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GRI Study Optimistic on Future Supply

GRI Study Optimistic on Future Supply

A newly released Gas Research Institute study examining the shift in perceptions of the U.S. gas resource base, titled "Changing Perceptions Of Remaining U.S. Conventional Gas Resources," discusses how the move -- from the shortage mentality of the 1970s to today's view that gas is abundantly available -- has resulted from an interplay of factors. Factors discussed include increased exploration success rates in frontier plays, improved gas well recoveries and continued reserve appreciation activity in existing fields. GRI, with Energy and Environmental Analysis Inc. of Arlington, VA, developed the study.

One of the most notable observations comes from an analysis of the discoveries in the deep-water Gulf of Mexico, which concludes that 9.7 billion barrels of liquids and 40.1 Tcf of gas have already been found in the deep-water play. Such a level of confirmed discoveries is beginning to challenge the lower range of total deep-water potential envisioned as recently as 1995. A projection at the field level for 85 deep-water fields currently producing or scheduled to go online in the near future indicates that production of 1.6 million barrels per day of oil and more than 5 Bcf/d of gas can be expected. Comparison to newly constructed deep-water pipeline capacity confirms this interim assessment.

The report can be ordered directly from the GRI Document Fulfillment Center, 1510 Hubbard Drive, Batavia, IL 60510, or fax, 630-406-5995. The report is $25 for GRI members and $35 for nonmembers, plus shipping and handling. Joe Fisher, Houston

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ISSN © 2577-9877 | ISSN © 1532-1266
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