The U.S. Geological Survey (USGS) released a bombshell of a report yesterday. Two reports, actually. USGS periodically updates its estimates of how much oil and natural gas is still not accessed but is “technically recoverable” in various shale plays. The last time USGS evaluated the Marcellus and Utica plays was in 2011, when the two plays combined had 122 trillion cubic feet (Tcf) of recoverable gas. In yesterday’s report, USGS says that number has almost doubled, to 214 Tcf. But the biggest surprise is that the Utica has MORE recoverable gas than the Marcellus!
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