Today, unconventional gas sources are making a difference in North American natural gas supply, important in replacing production in classically declining conventional gas fields in the U.S. and Canada. Not so many years ago there was little coalbed methane gas production and very little production of methane from fractured gas shales. There was, however, measurable supply from newly drilled gas wells in deep formations.
This webcast will focus on the growing activity in CBM and gas shales, leaving discussion of deep gas for another time. The CBM/gas shale growth story is based on improving economics - it took a steady increase in demand and a higher gas prices over a multi-year period to induce development in these two areas of unconventional production.
This recent change is due to the growth and popularity of CBM and gas shale opportunities among producers, availability of leases, lower costs in drilling and development, the unique producing life of typical unconventional gas fields -- and now the importance of them both to the North American gas supply. As of 2006, CBM and gas shale together accounted for over 11% of the North American gas supply, and still growing.
This presentation will delve into the reasons for growth, drivers and axioms of business for these two unconventional gas opportunities in the U.S. and Canada.