Mature Region, Youthful Potential
The IOGCC's (Interstate Oil and Gas Compact Commission) Appalachian and Illinois Basins Directors' recently released a report entitled, "Mature Region, Youthful Potential: Oil and Natural Gas Resources in the Appalachian and Illinois Basins." (under Links Leaving DEC's Website to the right) The report, developed by IOGCC's Appalachian and Illinois Basin directors and the U.S. Department of Energy's Office of Fossil Energy and National Energy Technology Laboratory, outlines opportunities for development within the region, which has already produced more than 5 billion barrels of oil and 50 trillion cubic feet of natural gas. New technologies and drilling techniques have extended the life of the region, and estimates of remaining recoverable resources are in the range of 4.8 billion barrels of oil and up to 96 trillion cubic feet of natural gas. The report also examines the basins' economic impact, prerequisites for bringing the recovered resources to market as well as steps to encourage resource development and economic growth.