-U.S. energy reserves exceed official estimates by more than 100%, according to ITG Investment Research.
BANKING AND CREDIT NEWS-October 9, 2012--U.S. energy reserves exceed official estimates by more than 100%, according to ITG Investment Research(C)2012 M2 COMMUNICATIONS http://www.m2.com
9 October 2012 - New York-based execution and research broker ITG (NYSE: ITG) said it has released a report analysing recoverable onshore oil and gas resource in the lower 48 United States.
The 64-page report, No More Guessing: Hardcore IV estimates total remaining recoverable resource at 1.1 quadrillion cubic feet equivalent across 450,000 drilling locations.
ITG said that its new report also noted estimated recoverable resource of 900 trillion cubic feet equivalent in 10 overlapping plays compared to 426 Tcfe for those same plays noted in a study by the US Energy Information Agency.
The company said that the new study is based on a county-by-county dispatch curve for 37 major onshore plays. According to the study, of the 1.1 Qcfe in resource, over 680 Tcfe comes from gas-prone counties, 210 Tcfe from liquids-rich counties and over 30 b barrels of oil equivalent from oil-prone counties.
The Marcellus shale holds the largest remaining recoverable resource at 330 Tcfe, followed by the Eagle Ford and Bakken shales at 152 Tcfe (25 Bboe) and 72 Tcfe (12 Bboe), respectively.
ITG is headquartered in New York with offices in North America, Europe, and Asia Pacific. For more information, visit www.itg.com.
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