Global Shale Oil and Gas Estimates Expand
Recently revised estimates of global shale oil and gas resources from the Energy Information Administration (EIA) of the US Department of Energy represent a significant increase over the EIA's 2011 estimates. Technically recoverable shale oil (tight oil) grew more than tenfold, due to the inclusion of formations outside the US, while estimated global shale gas resources rose by 10%. With these revisions, shale formations now constitute 10% of global crude oil resources and nearly a third of global natural gas resources, although the actual impact of these...
13 July 2013