[Frank]

Perusing BP's latest report on world energy I notice that natural gas R/P for the US is something like 12 years. Why is everyone so gung-ho on natural gas? Fracking has increased a lot over the past several years and R/P is still only twelve? What am I missing?

[aahala2]

We're producing much more and at much lower prices. That's the
excitement. The R/P is about the same because these two aspects
are closely related to price. Lower prices increase consumption(production)
and reduce reserves( because reserves are based upon present economic
conditions). The ratio is largely maintained whatever the price or on
production levels.

[Frank]

Doesn't 12:1 sound a little on the dire side? What are the ultimately recoverable reserves I wonder? I understand that new reserves are being booked every day but not sure that would give me a lot of confidence as an investor...