Energy Solutions Inc. Publishes Semi-Annual Natural Gas Price Outlook
VERONA, Wis., Nov. 28, 2012 /PRNewswire/ — According to Energy Solution Inc.’s Natural Gas Price Outlook, U.S. shale gas production has increased 12-fold over the past decade. In fact, shale gas drilling now accounts for about half of the total active rigs targeting natural gas in the U.S.
Shale gas is natural gas stored in organic-rich, very fine-grained rocks such as shale, mudstone or laminated siltstones. Technical challenges and cost issues previously deterred shale gas development. However, technological advancements have made it possible to develop shale gas resources efficiently and economically. Advancements in horizontal drilling and hydraulic fracturing technologies have unlocked an unprecedented opportunity for the natural gas industry, transforming the U.S. into a natural gas giant.
According to Energy Solutions’ Natural Gas Price Outlook, shale gas will account for a greater share of future overall natural gas production. What is questionable, however, is exactly how much shale gas exists. One of the fastest growing shale basins is the Marcellus Shale basin. Extending across parts of Pennsylvania, New York, Ohio, and West Virginia, the Marcellus Shale is estimated to hold approximately 76 trillion cubic feet (Tcf) of undiscovered, technically recoverable natural gas. Several new plays also are under evaluation; just two of these plays are estimated to hold approximately 122 Tcf of undiscovered, technically recoverable natural gas.
Even though shale gas extraction is still in its infancy stages, it has had a strong impact in the natural gas industry. U.S. natural gas production has climbed at a staggering pace, while natural gas prices have fallen to ten-year lows. Natural gas supplies have been outpacing demand, but that begins to change toward the end of 2013. Energy Solutions Inc’s Natural Gas Price Outlook takes an in-depth look at how shale gas production will change altering long-term natural gas pricing structures, the flow of gas supplies, and consumer expectations over the next several years.
Published twice a year, Energy Solutions Inc.’s analysis, Natural Gas Price Outlook, provides the tools needed to implement a cost-effective natural gas strategy for the next 24-36 months. This 50-plus page, comprehensive analysis evaluates numerous price drivers and is a must-read for those who want answers to what the future holds for natural gas prices.
Natural Gas Price Outlook is available at a discounted rate of $249 through November 30, 2012. For more information, to view an executive summary or to reserve your copy, visit www.NaturalGasOutlook.com or call (608) 848-9589.
Formed in 1996, Energy Solutions, Inc. is independently owned. With more than 50 years of experience in the natural gas industry, our team focuses on natural gas prices and helping businesses improve their internal processes for the purchase of natural gas.
Press Contact: Valerie Wood
Tel: (608) 848-6255 / Fax: (608) 848-6256
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SOURCE Energy Solutions, Inc.