Posted on 08/24/2008 6:46:17 PM PDT by GOPGuide
HOUSTON — American natural gas production is rising at a clip not seen in half a century, pushing down prices of the fuel and reversing conventional wisdom that domestic gas fields were in irreversible decline.
The new drilling boom uses advanced technology to release gas trapped in huge shale beds found throughout North America — gas long believed to be out of reach. Natural gas is the cleanest fossil fuel, releasing less of the emissions that cause global warming than coal or oil.
Rising production of natural gas has significant long-range implications for American consumers and businesses. A sustained increase in gas supplies over the next decade could slow the rise of utility bills, obviate the need to import gas and make energy-intensive industries more competitive.
While the recent production increase is indisputable, not everyone is convinced the additional supplies can last for decades. “The jury is still out how big shale is going to be,” said Robert Ineson, a natural gas analyst at Cambridge Energy Research Associates, a consulting firm.
(Excerpt) Read more at nytimes.com ...
From The Fort Woorth Business Press:
“Carrizo reports 45 percent increase in natural gas production:
Barnett Shale growth continues
BY JOHN-LAURENT TRONCHE
August 04, 2008
Carrizo Oil and Gas Inc. reported second quarter net earnings of $19.4 million, or $0.62 per diluted share, based on an increase in natural gas production in the Barnett Shale.
The Houston-based company also reported average daily production of 6.1 billion cubic feet of natural gas, 45 percent higher compared to second quarter 2007, according to a press release.
“We had an excellent quarter,” said S.P. “Chip” Johnson IV, president and CEO,..........”.
There’s lots of gas awaiting the drilling, lots and lots.
Didn't you hear that it's those ‘mean’ Republicans lying to everyone about drilling and she is going to ‘explain’ to us stupid peons what's best for us.
I want to strangle that woman every time she opens her mouth!
Apparently Pelosi thinks that Natural Gas is NOT a fossil fuel, so we might be ok drilling for Nat Gas.
Nancy is one of those idiots who can manage to make two wrongs equal a right.
Well, it depends. If it bubbles up out of a swamp, it's probably not a fossil fuel, but if you gotta drill for it, it probably IS a fossil fuel.
We know the democrat party will use the marxist government controlled media to try and stop any natural earth based energy source being mined and produced as it allows individual citizens of America to have energy at low prices and to prosper, they will try to block all but man made synthetics that are worse for the enviorment and take more energy to make like ethonals or energy they know can not produce enough power for the populace to have heat.
I abhor the democrat party as they destroy all Constitutional rights we have inherited from our forefathers and natural fuels the Lord God has provided for us.
http://www.hybridcars.com/compressed-natural-gas/overview.html
Only One Choice, For Now
Natural gas is normally used in the U.S. to generate electricity, heat houses and businesses, and as a component in a variety of industrial processes. In the United States, a very small amount of natural gas (just one-tenth of 1% of all gas consumed) is also used as a fuel for vehicles. Traditionally, CNG vehicles have been used in private and government fleets, but some of these vehicles also are owned by private citizens. According to the Natural Gas Vehicle Coalition, there are 130,000 CNG vehicles in use in the United States, although this modest total includes heavy-duty vehicles (such as trucks and buses) as well as automobiles. Other countries, including Argentina and Brazil, boast more than 1 million CNG vehicles apiece.
If you’re thinking of joining the league of CNG drivers in the U.S., your choice of new vehicles is limited this year to one: The Honda Civic GX, a natural gas-powered version of the Civic. Compared with a Civic Hybrid, you’ll pay $2,290 more for the Civic GX, although you’ll be eligible for a $4,000 tax incentive instead of the Civic Hybrid’s current credit of $2,100. In addition, CNG vehicles such as the Civic GX are eligible for most of the same parking and carpool lane privileges as hybrids; in many states, CNG vehicles were using HOV lanes long before hybrids.
Another advantage of CNG vehicles is that, at least currently, the natural gas used to power them is primarily from domestic sources. According to the U.S. Department of Energy, just 20 percent of the natural gas consumed in the United States last year was imported, and most of those imports came from Canada—a country considered a supporter of terrorism far less often than several oil-producing nations that shall remain nameless. Unfortunately, natural gas imports have been rising gradually since the mid-1980s, and as demand for natural gas in the U.S. grows, the amount imported from overseas may have to grow also.
And me and my neighbors are sitting on the Barnett Shale deposit. So far drilling companies have leased mineral rights from homeowners for $25,000 to $30,000 per surface acre and around 25% royalty for the gas being pumped out. In Texas, 95% of all homeowners own their mineral rights and the average size lot is 1/4 acre of in the city. So, thousands upon thousands of residents in North Texas are getting "bonus" checks for $6,000 to $8,000 or so each + royalties for an anticipated 5 to 15 years.
God bless Texas!
"American natural gas production is rising at a clip not seen in half a century, pushing down prices of the fuel . . ."
I wish someone would explain this to Washington Gas. They tell me my bill is going to be 35% higher this winter. It was $600 a month last winter, so I'm not looking forward to this winter.
...when I started watching “Ice Road Truckers” on TV I was surprised at how much gas drilling was going on in the Artic.....AND....I noticed how much money natural gas drilling pumped into the local economy....we could use some of that around my area.
Yes and just to your east around Shreveport the Haynesville Shale deposits are just beginning to be explored and it is speculated that field might be significantly bigger than the Barnett Shale deposits.
Unfortunately, the Civic GX is only sold in California and New York. But if you are in one of the states where it is sold, you can buy and finance the GX along with a necessary accessory:
Phill is a natural gas compressor that installs in your garage. It tops off the tank and shuts off, automatically, using your home's natural gas service.
Now that’s how redistribution of wealth should occur.
Land owners may not get rich but several thousand dollars a year would help the family budget. Cheers.
They are trying to get a bill passed here in Colorado that will stop all drilling and producing for three months every Spring so the PRAIRIE DOGS can breed in peace and quiet !
No lie !
I’m in NW Louisiana,,,Haynesville Shale area,,,
This field may contain near 170 trillion c.f. of gas,(+-).
They ain’t found the south end of it yet (Sabine Parrish?).
One well just south of me (Elm Grove) produces over
11 million c.f. per day (Bossier Parrish)(with 21/64”choke).
Some folks are getting rich,,,
Some folks are getting ripped !
Landmen have showed up at the door of some older folks with
a contract and cash in hand,,,
Lotta crooks out there...
It is present down there (Sabine Parish) but too deep for now. It may one day be commercial.
It is present down there (Sabine Parish) but too deep for now. It may one day be commercial.
~~~
Actually the “pay-dirt”,;0),is only 11,000 to 11,500 ft.
Just above that shale layer they can turn the bit 90 degrees
and bore horizonal for up to 6,000 ft. (12 per well),,,
They hydrofrac these laterals with clean water to
release the gas into the vertical bore,,,
The Cajun Express,deep driller, does this out in the Gulf,
7 miles down,,,
Dangest thing I ever saw !...;0)
At least until the RATS impose "windfall profits" taxes!
I live on the outskirts of town, and we just got natural gas lines recently. Right now I’m still on home heating oil, which has got to change soon because of the cost. I can opt for either natural gas or electric. Any suggestions out there?
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