Shale Gas Continues Steady Climb Despite Challenges to E&P in 2011

摘要

Despite a steady downturn in prices and a shift to oil and liquids-rich plays, the development of unconventional shale and other "tight" gas formations triggered a 4% increase in natural gas reserves and a 9% increase in production in 2011, says a recent report from energy consultancy Ernst and Young. Unconventional reserves hit 178.2 trillion cubic feet during the year while production reached 12.9 Tcf. The report also highlighted a 9% increase in oil reserves to 20.3 billion barrels, driven primarily by extensions and discoveries amounting to 2.4 billion barrels - the highest level in five years.