A new assessment by the U.S. Geological Survey indicates that Colorado has far more natural gas than was initially assumed. This is an incredibly important find in a world in which natural gas is becoming increasingly more valuable and often used. Natural gas is replacing coal across much of the world and may be instrumental in not only securing an energy future but also reducing carbon emissions.
The Second Biggest Field of Recoverable Natural Gas
Domestically, it appears that Colorado may now hold the second largest field of recoverable natural gas. The assessment tested the Mancos Shale formation, finding approximately 66 trillion cubic feet of natural gas. In prior years, this natural gas likely could not have been recovered at all. The 66 trillion cubic feet discovered is measured by what can be recovered through current processes, which includes hydraulic fracturing. Fracking has been a vital driving force behind the recent recovery and adoption of record-breaking amounts of natural gas. With technology and techniques improving all the time, Colorado may ultimately become an even better resource.
Prior Readings Much Lower
Back in 2003, readings of the area indicated that there were only approximately about it 1.6 trillion cubic feet of natural gas. In addition to this, the oil reserves were believed to be 74 million and the liquid natural gas was 45 million. But readings don’t just rely upon the data captured, they also rely upon the current technology. In 2003, hydraulic fracturing was not as commonplace or as well-developed, and thus much of the oil and gas within the basin may not have been accessible. The oil and gas sector has been innovating and improving steadily over the last decade, which has led to a sharp increase in recoverable oil even in areas in which nothing else has significantly changed.
Export Will Become Important
Though the United States may have a significant amount of natural gas, there’s still an infrastructure problem at hand. In order to be able to utilize this natural gas very effectively, the United States is having to develop pipelines across North America. Colorado will need to be able to export its natural gas if it is to be of the best possible use to the country. Pipelines remain both the easiest and safest way to transfer natural gas.
The United States currently consumes nearly 30 trillion cubic feet of gas per year. Without domestic resources, the United States can easily become beholden to foreign powers for natural energy. Natural gas has led to a stronger economy through lowered energy prices. The Mancos Shale could easily be used to provide the United States with energy for more than two years alone. Natural gas continues to grow and many new companies are entering into the industry. One thing that every natural gas and oil company needs is containment. Keystone Containment offers complete containment and maintenance services, designed to keep work sites safer and costs down.