GLG News by Mr. Dennis Fagerstone, Consultant
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June 30, 2009
Estimate Places Natural Gas Reserves 35% Higher | www.nytimes.com
This article correctly states that new technology has opened many areas in the US and worldwide for natural gas development. The 35% increase, however, is for resources, which is very different than reserves. These resources must be proven to be commercialy feasible for development before classification as reserves. At natural gas prices below $6/mmbtu, only 20-30 % of these resource plays in the US are commercial at present development cost levels. The quality of these unproven supplies must also be confirmed by drilling and testing. Adequate natural gas prices will be necessary to support development and conversion of this gas to reserves.
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