Potential gas panel sees 65-year supply for US

The US natural gas resource base, including proved reserves, was 1,311 tcf at the end of 2002, and if all of it is developed, it would equal 65 years of supply at current production levels, the Potential Gas Committee (PGC) said Wednesday in its biennial report.

April 16, 2003

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By OGJ editors
HOUSTON, Apr. 16 -- The US natural gas resource base, including proved reserves, was 1,311 tcf at the end of 2002, and if all of it is developed, it would equal 65 years of supply at current production levels, the Potential Gas Committee (PGC) said Wednesday in its biennial report.

Excluding proved reserves, the study estimated 958 tcf in traditional resources and 169 tcf in coalbed methane resources. Compared with the 2000 report, traditional resources increased 2.4% and the CBM resources increased 8.8%.

Potential Gas Agency Director John B. Curtis said "Estimates of the Potential Gas Committee are base-line estimates in that they attempt to provide a reasonable appraisal of the total natural gas resource potential of the United States."

Estimates do not assume any schedule for the discovery or production of gas, he added.

The study used the Department of Energy's estimate of 183 tcf of proved reserves in the US. Probable resources (current fields) had 210.5 tcf, possible resources (new fields) 325 tcf, and speculative resources (frontier) 422 tcf.

Probable CBM resources were 17.1 tcf, possible 56.7 tcf, and speculative 95 tcf.

The PGC consists of 140 volunteers from industry, government, and academic institutions. It received assistance from the Colorado School of Mines, Golden, Colo. The agency is funded by the American Gas Association, the Gas Technology Institute, and various industry, government, and individual contributors.