News Column

Blake Zimmerman Opines on Historic Shale Reserve Study

Jun 18 2013 12:00AM

Marketwire

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HOUSTON, TX -- (Marketwired) -- 06/18/13 -- For the first time in history, a thorough assessment has been made of the world's shale reserves, from Russia to Argentina -- and according to U.S. energy expert Blake Zimmerman, the results of the study are both noteworthy and encouraging. The study, as reported by CNBC, finds that global shale reserves are vast enough to accommodate a full decade's worth of oil consumption. Blake Zimmerman has responded to this historic study with a new statement to the press.

"This is an important study because, while it really just provides a rough estimate rather than a precise sum, it provides some quantitative evidence of just how lucrative the shale boom has been," Zimmerman notes, in his press statement. "It is also important to note that this study represents only 'technically recoverable' shale energy -- that is, oil and gas resources that can be tapped into with the use of modern drilling technology, not oil and gas that remain impossible to exploit."

Indeed, CNBC notes that the new U.S. Department of Energy assessment of technically recoverable shale deposits projects "shale oil resources of 345 billion barrels in 42 countries it surveyed, or 10 percent of global crude supplies." Continues the article, "The department had previously only provided an estimate for U.S. shale reserves, which it on Monday increased from 32 billion barrels to 58 billion."

CNBC also notes that the pace of oil and gas production has overwhelmed forecasters in recent years. This is largely due to the advent of horizontal drilling and hydraulic fracturing, also called "fracking." These technologies were pioneered in the U.S. about a decade ago, and have revolutionized the world's energy economy.

"Certainly, new advances in drilling technology have turned the energy industry on its head," remarks Blake Zimmerman. "Energy independence actually seems attainable in the U.S., for the first time in decades."

The U.S. Department of Energy survey reveals that Russia has the largest shale oil resource in the world, with approximately 75 billion barrels. Russia is followed by the U.S., then China, Argentina, and Libya. Also noted in the report: Shale formations have increased the world's natural gas resources by a staggering 47 percent.

The world's shale boom has been spearheaded by the U.S., and to a lesser extent Canada, with nations like the UK still weighing the possibility of ramped-up shale exploration. The question of whether any other nation will be able to replicate the U.S.' success in drilling shale rocks has proven intriguing to geologists and politicians alike.

Blake Zimmerman is a seasoned natural gas professional, whose work in the energy industry includes his ownership of NxtGen Energy, based in the Houston area.

ABOUT:

Blake Zimmerman is a seasoned professional of the natural gas and oil industries, and currently serves as the owner of NxtGen Energy, in Houston, Texas. Largely working with oil and natural gas, Zimmerman and his company provide power and production solutions to E&P Companies at well sites. As a safer alternative to diesel or fossil fuels, this service saves harmful emissions from entering the environment. As a Texas A&M graduate and Gas Processors Association member Blake Zimmerman has proven a well-respected industry professional among his community and colleagues. Continuing to grow NxtGen Energy, he hopes to help America become more environmentally friendly in its energy usage and much more independent of foreign oil and fuel.



Source: Marketwire


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