Energy Department reduces Marcellus shale gas reserves estimate by 66%
|In its Annual Energy Outlook report released yesterday, the U.S. Energy Department decreased its estimate of recoverable gas in the Marcellus shale from 410 trillion cubic feet to 141 trillion – a reduction of 66 percent, according to an article in Businessweek. Estimates of the amount of gas that can be produced from shale basins nationwide decreased 42 percent from 827 trillion cubic feet to 482 trillion, the article said. The Marcellus reserves are now projected to be capable of meeting U.S. gas demand for six years, down from the estimate of 17 years reported in last year's outlook. For more read the Businessweek article here and the early release version of the Annual Energy Outlook report here. (Read the report.)|
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