According to the USGS assessment, the Marcellus Shale contains about 84 trillion cubic feet of undiscovered, technically recoverable natural gas and 3.4 billion barrels of undiscovered, technically recoverable natural gas liquids.
How much oil does the Bakken Formation produce and how does this compare to what the United States uses?
The USGS does not maintain statistics on oil production or oil consumption.
“Technically recoverable” means that the oil and/or gas can be produced using currently available technology and industry practices. This is regardless of any economic or accessibility considerations.
Traditional oil fields extract oil from rocks with relatively high porosity and permeability, so the oil flows out fairly easily.
The USGS uses a statistically-based process to calculate the likely range of its estimate. The range of values extends from a 5% or greater likelihood of occurrence (the F5 value, or largest estimated value) to less than 95% likelihood of occ
Environmental issues include:
The USGS provides estimates of undiscovered, technically recoverable resources that have yet to be found (drilled), but if found, could be produced using currently available technology and indu
What is the difference between assessed “resources” and “reserves”? Why doesn’t the USGS assess both?
RESERVES are quantities of oil and gas that are already discovered, recoverable, and commercial.The USGS assesses UNDISCOVERED RESOURCES, which are those that are estimated to exist based on geologic knowledge and theory.
The USGS publishes its oil and gas resource assessments on the Energy Resources Program web site as soon as they are completed, peer reviewed by scientists knowledgeable about the subject, and formatted
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