Led by growth in the Marcellus and Utica shale plays, the United States has a record future supply of natural gas, according to the latest biennial report from the well-respected Potential Gas Committee. This assessment of the nation’s technically recoverable natural gas assets is the highest in the committee’s 54-year history and represents a 20% increase from 2016.
The Appalachia region, in fact, ranks as the country’s richest resource area with 41% of the total asset base and represents the largest volumetric gains since the prior report. What’s more, the growth in future supply comes as domestic natural gas production reaches a new record.
“Thanks to shale and production from Appalachia, the U.S. has rapidly transformed from a nation increasingly reliant on energy imports to the global leader in natural gas production,” MSC president David Spigelmyer said. “This positive shift in America’s energy outlook continues to drive meaningful economic and environmental progress while boosting national security.”
Key takeaways from the report include:
- “The United States possesses a total mean technically recoverable resource base of 3,374 trillion cubic feet (Tcf) as of year-end 2018. This is the highest resource evaluation in the Committee’s 54-year history, exceeding the previous high assessment (from year-end 2016) by 557 Tcf (increase of about 20%).”
- “The largest volumetric gains (264 Tcf or 25%) were reported in the Atlantic area. The major reason for the increase is new drilling and production results from Marcellus and Utica shale plays in the Appalachian basin.”
- “The importance of shale gas in the USA is evidenced by the fact that the PGC’s mean total assessed shale gas resource of 2,107 Tcf for year-end 2018 accounts for approximately 62% of the country’s total potential resources. The growth of shale gas resources from year-end 2016 to year-end 2018 was 310 Tcf (17%).”
The Potential Gas Committee’s report confirms America’s generational abundance of clean, affordable energy. And the responsible development, transport and use of natural gas will continue to unlock economic, clean air and national security progress.
These broad, shared benefits are a few reasons, of many, why Americans support domestic energy development and “fear” – as a Rasmussen Reports survey found – the devastating results of a ban on development.
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