Peak Oil? What Peak Oil? Okay, This Is Natural Gas; As Big As The Mighty Marcellus Is, The Utica May Be Bigger -- August 30, 2015

Updates

Later, 11:50 a.m. Central Time: see first comment.

If you wish to get get additional perspective on this stuff, especially the size of the US - specifically the Appalachian Basin - natural gas resources, I would refer you to Wrightstone Energy's recent presentation on the Burket/Geneseo formations which are located above the Marcellus. They are said to contain OVER 30 trillion cubic feet RECOVERABLE! 

The Burket and Geneseo are only two (the largest) of several hydrocarbon formations collectively known as the Upper Devonian.

EQT recently said they were going to shift their development program AWAY from the UD to focus on the much larger, emerging Utica, which is deeper than the Marcellus.

How big is the Utica? Well, Consol just said they may re-priortize their plans and now target the Utica ahead of even the Mighty Marcellus.

You know, when you read this stuff, one gets the feeling that the switch from coal to natural gas in the US is a slam dunk, and even more importantly, when you listen to folks who want to move to intermittent energy (wind, solar), they are so living in the late 20th century when we thought we were running out of fossil fuel. Unfettered, America will have the least expensive energy for decades (centuries?) to come.

Original Post 

Yahoo News has an in-depth story on a huge natural gas find off the coast of Egypt. Because it's such an important story, I will post the story in its entirety:

Italian energy giant Eni says it's found the largest-ever gas field in Mediterranean off Egypt.

LOL.

Fortunately, US News provided a bit more information:

The Italian energy company Eni SpA announced Sunday it has discovered a "supergiant" natural gas field off Egypt, describing it as the "largest-ever" found in the Mediterranean Sea.

Eni said the discovery — made in its Zohr prospect "in the deep waters of Egypt" — could hold a potential 30 trillion cubic feet of gas over an area of 38.6 square miles.

The discovery well is 190 kilometers (about 120 miles) from the Egyptian coast, and is at a depth of 1,450 meters ( 4,757 feet) in the Shorouk Block, the company said.

I honestly don't know what to make of "30 trillion cubic feet." Back on June 30, 2014, I struggled with the same issue. 

So, quick review. How many remember how much natural gas a country must have to be said to have "massive" amounts? The answer, apparently, is 20 trillion cubic meters. At least that's how Turkey's natural gas reserves are described, or more exactly, potential reserves. That's an easy number to remember. 

I said I was confused, but right or wrong, I suggested:

• Turkey might have 20 trillion cubic meters of natural gas reserves, which is considered "massive"
• the US apparently has about 210 trillion cubic meters
• the Brits might have 40 trillion cubic meters
• the Scots have a lot but probably not 1333 trillion cubic meters

As long as I've gone this far, I might as well see what a conversion might do:

• 30 trillion = 5 x 10^12 boe

At another source, 30 trillion cubic feet of natural gas works out to about 5 billion boe crude oil.

I often make simple arithmetic errors. You may assume I have made errors above. If this information is important to you, go to the source.

A township in North Dakota is generally six miles x six miles = 36 square miles.

Oh, that pesky cubic feet vs cubic meters.

Egypt story: 30 trillion cubic feet = 850 billion cubic meters which is way above the 20 trillion cubic meters of natural gas to be considered "massive."

And, then, of course, how much of this is recoverable.

Whatever. It looks like Egypt could be self-sufficient in energy if the country got its act together.