FOCUS: UNCONVENTIONAL OIL & GAS: EIA-ARI issues update of world assessment of shale oil, shale gas

Countries outside the US and Canada have vast quantities of hydrocarbons yet to be tapped from shale formations, said a June assessment released by the US Energy Information Administration, which commissioned Advanced Resources International Inc. to compile the updated report. An initial EIA-ARI global shale gas assessment was released in 2011, and that report did not estimate shale oil resources. The 2013 update estimated 7,299 tcf of technically recoverable shale gas worldwide, a 10% jump from the 2011 estimate. The 2013 estimate listed 345 billion bbl of technically recoverable shale oil. The updated shale estimate indicated 10% of the world's total estimated technically recoverable oi...

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