Friday, 14 March 2014

Latest NW gas estimates

by Peter Glover 10 Mar 2014 
The estimate for Cuadrilla's shale gas resource in England's north-west Bowland Shale formation has just received another significant boost. After conducting further studies, a company geologist now puts the deposit at around 330 trillion cubic feet (tcf); an increase of 50 percent on its previous - believed to be a highly conservative - assessment of 220 tcf.
And that is just in Cuadrilla's own licensing area. Last summer an independent British Geological Survey(BGS) suggested the total in the shale basin may well exceed a mind-boggling 1,300 tcf.  
To put that in perspective, even on Cuadrilla's lower assessment, this would make the UK's Bowland Shale deposit the largest shale gas basin in the world. 

I do not know if these figures are accurate or pure propaganda! They ought to be the starting point for discussions.  Personally, I am always wary of such definitive statements and treat them with suspicion until after I have done research.   Unfortunately for me, the person who sent this article to me is a former Cambridge economics graduate, so one expects that he, having been in Banking research and major investments all his life, would have an insight on this subject.  But then again he keeps sending me instant cures for diabetes and arthritis!?!?
You can't win them all!