According to Katharine MacGregor, Principal Deputy Assistant Secretary for U.S. Land and Minerals Management, the shale revolution today “has literally changed the world.”
Regarding shale’s potential, MacGregor referred to the United States’ 2003 geological survey’s estimation that the Marcellus shale play contained 50 million barrels of oil. “In 2011, less than 10 years later, they upped that to three billion,” MacGregor said, addressing delegates at CERAWeek by IHS Markit held recently in Houston, Texas. “I think the potential for shale is nearly limitless, as long as find ways to help those resources make it to market, which is extremely important.”
Chris Carter, Managing Partner for Natural Gas Partners Energy Capital (NGP); Mark Papa, Chairman and Chief Executive Officer for Centennial Resource Development and Daniel Jaeggi, Co-Founder and President of Mercuria Energy Trading SA joined MacGregor on a panel titled “North America Shale: How much can it grow?” Raoul LeBlanc, Vice President of North American Unconventionals for IHS Markit moderated the session.
Read this article in its entirety in the June/July issue of BIC Magazine.
