We present and discuss new shallow water equations that provide an est
imate of the long-time asymptotic effects of slowly varying bottom top
ography and weak hydrostatic imbalance on the vertically averaged hori
zontal velocity of an incompressible fluid with a free surface which i
s moving under the force of gravity. We consider the regime where the
Froude number is much smaller than the aspect ratio delta of the shall
ow domain. The new equations are obtained at first order in an asympto
tic expansion of the solutions of the Euler equations for a shallow fl
uid by using the small parameter delta(2). The leading order equations
in this expansion enforce hydrostatic balance while those obtained at
first order retain certain nonhydrostatic effects, Both sets of equat
ions conserve energy and circulation, convect potential vorticity and
have a Hamiltonian formulation. The corresponding energy and enstrophy
are quadratic integrals with which we can bound the cumulative influe
nce of the nonhydrostatic effects.