Gas Drilling Success

Record gas drilling is boosting reserves additions and allowing more than full reserve replacement in the US Lower 48 and Canada, says Ziff Energy Group in a report released June 1. The report summarizes Ziff’s analysis of 2004 gas reserves replacement by the drillbit and does not include acquisitions or divestments.

The analysis indicates that there was an “overall replacement of 115% of annual production” in the US Lower 48, which had some small positive revisions, and of 108% in Canada
Oil & Gas Journal