Shale Natural Gas Solid for 10 Years

From Herald News Services
Published: Saturday, November 22, 2008

Washington - U. S. natural gas production from shale could double in the next 10 years, a spokesman for the natural gas industry said on Friday.

"What we've seen so far from shale fields is just the tip of the iceberg," terry ruder, vice-chairman of the Natural gas Supply association, said at a conference sponsored by the Federal energy regulatory commission.

Ruder said U. S. shale reserves could provide one-quarter of the nation's natural gas supply in the next decade, up from about 10 to 12 per cent of U. S. gas demand in 2008.
He said U. S. shale production could grow to 15-billion to 20-billion cubic feet per day by 2018, from about 6-8 bcf per day now.

There are about 20 major shale fields in the U. S. that produce or have potential to produce natural gas, including the Bakken field in North and South Dakota and the Haynesville area in east Texas and Louisiana.

Ruder and other industry representatives at the conference expressed concern a potential windfall profits tax could hinder shale output.

"Shale developments are highly capital intensive and a windfall profit tax assessment . . . would directly and immediately reduce investment in U.S. shale developments and adversely affect production," Ruder said.