"Major improvements by natural gas exploration-and-production companies have allowed them to continue to drill profitably in a period of depressed prices, adding to the glut of gas and putting further pressure on prices, an E&P executive said Wednesday at the IHS CERAWeek conference in Houston. "What's happening is that we continue to get better and get more production per rig," Kyle Mork, president of Energy Corporation of America, said in reference to the seeming paradox of growing US natural gas production despite a record low level of rigs."
"Despite the large amounts of shale oil and gas around the world, the United States and Canada are the only two countries that have produced commercial quantities of both. According to the Institute for Energy Research (IER), there is an estimated 7,299 trillion cubic feet of shale gas resources, and 345 billion barrels of shale oil, worldwide. That is compared to the 120 trillion cubic feet of shale gas is consumed each year."