US SHALE OIL-GAS PRODUCTION POTENTIAL—2: Shales can greatly cut oil imports if US gas markets are developed

Richard S. Bishop Rick A. Baggot Wayne L. Kelley Robert E. Fargo RSK (UK) Ltd. Houston This is the second of three parts on the potential of domestic unconventional shale oil and gas production to displace oil imports to the US. Choice of inputs Growing the US gas market depends on factors such as license terms and amortization periods. For example, the amortization of most power plants is 30 years or more. In short, for there to be a market for additional gas production, new gas consuming and transporting infrastructure must be constructed and there must be enough gas for the long payback period. Taking this into consideration in choosing the size of a rig fleet, we focused on one that w...

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