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In this edition of The Boardroom, we speak to David Hughes about his recently published special report on the shale revolution in North America - Drill, Baby, Drill!
In his report, David questions the claims of energy independence coming out of the media and oil industry, backed up with in-depth research into 31 US shale plays.
David Hughes is a geoscientist who has studied the energy resources of Canada for nearly four decades, including 32 years with the Geological Survey of Canada as a scientist and research manager. He developed the National Coal Inventory to determine the availability and environmental constraints associated with Canada’s coal resources.
As Team Leader for Unconventional Gas on the Canadian Gas Potential Committee, he coordinated the recent publication of a comprehensive assessment of Canada’s unconventional natural gas potential. He is currently president of a consultancy dedicated to research on energy and sustainability. issues.
In this interview, David touches on:
· The myth of energy independence
· Only 5 shale plays of 31 studies account for 80 per cent of US production
· The short-lived lifespan of sweet spots
· "The drilling frenzy" that comes from 5 year licenses
· High individual well decline rates
· All shale gas plays bar the Marcellus in decline – 6 counties out of 33 produce 85 per cent of the gas
· Is shale oil susceptible to the same production drop offs as shale gas?