Today's Wall Street Journal:
U.S. Gas Fields Go From Bust to Boom
By BEN CASSELMAN
CADDO PARISH, La. -- A massive natural-gas discovery here in northern
Louisiana heralds a big shift in the nation's energy landscape. After
an era of declining production, the U.S. is now swimming in natural gas.
Even conservative estimates suggest the Louisiana discovery -- known
as the Haynesville Shale, for the dense rock formation that contains
the gas -- could hold some 200 trillion cubic feet of natural gas.
That's the equivalent of 33 billion barrels of oil, or 18 years' worth
of current U.S. oil production. Some industry executives think the
field could be several times that size.
"There's no dry hole here," says Joan Dunlap, vice president of
Petrohawk Energy Corp., standing beside a drilling rig near a former
Shreveport amusement park.
Huge new fields also have been found in Texas, Arkansas and
Pennsylvania. One industry-backed study estimates the U.S. has more
than 2,200 trillion cubic feet of gas waiting to be pumped, enough to
satisfy nearly 100 years of current U.S. natural-gas demand.
<snip>
Gene Coyle
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