Tuesday, February 21, 2012

Exxon tempers European shale gas enthusiasm

From Reuters:
U.S. oil group Exxon Mobil sought to cool predictions of a European shale gas revolution, saying commercial production was at least five years away and dismissed forecasts offered by other industry players as "highly speculative".

Kevin Biddle, Exxon's exploration director for Europe, also downplayed the prospects for Poland -- believed by many to have the continent's largest reserves -- leading the shale gas charge, saying on Monday that Germany was more likely to be the first shale gas producer....MORE
...In September, Cuadrilla Resources said it had found 200 trillion cubic feet (tcf) of gas in Northern England -- enough to feed UK needs for many years -- despite only drilling three wells on its acreage....

That does seem a bit optimistic. 
Caudrilla is privately held.