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Shale gas and tight oil resources

Shale gas and tight oil resources

Shale gas and tight oil resources

Estimates of resources and reserves come with a lot of uncertainty and are subject to regular revisions, both upward and downward. For example, the estimated reserves of recoverable oil in California’s Monterey shale – previously believed to be the largest in the US – have recently been revised downward by 96%.5 Oil and gas companies may be tempted to provide optimistic reserve estimates, as their valuation depends partly on their declared reserves.

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