A concise and fascinating piece – with a useful graphic on unconventional gas risk factors – just published in Petroleum Economist (behind a paywall but free for 48 hours, post-registration) by three Schlumberger business consultants – Herve Wilczynski, Muqsit Ashraf and Mohammed Saadat, the opening paragraph of which I’ve appended below;
Shale gas: a risk worth taking
“UNCONVENTIONAL gas accounts for half of North American production, with investment exceeding $25bn a year. Although this has changed the continent’s energy outlook, there may be a bigger prize: nearly 75% of the world’s shale-gas resources lie outside the region.”
Not least I might add, in Europe – to find out more about Europe’s shale gas prospects, attend our event in London on the 20th January, Shale Gas in Europe.
My gut feeling is that Shale gas in Europe is going to move a lot faster than anticipated. And not just because the extreme winter is driving up gas prices to 2 year record highs prompting gas balancing alerts.
Do not underestimate the technical progress that could be made in just a few years in lowering the cost and increasing the quantity of shale gas extraction.