The United States is Fueled for Industrial Growth
During the 1950's and 1960's, United States oil and gas production volumes rapidly expanded to meet the demand of industry and a growing population. This chart shows the combined production of both oil and natural gas over the last 7 decades.
Production peaked and began to decline in the early 1970's, which slowed United States industrial growth. However, with the development of Shale resources over the last decade, the production decline has dramatically reversed. Production of oil and natural gas have set new records with the rates of increase similar to that of the 1950's and 1960's when the United States experienced rapid prosperity and growth.
The Ohio Valley Region is Fueling Growth in Natural Gas
Shale development has set record United States natural gas production volumes. Natural gas production growth has been driven by the expansion of gas supplies in the Northeast states of Ohio, West Virginia and Pennsylvania from horizontal drilling. These states are areas where rapid development of the Utica and Marcellus Shales have accounted for nearly all of the recent growth in United States natural gas production. In a few years, 35% of the total United States production is projected to come from these states.
Graph Source: bentekenergy.com
Utica and Marcellus Shales Will Fuel Future Growth
The link below provides a summary of the Energy Information Administration reserve assessment for the Marcellus Shales. The most recent reserve assessments for the Utica Shale is contained in the Utica Shale Play Book Study by the Appalachian Oil and Natural Gas Research Consortium.