•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    First USGS assessment of Utica Shale puts shale gas resources at 38 tcf

    USGS

    The Utica Shale contains about 38 trillion cubic feet of undiscovered, technically recoverable natural gas (at the mean estimate) according to the first assessment of this continuous (unconventional) natural gas accumulation by the US Geological Survey.  The Utica Shale has a mean of 940 million barrels of unconventional oil resources and a mean of 208 million barrels of unconventional natural gas liquids.

    The Utica Shale lies beneath the Marcellus Shale, and both are part of the Appalachian Basin, which is the longest-producing petroleum province in the United States. The Marcellus Shale, at 84 TCF of natural gas, is the largest unconventional gas basin USGS has assessed.  This is followed closely by the Greater Green River Basin in southwestern Wyoming, which has 84 TCF of undiscovered natural gas, of which 82 TCF is continuous (tight gas).

    "Understanding our domestic oil and gas resource potential is important, which is why we assess emerging plays like the Utica, as well as areas that have been in production for some time" said Brenda Pierce, USGS Energy Resources Program Coordinator.  "Publicly available information about undiscovered oil and gas resources can aid policy makers and resource managers, and inform the debate about resource development."

    The Utica Shale assessment covered areas in Maryland, New York, Ohio, Pennsylvania, Virginia, and West Virginia.

    These new estimates are for technically recoverable oil and gas resources, which are those quantities of oil and gas producible using currently available technology and industry practices, regardless of economic or accessibility considerations.

    This USGS assessment is an estimate of continuous oil, gas, and natural gas liquid accumulations in the Upper Ordovician Utica Shale of the Appalachian Basin. The estimate of undiscovered oil ranges from 590 million barrels to 1.39 billion barrels (95 percent to 5 percent probability, respectively), natural gas ranges from 21 to 61 TCF (95 percent to 5 percent probability, respectively), and the estimate of natural gas liquids ranges from 4 to 16 million barrels (95 percent to 5 percent probability, respectively).

    Related Articles

    Carrizo Oil & Gas CFO retires; new CFO named

    08/13/2014 Carrizo Oil & Gas Inc. reports that Paul F. Boling, vice president, CFO, secretary, and treasurer, has retired, effective Aug. 11. In connection with Boling's retirement, Carrizo has named Davi...

    Regency and AE-MIDCO Enter Into Joint Venture

    08/07/2014 Regency Energy Partners LP and American Energy – Midstream LLC (AE-MidCo) have entered into a joint venture agreement for the construction and operation of Regency’s previously announced Utica Ohio...

    AEU and AEM close Utica and Marcellus acquisitions

    08/06/2014 American Energy – Utica, LLC and American Energy – Marcellus LLC have closed on separate transactions to buy leasehold acreage in the Utica and Marcellus shale plays, respectively.  

    East Resources closes Utica and Marcellus divestitures

    08/06/2014 East Resources Inc. has closed on separate agreements, along with an unnamed joint venture partner, to divest of leasehold acreage in the Utica and Marcellus shale plays to American Energy – U...

    PDC to sell interest in PDCM Marcellus JV; increases Utica acreage

    07/30/2014

    PDC Energy Inc. has agreed to sell its 50% interest in PDC Mountaineer LLC, a Marcellus joint venture, to Mountaineer Keystone Energy LLC for $250 million.

    More Oil & Gas Financial Articles

    Carrizo Oil & Gas CFO retires; new CFO named

    Wed, Aug 13, 2014

    Carrizo Oil & Gas Inc. reports that Paul F. Boling, vice president, CFO, secretary, and treasurer, has retired, effective Aug. 11. In connection with Boling's retirement, Carrizo has named David L. Pitts as its new CFO and treasurer, in addition to his current roles.

    Regency and AE-MIDCO Enter Into Joint Venture

    Thu, Aug 7, 2014

    Regency Energy Partners LP and American Energy – Midstream LLC (AE-MidCo) have entered into a joint venture agreement for the construction and operation of Regency’s previously announced Utica Ohio River Project.

    AEU and AEM close Utica and Marcellus acquisitions

    Wed, Aug 6, 2014

    American Energy – Utica, LLC and American Energy – Marcellus LLC have closed on separate transactions to buy leasehold acreage in the Utica and Marcellus shale plays, respectively.

     

    East Resources closes Utica and Marcellus divestitures

    Wed, Aug 6, 2014

    East Resources Inc. has closed on separate agreements, along with an unnamed joint venture partner, to divest of leasehold acreage in the Utica and Marcellus shale plays to American Energy – Utica LLC and to American Energy – Marcellus LLC.

     

    PDC to sell interest in PDCM Marcellus JV; increases Utica acreage

    Wed, Jul 30, 2014

    PDC Energy Inc. has agreed to sell its 50% interest in PDC Mountaineer LLC, a Marcellus joint venture, to Mountaineer Keystone Energy LLC for $250 million.

    Most Popular

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ