Report from the Young Professionals In Energy's Executive Leadership Reception: Gil Goodrich says the market is on the cusp of seeing true shale gas impact in 2011 on US and world markets.

The US is on the verge of a shale gas explosion, but is it a tsunami?

That’s the question posed by Gil Goodrich, vice chairman and chief executive of Goodrich Petroleum Corp., during a speech given on Oct. 26 at an event hosted by Young Professionals In Energy in Houston.

Goodrich says the impact of shale gas has yet to truly effect E&P behavior.

“I don’t think we’ve seen it,” he says. “We’re on the very cusp of seeing it as we get into 2011. It will have a further impact on US and world markets.”

Shale gas looks like it has awaked the supermajors to US potential, says Goodrich, adding that they had basically abandoned US plays for the past 40 years. ExxonMobil Corp. buying up XTO Energy Inc. was just one sign of this shift back toward US reserves.

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