U.S. to Slash Marcellus Shale Gas Estimate 80%

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"The revised estimates are likely to spur a debate over industry projections of the potential value of shale gas."

Bloomberg, Jim Efstathiou Jr. and Katarzyna Klimasinska

The U.S. will slash its estimate of undiscovered Marcellus Shale natural gas by as much as 80% after an updated assessment by government geologists.

The formation, which stretches from New York to Tennessee, contains about 84 trillion cubic feet of gas, the U.S. Geological Survey said today in its first update in nine years. That supersedes an Energy Department projection of 410 trillion cubic feet, said Philip Budzik, an operations research analyst with the Energy Information Administration.

The revised estimates are likely to spur a debate over industry projections of the potential value of shale gas. . .View Full Article

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