USGS Says Vast Reserves Likely Beneath Ohio, Pennsylvania

USGS Says Vast Reserves Likely Beneath Ohio, Pennsylvania


The United States Geological Survey (USGS) says there are vast energy reserves locked in a huge rock formation that runs under Ohio and Pennsylvania.

In its first estimate of the fossil fuel reserves locked in the Utica Shale, the USGS calculated that the formation holds about 38 trillion cubic feet of undiscovered, recoverable natural gas, 940 million barrels of oil, and 9 million barrels of natural gas liquids like ethane and propane. The Utica formation lies below the Marcellus shale gas formation, which is considered one of the richest known natural gas reserves in the world.

Oil and gas companies have already started exploring for the Utica Shale’s resources. Pennsylvania and Ohio have issued 452 Utica well permits to date and 178 wells have been drilled, according to recent state data.
 


Posted on Tuesday, October 09, 2012 (Archive on Monday, January 01, 0001)
Posted by NStaff  Contributed by
Return