Valin Posted December 22, 2015 Share Posted December 22, 2015 Via Meadia: Dec 21 2015 One of America’s most productive shale basins has twice as much natural gas and a lot more oil than was previously estimated, according to a new U.S. Geological Survey report. The Barnett Shale formation is in north central Texas, and within it you can find hydrocarbons galore. The Texas Tribune reports: (Snip) The previous USGS estimates were based on 2003 data, and much has changed in America’s energy landscape since then. In fact, the doubling of Barnett’s estimated natural gas reserves in just a dozen years is an excellent illustration of how hydraulic fracturing and horizontal well drilling have fundamentally transformed the U.S. energy landscape. There’s been plenty of talk about the ability of U.S. shale firms to continue profitably to drill in today’s oversupplied bearish crude market. While output has flagged somewhat in recent months, it hasn’t fallen off to the extent that many expected, and the estimates of the reserves they’re plumbing are being revised upwards. That means the U.S. will be able to draw from this formation for longer than we knew. America’s energy future is still bright. Link to comment Share on other sites More sharing options...
Valin Posted December 22, 2015 Author Share Posted December 22, 2015 Related...A Blast From The Past Link to comment Share on other sites More sharing options...
clearvision Posted December 22, 2015 Share Posted December 22, 2015 Just the news the industry needs right now... Link to comment Share on other sites More sharing options...
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