27 Oct '14, 12pm

Future of Fracking Not Nearly as Bright as Forecasted

Future of Fracking Not Nearly as Bright as Forecasted

By 2040, production rates from the Bakken Shale and Eagle Ford Shale will be less than a tenth of that projected by the Energy Department. For the top three shale gas fields—the Marcellus Shale , Eagle Ford and Bakken—production rates from these plays will be about a third of the U.S. Energy Infromation Administration (EIA) forecast. The three year average well decline rates for the seven shale oil basins measured for the report range from an astounding 60 percent to 91 percent. That means over those three years, the amount of oil coming out of the wells decreases by that percentage. This translates to 43 percent to 64 percent of their estimated ultimate recovery dug out during the first three years of the well’s existence. Four of the seven shale gas basins are already in terminal decline in terms of their well productivity: the Haynesville Shale , Fayetteville Shale , Wo...

Full article: http://ecowatch.com/2014/10/27/fracking-forecast-post-car...

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