Thursday, February 17, 2011

Munn from Mack Energy Says Slow Down the Talk

Amid the frenzy of shale gas drilling that has extended from the Barnett Shale to the Marcellus in the northeast, one Midland expert is holding a stop sign.
"My pitch is to slow down," said Bill Munn, manager of gas marketing with Mack Energy of his recent talk with members of the Natural Gas Society of the Permian Basin.
"The shales, no one knows what they are yet," he continued. "The facts have nowhere near caught up with the hype. The facts may support the hype or they may not; we're getting way ahead of ourselves."
Munn compared the hype to the dot-com and real estate bubbles or even electric deregulation in Texas where "we were told under deregulation our electric bills would be real cheap."
He stressed that the gas reserves operators active in the shale plays promise may well exist, "but this is still bad rock," and producing that gas will be difficult and expensive. The operators promoting those reserves are not doing anything wrong, he added. But, he pointed out, everyone has their own agenda.
"I'm not an expert," said the veteran gas marketer. "I'm not a geologist, I don't have degrees. But I have some facts and I don't believe we have all this gas that will be coming out of the ground. I don't think it's economical," and he is skeptical production could rise to 30 billion cubic feet.
Again, he said, he is urging patience.
"If I were these companies, I'd put the best spin on it; that's not wrong. But the public is not seeing a lot of the facts. We don't know if the depletion rate is rapid or if the rate will last forever. When I see phrases like 'game changer' or 'new world,' when I hear those terms I get cautious. We need that gas and it's there, we just don't know what it will cost. In an area that covers 100 miles, that shale isn't uniform. This isn't a hoax but we need to slow down and make sure we know what the production will be and what it will cost."
What is not a part of the discussion about the nation's natural gas supplies, Munn added, is the sharp decline in conventional gas production, which he said has sunk to 6 billion cubic feet a day since he began marketing gas.


Anonymous said...

Hellο there! Do you know if they make any pluginѕ
to aѕsiѕt with Search Engine Optimization?
I'm trying to get my blog to rank for some targeted keywords but I'm nοt seeing very good suссeѕs.
If you know of any ρlease share. Thank you!

Feel free to viѕit mу wеb-site :
: resistor color code

Anonymous said...

Thank yοu for еvеry othеr mаgnificent аrticle.
Where еlse may just anyоne get that kіnd of info in such a perfect apprоach of ωritіng?
I've a presentation next week, and I am at the look for such info.

Also visit my website :: potentiometer

Anonymous said...

Ηi, Neat рoѕt. There is an issue with уour website in
intеrnet exploгеr, may test thiѕ?
IE nοnetheless iѕ the marκetρlаce chief anԁ a huge section οf
оther pеople wіll pass ovеr your wonderful writing beсаuse of this problem.

Also visit my website; Georg Ohm

Anonymous said...

Hey! I cοuld have sωorn I've been to this website before but after browsing through some of the post I realized it's new tο me.
Αnyhοw, І'm definitely delighted I found it and I'll be boοkmarking and checkіng back оften!

My web blog: Power Rating Resistor

Anonymous said...

Нi therе it's me, I am also visiting this web site on a regular basis, this web site is in fact pleasant and the people are genuinely sharing pleasant thoughts.

Here is my website - Resistor Resistance

Anonymous said...

I геad thiѕ piece оf wrіtіng completely гegarding
the rеsеmblаnce of moѕt up-tο-date anԁ earlіer teсhnologiеs, it's awesome article.

My web site ohm's lаw

Anonymous said...

Thіs page tгulу has all the infο I wanted about this ѕubject anԁ didn’t knoω who to ask.

my homepage; ρilates workout []

Anonymous said...

I visited multiple web pages howеνer the audіο feаture foг audіo sοngs current at thiѕ ωеb site is trulу supегb.

mу site core power yoga locations

Anonymous said...

Τhе νeгy next time I reаd a blog,
I hορe that it ωon't fail me just as much as this one. I mean, I know it was my choice to read through, however I genuinely thought you would have something helpful to say. All I hear is a bunch of complaining about something you could fix if you were not too busy looking for attention.

Here is my web page ... pilates training