Shale Formations and the impact that natural gas and oil extracted from the shale formations are having on the energy crisis.
Ten years ago, the oil and natural gas companies avoided shale formations. Although the shale formations were known to contain oil and gas in large quantities, extracting the oil and gas from the formations was considered a difficult task. Now the technology for extracting oil & gas from the shale formations is well-developed. How the times have changed! Now the oil & gas companies eagerly seek out shale formations.
Over twenty shale formations with substantial oil & gas reserves are known to be located in the U.S. A few examples of the better known shale formations are named below:
1. Bakken Shale Formation of North Dakota - I have listed the Bakken first because it is undoubtedly the best known shale formation. Significantly, it is the only shale formation discussed that produces mostly crude oil. The others produce mostly natural gas although a few produce significant amounts of both gas and oil.. Estimates of the oil reserves in the Bakken Formation range from about 3 billion barrels to about 500 billion barrels. What a range of estimates! The oil reserve estimates, to a large degree, depend on the existing market price of oil.
2. Haynesville Shale Formation of Northwestern Louisiana - This is my favorite shale formation since it is in my home state of Louisiana and since I have a few acres of mineral rights there. The Haynesville formation is a huge natural gas reservoir with natural gas reserves of up to 300 trillion cubic feet of natural gas. That is the present estimate. And since drilling is ongoing and no dry holes have yet been drilled, the reserve estimates are likely to continue growing as the boundary of the shale formation is expanded. The Haynesville Shale Formation field may end being the largest shale formation natural gas field although the Marcellus Shale Formation field presently strongly competes for that distinction.
3.Barnett Shale Formation - located in Texas. The Barnett Shale, until recently, was considered the largest shale formation natural gas field in the US. It has now lost that distinction to both the Haynesville and the Marcellus shale formation fields.
4. Marcellus Shale Formation natural gas field located in the eastern states of West Virginia, Pennsylvania, New York and adjacent states. The Marcellus field is a truly massive natural gas field with some estimates of natural gas reserves running up to 3,000 trillion cubic feet.
Shale Formations Websites
1. Oil & Energy Company Stocks. Peak Oil may not be far away and alternative energy sources are still in the development stage. We will need the fossil fuels such as oil & natural gas, to serve as a "bridge" until alternative energy sources are developed. Consequently, oil company stocks should again be good investments.
2. Bakken Shale Formation oil Whoever thought there could be a giant shale oil field in North Dakota? Estimates run from a few billion barrels to 500 billion barrels. How much is recoverable oil is the big question!
3. Bakken Oil Companies The Bakken Formation in North Dakota is the hottest oil field at the present time and oil companies are rushing to develop it.
Summary: Shale Formation Natural Gas and Oil
The shale formations of the US are discussed. The shale formation natural gas and oil reserves are of such magnitude that the reserves will favorable affect the energy crisis in the US.
Last Updated: 02/05/17