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To: Owen

I can’t really research this on my phone. Will when I get to a computer.
What is the trend for US gas reserves ? Is it dropping by 1 TcM per year?


26 posted on 08/14/2024 7:52:44 AM PDT by SomeCallMeTim (C)
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To: SomeCallMeTim; buwaya

>>
What is the trend for US gas reserves ? Is it dropping by 1 TcM per year?
>>

Reserves of oil and gas are variable, of course, and not purely from extraction (production). Reserves are an asset for companies that may own that piece of dirt and the SEC has regulations on what can and can’t be declared — which varies by the price of the product and all sorts of other things.

So it’s very weird how that world works. How much is underground varies an NOT by purely what is extracted. And also NOT purely by what is discovered. There may be no new discoveries, not a penny spent on exploratory drilling, and new reserves get declared. Note — and this is important — the whole world doesn’t use SEC rules. Most oil and gas in the world is under public land so there would be no reason for SEC rules on asset declaration to be in play.

As for trends —

US
Declines in the 1980s down 20% by 1994. Largely flat through the early 2000s as some Gulf of Mexico oil flowed (pre-shale gas usually was purely a by product of oil flow because with a low price it was too hard to make a profit on the cost of drilling purely for gas).

So 5.5ish Tcm reserves declining to 4.4 in 1994, holding at that level 1998. Easing up as new oil fields flowed up to 8 Tcm about 2010.

Then shale fracking started about 2012 and with that oil coming up also came gas, and consequent declarations of more reserves to be tapped, up to 12.6 Tcm as noted.

The trend is up via shale, which is showing signs of maxing out right about now.


36 posted on 08/14/2024 8:16:51 AM PDT by Owen
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