Future U.S. Energy Demand  The U.S. will consume 28 percent more oil and 19 percent more natural gas in 2030 than in 2005. Source: US DOE Quadrillion.

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Presentation transcript:

Future U.S. Energy Demand  The U.S. will consume 28 percent more oil and 19 percent more natural gas in 2030 than in Source: US DOE Quadrillion Btu

Future Global Energy Demand  Global energy demand will increase by more than 50 percent between now and Source: IEA

Technology – 3D and 4D Seismic Imaging

Precision Drilling – A Dramatically Smaller Footprint Present 80 sq. miles 2 acres Drill site size 10,000’ sq. miles 12 acres sq. miles 16 acres acres.8 sq. miles Subsurface drillable area

Oil & Gas Companies $98 billion (73%) Other Private Federal Government Frontier Hydrocarbons End Use Non Hydrocarbons $32 billion (23%) $89 billion (66%) $31 billion (23%) $15 billion (11%) $5 billion (4%) By Technology By Investor $135 Billion Technology – Our Industry’s Investments Source: IER/CEE

Forecast of U.S. Energy Growth Nuclear Renewables Coal 26% Oil 40% 7% Gas 21% 7% Oil Nuclear Coal Renewables Gas 23% 8% 40% 6% 23% (100 quads) (131 quads) 2005 Actual 2030 Outlook 31% Growth (1.1%/yr.) Source: US DOE

U.S. Crude Oil Resources (undiscovered technically recoverable federal resources) Atlantic offshore 3.8 Bbl Lower 48, onshore 7 Bbl Gulf offshore/deepwater 44.9 Bbl Alaska onshore 18 Bbl Alaska offshore 26.6 Bbl Pacific offshore 10.5 Bbl Lower 48, onshore 7 Bbl Atlantic offshore 3.8 Bbl 112 billion barrels is enough oil to power over 60 million cars for 60 years AND heat over 25 million homes for 60 years.

U.S. Natural Gas Resources (undiscovered technically recoverable federal resources) Atlantic offshore 37 Tcf Gulf offshore Tcf Alaska onshore 69 Tcf Alaska offshore 132 Tcf Pacific offshore 18.3 Tcf Lower 48, onshore 167 Tcf 656 trillion cubic feet is enough natural gas to heat 60 million homes for 60 years.

Diversity – Participating In Global Energy Markets

The Myth of “Big Oil”  The total amount of proven oil reserves held by all investor- owned oil companies (IOCs) is just 6 percent.  Almost 80 percent is exclusively controlled by foreign national oil companies (NOCs). J. Robinson West Chairman, PFC Energy: 9/21/05