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Trends in Energy Conference 2.10.11 Gifford Briggs Louisiana Oil & Gas Association
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There are 250 million cars and trucks that run on petroleum
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America has the greatest energy reserves in the entire world, and it is these resources that ensure our liberty.
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US Active Rotary Rigs Annual Average
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Conventional Play Risk Level High – as much as 50 – 90% 1.Find Zone 2.Reservoir Quality Characteristics 3.Trapping Mechanism 4.Source for Oil and Gas to Migrate into the Trap If just one of these characteristics is missing, you have just drilled a dry hole.
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Non-Conventional “Resource Play” Technology Driven Continuous-type deposit low to no risk Long life reserves Assembly-line operations Non-Conventional “Resource Play” Technology Driven Continuous-type deposit low to no risk Long life reserves Assembly-line operations
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Shale Plays in US
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Percentage of Rigs Drilling Oil vs. Gas 1987 vs. 2010 August 2008 80% Rigs Drilling for Natural Gas
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Rigs Drilling Vertical – Horizontal – Directional 1987 vs. 2010 Vertical 33%
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US Natural Gas Wells since 1988
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Natural Gas Average Annual Prices 2000 - 2011
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Economic Benefits Focus on the Haynesville Shale 2009 Study by LSU Economist Loren Scott Over $10.6 Billion in new business sales in Louisiana Over $5.7 Billion in additional household earnings Represents 3.6% of the personal income in LA. In the 2010 follow-up study it was estimated that the Haynesville Shale discovery had a $17 Billion impact on the state and local economies
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Projected Economic Impact Haynesville Shale 2010 - 14 YearBusiness SalesHousehold Earnings Jobs 2010$17 Billion$4 Billion111,329 2011$12 Billion$3 Billion76,339 2012$11 Billion$3 Billion69,424 2013$11 Billion$3 Billion62,883 2014$11 Billion$3 Billion60,637
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18 Current Haynesville Shale Type Curve *Type curve for wells produced typically on a 24/64” choke 80% Of EUR (Estimated Ultimate Recovery) Produced in 10 Years Initial Production rate = 18 Mmcf/d Initial decline rate = 82% Recoverable reserves 7.5 Bcf
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Source - Credit Suisse Estimates
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It’s Going to be About the Clean Burning Fuel Natural Gas the Transitional Fuel
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Why Natural Gas Clean – Affordable Abundant – American
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Natural Gas Vehicles
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