The USGS recently released a jaw-dropping report estimating the volumes of natural gas that lie in the Appalachian Basin. The previous study, conducted in 2011, concluded the Marcellus held 84 Tcf of gas and the Point Pleasant-Utica 38 Tcf. Now, eight years and a wealth of new geological information and drilling technologies later, those initial assessments have flown out the window.
RMR today is studying this month’s announcement by the USGS which rewrites everything we knew about how much gas exists in all that shale rock. New estimates suggest that the Marcellus and Utica hold 214 Tcf of undiscovered but technically recoverable natural gas. According to the report, the Marcellus also contains an estimated 1.5 billion Bbls of NGLs; the Utica 985 million Bbls. Our vast natural gas resources also are powering and creating more new industries than we could ever have imagined, thanks to nothing less than pure American ingenuity.
What do you think?