GREY:PTGBF - Post by User
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24~Karaton Dec 16, 2006 9:22am
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Playing with Fire –The 10 TCF/year Supply Gap
Playing with Fire –The 10 TCF/year Supply GapFrom: EnegyPulse:
https://www.energypulse.net/centers/article/article_display.cfm?a_id=1388
"In the U.S. and Canada combined, since January 1, 2000, a total of 247,000 new wells have been drilled. This approximately equals the number of new wells that had been drilled in the previous 17 years, and has significantly reduced the number of attractive new prospects that remain to be developed on both sides of the border.
"Despite this massive increase in drilling, however, U.S. production, after peaking at 19.6 Tcf/year in 2001, has declined by 1.3 Tcf per year – a decline of 6.7%. Canadian production has largely drifted sideways for the past 7 years.
"By now, of course, this decline is widely recognized within the industry. Even after expectations have been lowered, however, natural gas production has continued to disappoint."