American Gas - July 2011 - (Page 9)

PeoPle Trends evenTs news PGC RePoRts ReCoRd u.s. NatuRal Gas ResouRCe The naTion’s undiscovered natural gas industry resource base stood at 1,898 trillion cubic feet (Tcf) at the end of 2010, the Potential Gas Committee (PGC) reported in April, an increase of 61 Tcf over the committee’s previous report two years ago. This is the highest resource evaluation in the PGC’s 46-year history. Most of the increase came from reevaluation of shale-gas plays in the Gulf Coast, Mid-continent and Rocky Mountain areas. The 3 percent increase is one of the largest in the committee’s history, though it is dwarfed by the 36 percent hike announced two years ago, a report that drew widespread attention to the nation’s huge technically recoverable shale-gas resource. The 1,898 Tcf total includes 1,739 Tcf of gas attributable to “traditional” reservoirs—conventional, tight sands and carbonates, and shales—and 159 Tcf in coalbed reservoirs. Compared with year-end 2008, traditional resources increased by nearly 67 Tcf, or 4 percent, while coalbed gas resources declined by 4 Tcf. When the PGC’s results are combined with the Department of Energy’s latest available determination of proved dry-gas reserves—273 Tcf as of year-end 2009—the United States has a total available future supply of 2,170 Tcf, an increase of 89 Tcf over the previous evaluation. “This report confirms once again our great optimism regarding natural gas supply in America,” said AGA President and CEO Dave McCurdy. “Abundant, diverse supply has helped to stabilize natural gas prices and ensure reliability for natural gas customers even if sudden shifts in demand occur—weather induced or otherwise. This is welcome news for consumers across the nation.” Overall, the Gulf Coast, including the Gulf of Mexico Outer Continental Shelf, remains the country’s richest resource area, with 29 percent of total traditional reserves, followed by the Atlantic, Rocky Mountain and Midcontinent areas. Changes in the assessments from 2008 to 2010 arose primarily from analyses of new geological, drilling, well-test and production data from these same four regions. The largest july 2011 AmericAn GAs 9

Table of Contents for the Digital Edition of American Gas - July 2011

American Gas - July 2011
Contents
President’s Message
In the Know
In the News
Safety First
Integrity Management Fuels Innovation
GTI: A Trifecta of Technology Approaches
NYSEARCH: Technology Equals Solutions
AGA 2011 Membership Directory
Places to Be
Noteworthies
Marketplace
Jobline
Advertisers’ Index
Facts on Gas

American Gas - July 2011