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Posted Tue Jan 24 2012: from Charleston Gazette:
DOE slashes gas estimate for Marcellus Shale
Federal government analysts on Monday slashed their estimate of the natural gas reserves in the Marcellus Shale formation, and at least one major producer announced plans to cut in half its expenditures on new gas leases in the wake of dropping prices. The U.S. Department of Energy cut its estimate of the Marcellus reserves from 410 trillion cubic feet of natural gas to 141 trillion cubic feet, citing better production information that emerges as drilling operations in the region mature and the exclusion of data from the pre-shale area.
[Read more stories about: climate impacts, fracking]

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