The New York Times in a weekend article sought to discount much of the optimism surrounding shale gas in the United States. Through interviews and e-mail documents, the article says shale gas wells underperform, production is dangerous and the sector is akin to a Ponzi scheme.
Chesapeake Energy in a response said the Times article had an obvious slant against natural gas, noting the report had no reliable sources and was selective in its source material, some of which was at least four years old.
Chesapeake noted the Times article didn't include any material from reputable sources at organizations such as the U.S. Energy Information Administration or the gas committee at the Colorado School of Mines.
The EIA in a separate response said its stance on shale natural gas differs "in significant respects" from the Times article.
The EIA said in its 2011 outlook it projects technically recoverable unproven shale gas reserves sit at 827 trillion cubic feet, 474 tcf larger than the previous year's outlook.
"It is … absurd to conclude that shale gas wells are underperforming while America is awash in natural gas and benefiting from natural gas prices less than half of what they averaged in 2008," added Chesapeake.
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