MEET MASSIVE NEW SUPER-GIANT OILFIELD IN TEXAS (Sprsberry/Wolfcamp)
Msg 123957 of 123958 at 10/24/2013 10:00:16 AM by
rdesroch from iv bry board
MEET MASSIVE NEW SUPER-GIANT OILFIELD IN TEXAS
(al fin, Thursday, October 24, 2013) Early estimate from Pioneer Natural Resources are than it could contain 50 billion barrels of recoverable oil, which would make it the second largest in the world, behind only the legendary Ghawar in Saudi Arabia
The Spraberry Wolfcamp oilfield is still being mapped out, but so far over 50 billion barrels of oil has been estimated in place. Ultimately, this US oilfield may prove larger than the giant Ghawar field in Saudi Arabia, the largest super-giant in the world till now. With 50 billion boe in recoverable reserves to date, Wolfcamp is bigger than the Bakken in North Dakota and South Texas’s Eagle Ford shale. Sheffield noted that recoverable reserves are based solely on the Wolfcamp A, B, D, and the Jo Mill. “More reserves are yet to be discovered,” he said. Geographically, Wolfcamp is comparable to other plays. A unique feature that puts it ahead of other plays is its variety of geological zones. The play contains 3,500-4,000 ft of shales, which is more like 3-4 million acres when considered in 3D space as opposed to 2D space. “Compare that to the Eagle Ford shale formation, which is about 300 ft deep and the Spraberry Wolfcamp shale, with its 50 billion boe, begins to dwarf the Eagle Ford and the Bakken with 27 billion boe and 13 billion boe, respectively,” Sheffield said. According to Sheffield, PNR’s success in Eagle Ford has provided a smooth transfer into Wolfcamp. “When compared by phases of development, we see the Wolfcamp trending higher than the Eagle Ford based on activity and production,” Sheffield said
Thanks for posting! When you think of the hundreds of $Billions we sent overseas to Valenzuela, the Middle East,Nigeria. Etc EVERY YEAR for crude oil and starting for liquified natural gas the economic impact of that money staying home will be enormous...and any college graduate wanting a good job can move to Texas! Hopefully, we will get a President in 2016 who appreciates what is happening.
Well, bigger than Ghawar might be a stretch but even if its half the size its enormous. Hopefully APL will be able to strengthen its partnership with Pioneer over the next few years and capture a lot of their production.