Shale-gas skeptic's supply doubts dra...

Shale-gas skeptic's supply doubts draw wrath of Devon

There are 1 comment on the Edmonton Journal story from Oct 16, 2010, titled Shale-gas skeptic's supply doubts draw wrath of Devon. In it, Edmonton Journal reports that:

Oil geologist Arthur Berman, who worked two decades for Amoco Corp., says company production projections for so-called shale gas in the U.S. are at least double what drill results justify.

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Mount Vernon, WA

#1 Oct 17, 2010
The future potential of shale gas depends on the price of the gas being sold.
As gas becomes more abundant, via horizontal drilling in shale, the price will rise very slowly or may decline.
If that happens the operators( thru lack of activity )may lose their non-productive leases and the millions spent on acquiring those leases becomes an added burden to the profitability of the projects.

I suspect this is why many of the operators are hedging their bets by selling off interest in their large leaseholds.

Pity the buyers who haven't figured this out.

"The wisdom of an old geologist who has 60 years experience in these games".

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