England's shale gas reserves lower than earlier estimated

PRW

Published: July 9, 2014 9:28 am ET
Updated: July 9, 2014 9:30 am ET

Related to this story

Topics Europe

Downgraded estimates for shale oil and gas in the Weald Basin in south-east England have been released by the British Geological Society (BGS). Its findings suggest that there is no significant shale gas reserve in the area although it could contain could contain between 2.2-8.6 billion barrels of shale oil.

“Overall, the rocks in the Weald Basin haven’t had the right history to produce gas,” said Ed Hough, Geologist at the BGS. And extracting what little might be there would be uneconomic.

Another BGS study covering the Midland Valley region in Scotland likewise notes the potential oil and gas recovery potential as “modest,” but said further studies are needed.

The figure for oil in the Weald basin represents the total amount of oil present in the rocks, explained the BGS, but it is not known what percentage of the oil present in the shale could be commercially extracted.

Also, in order to fully estimate the shale oil reserve, drilling and testing of new wells will be required to give a better idea of oil production rates. In addition, non-geological factors such as oil price, operating costs and the scale of development agreed by the local planning system will affect the amount of oil produced.


Comments

England's shale gas reserves lower than earlier estimated

PRW

Published: July 9, 2014 9:28 am ET
Updated: July 9, 2014 9:30 am ET

Post Your Comments


Back to story


More stories

Image

Huhtamäki selling film division

November 26, 2014 2:10 pm ET

Private equity firm Deutsche Beteiligungs AG (DBAG) will acquire the film business of Finland-based plastics packaging group Huhtamäki Oyj for 141...    More

Image

Pan-European plastics recycling show scheduled for 2015

November 26, 2014 6:00 am ET

Europe is to get its first pan-European exhibition and conference aimed at the region's plastics recycling industry next year.    More

Image

Irish packaging group Smurfit Kappa opens film plant in Spain

November 26, 2014 6:00 am ET

Global packaging group Smurfit Kappa Group plc has responded to growing demand for its bag-in-box liquid container/dispensers by opening a new plant...    More

German plastics firms weigh options for Brazil

November 25, 2014 6:00 am ET

Brazil, the largest market in South America, has been a lure for foreign investors for many years, and in the past decade, it has enjoyed good...    More

Image

Onex buying packaging group SIG Combibloc

November 24, 2014 9:05 am ET

ex Corp. will buy SIG Combibloc Group, the Switzerland-based manufacturer of aseptic carton packaging and plastics closures from New Zealand's Rank Gr...    More

Market Reports

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events