Updated Portfolio Details Utah, Colorado Oil, Natural Gas Resources
May 28, 2009 // Published as a news service by IHS
The Utah oilfields alone hold more than 250 million barrels of petroleum reserves, according to the National Energy Technology Laboratory (NETL).
Oil plays in the region are defined as geographic areas with favorable source rock, migration paths, reservoir characteristics and other factors.
The portfolio contains maps with geologic settings, outcrop analogs, land-use issues and best-development practices for each oil-producing area within the region.
Historically, the portfolio identified 10 oil plays and 13 subplays, including the Paradox Basis, Uinta Basin, Utah thrust belt and Covenant field, yielding more than 1.3 billion barrels of oil.
The 13.7 million barrels produced in 2002 marked a low point over the past 40 years, but the discovery of the Covenant field in 2005 reversed a steady decline in production.
Ultimately, it is believed that the portfolio will facilitate new oilfield discoveries, increase recoverable oil from existing fields, prevent premature abandonment of small fields, identify new drilling and recovery techniques, increase use of best practices of the oil-producing regions, and a reduce development costs and risks.
The portfolio is available on CD through the NETL CD-DVD ordering system.
Source: National Energy Technology Laboratory (NETL).