UK Shale Gas Numbers Could Be Stratospheric
By Peter C Glover
EXTRACTS
Should we? Shouldn’t we? While Europe dithers over whether the blatant economic success of the US shale gas ‘miracle’ will translate to these shores, the UK Government has been slightly more pro-shale active. But, while the threat of (liberal democrat-instituted) over-regulation still casts a shadow, the pro-shale (mostly conservative) wing of government looks set for a stratospheric boost.
For the second time in the last couple of months, the London Times reports industry sources as claiming the upcoming British Geological Survey’s (BGS) official assessment of UK shale reserves, due next month, will be “increased dramatically”. If the report is to be believed, the figures being touted for domestic reserves could well prove to be a dazzling “200 times greater than experts previously believed”.
So where does the UK shale gas prospect stand exactly in relation to, say, what is happening in the US? Well that’s where it ought to get really exciting for the UK generally. In the big Marcellus and Barnett shale plays in the United States the formations are generally about 300 feet thick. In places, the UK shale formation is 6,000 feet thick. Speculation in the industry generally suggests that the overall size of the Bowland Shale alone could be as high as 1,000 trillion cubic feet.
FULL ARTICLE published on 14 February 2013
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