Abstract

A great deal has been written on the volumes of unconventional gas trapped in the subsurface, this paper examines:

  1. The relationship between the huge GIIP volumes, technically recoverable volumes and economically recoverable volumes

  2. The barriers to achieving economically viable projects

  3. Lifecycle and drivers for creating economically viable projects

  4. The use of decline curves to estimate the productivity and the pitfalls associated with their use

  5. Strategies for mitigation of economic risk in taking an exploration project through to development

New unconventional gas projects all come with considerable uncertainties and therefore risk, but careful de-risking strategies enable companies to steer their way toward clear go/no go decisions at multiple points in the lifecycle enabling them to progress with minimum exposure.

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