Energy Dept. Slashes US Shale Gas Estimate By 40%

Law360, New York (January 23, 2012, 5:04 PM EST) -- The U.S. Department of Energy on Monday slashed its estimate of domestic shale gas resources by more than 40 percent, reducing its figure for the gas commonly extracted through hydraulic fracturing from 827 trillion cubic feet to 482 trillion cubic feet.

The new estimate came in the U.S. Energy Information Administration’s Annual Energy Outlook 2012 and represents the country’s so-called unproven technically recoverable shale gas resources.

The bulk of the decline comes from a decrease in the EIA’s estimate of natural gas in the Marcellus Shale,...
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