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YP PROFESSIONAL EVENTS LUNCHEON
"WHAT IS THE CURRENT POTENTIAL SHALE OIL AND GAS PRODUCTION IN THE US?"
- Assume representative well production profiles (i.e., decline curves)
- Assume drilling effort (number of rigs, and wells drilled per rig per month)
- Sum individual well production per month (100% Chance-of-Success for each well)
- Limit the production by total resource (EUR), area of the resource, or years to drill the resource
- Shale gas can significantly reduce the negative economic impact of imported oil but not in the near term due to slow market growth
- Shale gas may displace some coal and nuclear use but probably will not completely replace coal and nuclear due to long term energy needs of the nation
- Shale oil will help to maintain and to increase US production modestly but its current EUR is probably not large enough to provide oil economic independence, let alone actual oil independence.