- Joined
- Mar 24, 2009
- Messages
- 16,743
EnCana Corp. on Thursday said the Horn River shale could be one of the most important gas finds in North America, building on earlier optimism that the remote unconventional natural gas deposit has the potential to dramatically alter the continental supply picture.
Although initial results from a pilot program have been "encouraging," CEO Randy Eresman said it is still too early to commit to full-scale commercial development. Nonetheless, he said Horn River has enough gas to become "one of the most important plays in our company."
Horn River resource estimates vary, ranging from 100 trillion to more than 600 trillion cubic feet. The amount of gas in unconventional plays in Canada and the U. S. will prompt EnCana to encourage policy-makers to promote large-scale use of cleaner burning natural gas for electrical power generation and for use as a transportation fuel in cars and trucks, Eresman said.
"The emergence of shale gas changed the landscape for North American natural gas," he told a conference call to discuss the company`s lower second-quarter financial results. " There is an opportunity to expand the market for natural gas to displace significant quantities of coal and crude oil."
Prolific unconventional discoveries are being blamed for creating a gas bubble that has pushed prices to multi-year lows. American production surged to postwar highs last year even as demand dwindled in the face of the recession, resulting in record storage inventories.
Read the full article here.
Although initial results from a pilot program have been "encouraging," CEO Randy Eresman said it is still too early to commit to full-scale commercial development. Nonetheless, he said Horn River has enough gas to become "one of the most important plays in our company."
Horn River resource estimates vary, ranging from 100 trillion to more than 600 trillion cubic feet. The amount of gas in unconventional plays in Canada and the U. S. will prompt EnCana to encourage policy-makers to promote large-scale use of cleaner burning natural gas for electrical power generation and for use as a transportation fuel in cars and trucks, Eresman said.
"The emergence of shale gas changed the landscape for North American natural gas," he told a conference call to discuss the company`s lower second-quarter financial results. " There is an opportunity to expand the market for natural gas to displace significant quantities of coal and crude oil."
Prolific unconventional discoveries are being blamed for creating a gas bubble that has pushed prices to multi-year lows. American production surged to postwar highs last year even as demand dwindled in the face of the recession, resulting in record storage inventories.
Read the full article here.