Blockbuster new Shale Gas/Oil study by David Hughes

This new study of shale-gas by J. David Hughes, Fellow with the Post Carbon Institute,
is jam packed with important information.

Here's one tidbit:

FIELD DECLINE RATES:

The field decline rates (as well as the decline rates for individual wells)
is extremely steep for shale-gas and shale-oil.

In the Bakken formation,
they have to drill hundreds of new wells per year,
just to keep production flat.

In the Bakken (shale oil), they have to drill ~1,500 wells per year to keep production flat:
http://www.postcarbon.org/article/1816957-whither-shale-oil-interview-with-david-hughes 

BUT IT'S WORSE!


It's even worse since they always drill the "sweet spot" first (highest yield), so newer wells don't perform as good. So they must ACCELERATE drilling the field just to keep production flat!

Highly recommend you check this one out:

• Audio Podcast 1:  http://mp3.e-bim.com/mp3/oilandgas/DrillbabydrillRV.mp3
• Audio Podcast 2: http://podcast.cbc.ca/mp3/podcasts/shiftnb_20130221_78595.mp3
• The Paper: http://www.postcarbon.org/reports/DBD-report-FINAL.pdf
• Chip Northrup commentary: http://blog.shaleshockmedia.org/2013/07/30/shale-bridge-collapse/

Here's another explosive David Hughes presentation from last year-- still jam packed with important data: