The Long-term Outlook for Natural Gas Saudi Arabia United States Energy Consultation February 2, 2011 Washington, D.C. Richard G. Newell, Administrator
30% domestic gas production growth outpaces 16% consumption growth, leading to declining imports U.S. dry gas trillion cubic feet per year 30 History 2009 Projections 26.5 Tcf 1% 25 23.2 Tcf Consumption 26.1Tcf Net imports 11%…
Horizontal drilling and hydraulic fracturing Source: ProPublica, Richard Newell, February 2, 2011 3 http://www.propublica.org/special/hydraulic-fracturing-national
Success in the Barnett prompted companies to look at other shale formations in the United States Richard Newell, February 2, 2011 4
Over the last decade, U.S. shale gas production has increased 14-fold and now comprises about 22 percent of total U.S. production annual shale gas production trillion cubic feet 5 4 Antrim Barnett Fayetteville Woodford Haynesville…
Shale gas has been the primary source of recent growth in U.S. technically recoverable natural gas resources U.S. dry gas resources trillion cubic feet 3,000 2,552 2,500 Unproved shale gas 827 2,000 1,500 Unproved other gas 1,481…
Four-fold increase in shale gas production offsets declines in other U.S. supply, meeting consumption growth and lowering import needs U.S. dry gas trillion cubic feet per year History 2009 Projections 30 1% 25 Net imports 11% 20…
Natural gas price projections are significantly lower than past years due to an expanded shale gas resource base natural gas spot price (Henry Hub) 2009 dollars per million Btu 10 2009 History Projections Updated AEO2009 8 AEO2010…
Schlumbergers recent partial assessment of global shale gas resources Worldwide shale potential A 2007 study ranked 688 shale formations in 142 petroleum basins. Richard Newell, February 2, 2011 Source: Schlumberger 9
EIA is currently compiling geological studies and analyzing basin reservoir properties in 33 countries to estimate the technically recoverable shale gas resources Outline for Each Gas Shale Region/Country 1. Region/Country 2.…
For more information U.S. Energy Information Administration home page www.eia.gov Short-Term Energy Outlook www.eia.gov/emeu/steo/pub/contents.html Annual Energy Outlook www.eia.gov/oiaf/aeo/index.html International Energy Outlook…