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N. Alaska May Hold 80T Cubic Feet of Shale Gas

Friday, February 24, 2012

Alaska’s North Slope shales may hold as much as 80 trillion cubic feet of gas, or more than half the highest estimate for the Marcellus formation, and as much as 2 billion barrels of oil, the U.S. Geological Survey said.

President Barack Obama’s administration and the state of Alaska are offering more access to oil and natural gas resources on land and in the Arctic waters to help lower dependence on imported fuel and push more crude through a major oil pipeline crossing the state. Royal Dutch Shell Plc (RDSA) plans to start drilling this year in the Chukchi and Beaufort seas, which are off the coast of the North Slope.

For full article: http://www.bloomberg.com/news/2012-02-24/n-alaska-may-hold-80t-cubic-feet-of-shale-gas.html