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North American Shale Gas Resources Estimated at 3.3 Quadrillion Cubic Feet (Qcf), NGI Reports



  North American Shale Gas Resources Estimated at 3.3 Quadrillion Cubic Feet
  (Qcf), NGI Reports

Business Wire

DULLES, Va. -- October 08, 2012

Separate studies released in the last week by two respected Canadian firms,
one of Western Canadian shale gas resources and another of the U.S. shale gas
base have moved the tally of North American potential to a new plateau, beyond
the trillions (Tcf) to 3.3 quadrillion cubic feet (Qcf), according to reports
by Natural Gas Intelligence (NGI).

Calgary-based Sproule Associates, the oldest and still one of the biggest
Canadian petroleum engineering and geology consulting firms, last week
announced its survey of just five of 50 shale basins that have been identified
in Western Canada produced a resource base estimate of between 809 and 2,222
Tcf or 2.2 Qcf.

A new analysis by ITG Investment Research, also based in Calgary, entitled "No
More Guessing: Hardcore IV," shows the U.S. Lower 48 onshore has 1.1 Qcfe of
recoverable resources across 450,000 drilling locations. While the total
includes data from 37 U.S. shale plays, ITG estimates recoverable resources of
900 Tcfe in just 10 overlapping plays, compared to 426 Tcfe for those same
plays as estimated in a recent study by the U.S. Energy Information Agency.

It all adds up to a potential of 3.3 Qcf. The review of Canadian resources by
Sproule is more speculative because less confirming drilling and development
has been done there. The report states that, "given the early stage of
development and the relatively limited production data available for each of
these plays, a range of outcomes is most appropriate because the level of
uncertainty is high." The company's report was filed with Canada's National
Energy Board in support of the biggest tanker export terminal for liquefied
natural gas (LNG) proposed so far on the northern Pacific Coast of British
Columbia: the LNG Canada project by Shell Canada and subsidiaries of
Mitsubishi Corp., Korea Gas Corp. and PetroChina Investment.

While the two studies used different methodologies, combining them gives a
rough total of the shale resources available in the northern two-thirds of
North America.

For more information go to ShaleDaily.com, sign up for a free trial, and check
out the two stories: "U.S. Has 1.1 Quadrillion Cubic Feet of Resource, Says
Researcher" and "Report Puts Canadian Shale Gas Resource Base at Up to 2,222
Tcf."

Intelligence Press Inc., is an independent publishing company serving the
energy industry since 1981 with real-time news and price survey reports for
the natural gas market in its publications: Natural Gas Intelligence, Daily
Gas Price Index, Weekly Gas Price Index. Its new publication, NGI's Shale
Daily is the first daily publication devoted exclusively to the unfolding
shale revolution that is rewriting the energy outlook in North America.

Contact:

Intelligence Press, Inc.
James Geanakos, 703-318-8848
james@intelligencepress.com
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