New Marcellus Discovery May Depress Gas Prices and Slow Development
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Martin Saffer
Sep 22, 2011
9:13 pm
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New Marcellus Discovery May Depress Gas Prices and Slow Development
UK Shale Gas: Larger Than the Marcellus Shale Perhaps not larger but certainly deeper. Cuadrilla Resources, the company which claims to have found a huge new shale gas field in Lancashire, has revealed a little more about their find. They claim that the field is 5 – 10 times deeper than the Marcellus shale in the US. Which means that it’s absolutely huge: Executive director Dennis Carlton said initial results show a basin five to 10 times thicker than America’s Marcellus shale. It doesn’t have the width of the Marcellus shale, this is true, but at that sort of depth it doesn’t really need to. Various people are playing with numbers on the backs of envelopes and all of the results coming back are that this is a game changer. 200 trillion cubic feet is one estimate of the holdings of the entire reserve and if 20% is recoverable (a reasonable sort of number) then that would replace all UK gas imports for the next 30 years. |