IGas announces significant rise in gas-in-place at UK shale basin

The UK-focused energy company, IGas, has announced a rise of gas-in-place at its Bowland Shale acreage from approximately 9 trillion ft³ up to a potential maximum of 172.3 trillion ft³.

A new geological model of the company’s acreage used 330 km² of reprocessed seismic lines, subsurface data (including cores and logs) from approximately 20 offset wells and geological data from a well at Ince Marshes. This data was analysed to give estimates of the reservoir characteristics of the shale formation and the thickness of the shale.

Based on the new model, the estimates for gas initially in place have been estimated by IGas to be as follows:

• Low: 15.1 trillion ft³.
• Most likely: 102 trillion ft³.
• High: 172.3 trillion ft³.

The company’s CEO, Andrew Austin said that, “The announcement of the gas in place volumes of up to ca. 170 trillion ft³ in our North West acreage follows the completion of a very thorough study by the IGas Technical team and supports our view that these licences have a very significant Shale Gas resource with the potential to transform the company and materially benefit the communities in which we operate.

The planned drilling programme, commencing later this year, will further refine these estimates and advance our understanding of this shale basin. We will in due course carry out further analysis and reinterpretation of existing seismic and subsurface data to evaluate the potentially prospective Shale resources in the East Midlands and Weald Basin licence areas.”

Benefits for the UK

According to sources, the UK’s annual gas consumption is approximately 3 trillion ft³, so even if only the lowest of IGas’ estimates was accurate, it alone could supply the UK’s entire demand for 5 years.

Austin also stated that the shale industry could potentially directly support around 25 000 – 40 000 jobs over the next two decades.

Cuadrilla, another company focused on the UK shale industry has revealed that it’s own acreage in the Bowland Shale could contain as much as 200 trillion ft³, suggesting that the region as a whole could contain up to 400 - 500 trillion ft³.

Even if only a small percentage of this figure could actually be extracted, it would allow the UK to be gas self-sufficient for years.

Edited from various sources by David Bizley

Read the article online at: https://www.worldpipelines.com/business-news/03062013/igas_announces_significant_rise_in_gas_in_place_at_uk_shale_basin/