From: SNL
North America could see a "prodigious amount"
of unconventional oil and gas production consuming trillions of dollars
in funding over the next two decades, the Deloitte Center for Energy
Solutions said in a new report.
In the
report, "The challenge of renaissance: Managing an unprecedented wave of
oil and gas investment," Deloitte said fully unlocking the
unconventional oil and gas potential in the United States and Canada
will call for "a vast and sustained amount of investment" if production
totals are to meet analysts' expectations.
"The
[U.S. Energy Information Administration] estimates nearly $5 trillion
in upstream oil and gas investment is needed in North America through
2035 to maintain current levels of output and meet future demand
growth," the report's authors said. "This investment translates into a
prodigious amount of onshore well activity and oil sands development."
Using
EIA estimates, Deloitte said approximately 630,000 new wells will need
to be drilled to produce the technically recoverable reserves available
in U.S. shale gas and tight oil fields. Approximately 410,700 of those
wells would be in shale gas plays, with more than 90,000 potential wells
in the Marcellus Shale and 21,000 in the Eagle Ford Shale. MORE
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