old Any future drilling will not actually occur for a number of years, and it's not known with much degree of precision who much
recoverable oil is in the areas to
recoverable oil is in the areas to be opened.
We have about 2.744 quadrillion cubic feet of technically
recoverable natural
gas.
Today's paper compares this allowable carbon budget with scientists» best estimate of how much oil,
gas and coal exist worldwide in economically
recoverable form, known as «reserves».
Working on an off - specification
gas dispute in relation to a field in the North Sea and advising on whether losses were recoverable under the terms of a Gas Sales and Purchase Agreeme
gas dispute in relation to a field in the North Sea and advising on whether losses were
recoverable under the terms of a
Gas Sales and Purchase Agreeme
Gas Sales and Purchase Agreement.