Wed, Jul 30, 2014, 7:26 PM EDT - U.S. Markets closed

Recent

% | $
Click the to save as a favorite.

Linn Energy, LLC (LINE) Message Board

  • sandonthebeach47 sandonthebeach47 Mar 30, 2013 7:51 PM Flag

    Info on the reserves sizes

    There are some favorites.....I like the Williston basin, RLP seems to like the Marcellus.

    There was a few posts about how California is sitting on huge oil reserves with the Monterey shale.

    So, I have been reading over at the USGS and thought some of the data and details would interest everyone....so here are some parts:

    "In-Place Oil Shale Resources Examined by Grade in the Major Basins of the Green River Formation, Colorado, Utah, and Wyoming. [From USGS Feb. 7, 2013]
    Using a geology-based assessment methodology, the U.S. Geological Survey estimated a total of 4.285 trillion barrels of oil in-place in the oil shale of the three principal basins of the Eocene Green River Formation. Using oil shale cutoffs of potentially viable (15 gallons per ton) and high grade (25 gallons per ton), it is estimated that between 353 billion and 1.146 trillion barrels of the in-place resource have a high potential for development.

    Oil shale in the Eocene Green River Formation—including the Piceance Basin of northwestern Colorado, the Uinta Basin of northeastern Utah, and the Greater Green River Basin of southwestern Wyoming—is the world’s largest known deposit of kerogen-rich rocks (Dyni, 2006). The total potential resource within these deposits, regardless of grade, is estimated in the most recent U.S. Geological Survey resourcein- place assessment to be 4.285 trillion barrels of oil (Johnson and others, 2010 a, b; Johnson and others, 2011)."

    Compared to USGS info on Marcellus:

    "The Marcellus Shale contains about 84 trillion cubic feet of undiscovered, technically recoverable natural gas and 3.4 billion barrels of undiscovered, technically recoverable natural gas liquids according to a new assessment by the U. S. Geological Survey (USGS).
    These gas estimates are significantly more than the last USGS assessment of the Marcellus Shale in the Appalachian Basin in 2002, which estimated a mean of about 2 trillion cubic feet of gas (TCF) and 0.01 billion barrels of natural gas liquids."

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Thanks Sand, that sure is a lot of oil and gas.

    • Hmm. Interesting. What does the USGS say about the Williston Basin?

      And I see you left a a small, but meaningful piece of information one the first two. Do you know what it is?

      • 2 Replies to rlp2451
      • From USGS on the Bakken/Three forks/Williston basin updated Recoverable Reserve estimate that is now ongoing:
        "The 2008 Bakken Formation estimate was larger than all other current USGS oil assessments of the lower 48 states and is the largest "continuous" oil accumulation ever assessed by the USGS. A "continuous” or "unconventional" oil accumulation means that the oil resource is dispersed throughout a geologic formation rather than existing as discrete, localized occurrences, such as those in conventional accumulations. Unconventional resources require special technical drilling and recovery methods.

        “The new scientific information presented to us from technical experts clearly warrants a new resource assessment of the Bakken,” said USGS Energy Resources Program Coordinator Brenda Pierce. “The new information is significant enough for the evaluation to begin sooner than it normally would. It is important to look at this resource and its potential contribution to the national energy portfolio.”
        The 2008 USGS assessment showed a 25-fold increase in the amount of technically recoverable oil as compared to the agency's 1995 estimate of 151 million barrels of oil. New geologic models applied to the Bakken Formation, advances in drilling and production technologies, and additional oil discoveries resulted in these substantially larger technically recoverable oil volumes. About 135 million barrels of oil were produced from the Bakken between 1953 and 2008; 36 million barrels in 2008 alone. According to state statistics, oil production from the Bakken in North Dakota has steadily increased from about 28 million barrels in 2008, to 50 million barrels in 2009 to approximately 86 million barrels in 2010...
        Technically recoverable oil resources are those producible using currently available technology and industry practices. USGS is the only provider of publicly available estimates of undiscovered technically recoverable oil and gas resources."

      • More RLP games?

        Are you goint to keep playing guessing games?

        Why not post something helpful for a change when you take a break from trying to understand the real issue in Pa lawsuits or is it just less confusing for you to blame it on funding by the sierra club?

        Now we all know where you are headed with this comment so lets look at it closely and see what you really mean by asking it:

        "What does the USGS say about the Williston Basin?"

        The estimat for the BAKKEN is posted at the USGS and it is also now being re-done and updated. Would you like to know all the numbers all over again?

        We know that you can find the USGS website....so go ahead and post the skewed info that you want to so everyone can see just what you do and we can then go ahead and post the 903 BILLION barrel estimate done by Continental resources that also includes the multiple benches of the three forks, which the USGS recoverable reserve leves out ---it is only Bakken......why was it not included?

        Because the three forks was not being produced from, the benches were not even discovered at the time of the last USGS Bakken reserve estimate......right?

 
LINE
30.83-0.12(-0.39%)Jul 30 4:00 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.