Significance of Shale Gas Development

Natural gas production from shale formations is growing exponentially in the United States. This paper introduces the five major shale formations in the United States and the technologies used to produce them. The Barnett, Haynesville,Fayetteville, Woodford, and Marcellus combined hold an estimated 978 trillion cubic feet of total gas reserves. These findings along with recent technological advances in horizontal drilling and completion methods have transformed the natural gas exploration and production industry in the U.S. and have fundamentally changed the U.S. energy picture. Specifically this paper states that the United States through the utilization of natural gas from shale can reduce its carbon emissions and can become more energy self-sufficient. Finally, the Harding & Shelton Group states in this paper that the opportunity to locate and produce shale gas in China is very similar to that which has taken place in the United States.