Future petroleum potential of Mid-Continent

Conference · Sat Aug 01 04:00:00 EDT 1987 · AAPG (Am. Assoc. Pet. Geol.) Bull.; (United States)

OSTI ID:5753013

Shotwell, J D

Throughout the history of the Mid-Continent, numerous estimates have been made of the amounts of oil and natural gas discovered, produced, and yet to be discovered. As of 1981, the Mid-Continent has produced 127.8 tcf of gas and 18.2 billion bbl of oil, while retaining 32 tcf of gas and 1.5 billion bbl of oil in measured reserves. The 1981 US Geological Survey's estimate of reserves yet to be discovered in the Mid-Continent is 44.5 tcf of gas and 4.4 billion bbl of oil. Since these estimates were made, approximately 25% of those reserves have been found. Production has increased over the last several years, but has been at a rate higher than reserve replacement, owing to the drop in footage drilled and in reserves found per foot drilled. The Mid-Continent is a mature petroleum province whose future years will see an overwhelming emphasis on small field exploration and large field exploitation. In the past 5 years, extensions of old reservoirs and the discovery of new reservoirs in old fields have provided 88% of the newly discovered reserves. As the prices of oil and gas rebound from their 1986 levels, they should see a gradual increase in drilling, both in terms of total footage and in total number of wells drilled. They should also expect fewer exploratory wells and the reserve replacement ratio to remain low. Exploration of new frontiers in the Mid-Continent will be extremely slow in the foreseeable future.

• Research Organization: Enron Oil and Gas Co., Midland, TX
• OSTI ID: 5753013
• Report Number(s): CONF-870916-
• Conference Information: Journal Name: AAPG (Am. Assoc. Pet. Geol.) Bull.; (United States) Journal Volume: 71:8
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020200* -- Petroleum-- Reserves
Geology
& Exploration
03 NATURAL GAS
030200 -- Natural Gas-- Reserves
Geology
& Exploration
DRILLING
EXPLORATION
FEDERAL REGION VII
GEOLOGIC DEPOSITS
MINERAL RESOURCES
NATURAL GAS DEPOSITS
NORTH AMERICA
PETROLEUM DEPOSITS
RESOURCES
USA
WELL DRILLING