"As recently as 2007, it was thought that natural gas was in tight supply in the United States and that it would soon become a major importer of natural gas. Owing to the pioneering work of Mr. Mitchell and his team, that outlook has been turned upside down."
Former Mitchell Energy & Development Corporation chairman, George P. Mitchell will be honored with the inaugural IHS CERA Lifetime Achievement Award during a ceremony at CERAWeek 2011 in Houston in recognition of his energy vision and his pioneering work over nearly two decades that made North America’s natural gas revolution possible.
IHS CERA chairman and author of the Pulitzer Prize-winning book, The Prize, Daniel Yergin will present Mr. Mitchell with the award during a lunch ceremony Wednesday, March 9 at the Hilton-Americas.
Mr. Mitchell will be honored for innovating the technological breakthrough that made the economical extraction of natural gas from shale rock formations possible. As CEO of Mitchell Energy & Development Corporation, his determined experimentation led to the developments in hydraulic fracturing that unlocked shale gas. This “fraccing”, combined with horizontal drilling, produced the natural gas boom that has transformed North America’s energy landscape, increasing natural gas reserves to a level high enough to supply current consumption levels for more than 100 years.
“George Mitchell’s vision and dedication achieved what was once thought impossible and produced the single most important energy innovation so far this century—unleashing the ‘shale gale’ that has changed the role of natural gas in America and the world,” said Daniel Yergin. “As recently as 2007, it was thought that natural gas was in tight supply in the United States and that it would soon become a major importer of natural gas. Owing to the pioneering work of Mr. Mitchell and his team, that outlook has been turned upside down.”
“It took almost two decades to crack the code,” added Dr. Yergin. The Mitchell team stayed the course in the face of continuing challenges, bolstered by Mr. Mitchell’s conviction that technological innovation and perseverance would find the answer – as indeed it has, and on a scale that could not have been imagined.”
CERAWeek, IHS CERA’s 30th annual executive conference is recognized as a leading forum offering insight into the energy future. Chaired by Pulitzer Prize-winning author of The Prize, Daniel Yergin, CERAWeek 2011 Leading the Way: Energy Strategies for a World of Change, will convene an international group of industry, policy and financial leaders—along with leading researchers from IHS— to explore the implications for strategies and investment in an era of persistent change.
About IHS CERA (www.ihscera.com) IHS CERA is a leading advisor to energy companies, consumers, financial institutions, technology providers and governments. IHS CERA (www.cera.com) delivers strategic knowledge and independent analysis on energy markets, geopolitics, industry trends, and strategy. IHS CERA is based in Cambridge, Mass., and has offices in Bangkok, Beijing, Calgary, Dubai, Johannesburg, Mexico City, Moscow, Mumbai, Oslo, Paris, Rio de Janeiro, San Francisco, Tokyo and Washington, DC.
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