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

Plastic particles showing up in Germany's Lake Constance

October 21, 2014 1:16 pm ET

While Fakuma 2014 exhibitors and visitors occupied themselves with topics like molding of micro-sized plastic parts during the show, the presence of...    More

Image

Humanoid robot provides inspection service with a smile

October 17, 2014 6:00 am ET

Everyone knows robots can improve production and quality. But no one says they can't show a little personality while they're working.    More

Image

Hasco gets into augmented reality

October 17, 2014 6:00 am ET

Mold makers may be used to seeing cores and pins on the exhibition stand of a supplier — but not augmented reality that looks like it comes...    More

Image

Corbion Purac collaboration taking bioplastics into even more uses

October 17, 2014 6:00 am ET

Corbion Purac NV's collaboration with Taiwan-headquartered compounder Supla Co. Ltd. and Taiwan electronics producer Kuender & Co. is paying...    More

Image

OnePlastics Group brand created to cover seven different plastics firms

October 17, 2014 9:48 am ET

A Dublin-based company is launching a new brand to unify its plastics businesses into a single entity called OnePlastics Group.    More

Market Reports

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 million dollar 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

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

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

More Events