East Coast Drilling, its gonna happen!

[Flyer69]

@"c.captain"

So here’s the big question…how much oil and gas is on the eastern seaboard continental shelf? Does the geology support anywhere near the size of the reserves in the GoM or in the Arctic? There is also the abundant and relatively low cost to produce gas and oil in the Bakken to take into account. It is a lot like the eastern GoM where there is no activity not because of politics but because there isn’t that much there. If there was, there would be a shitload of drilling and production there already. Been to the USGS website to see what they say and they do not even have a regional study available for the east coast offshore. It is all fine and good to think that is the new frontier for energy but is it if the energy isn’t there in quantities to excite the majors…

I don’t know about the US Eastern Seaboard, but I was talking to a guy who was involved in a bunch of the seismic work off Nova Scotia and Newfoundland last summer, and he said there’s all kinds of excitement over what the latest generation seismic arrays are finding up there.