Home › Forums › Refining Community › Refinery News › 500 Billion BBL – Sweet Crude Find Montana & Wyoming Williston /Bakken Basin › RE: 500 Billion BBL – Sweet Crude Find Montana & Wyoming Williston /Bakken Basin
GLC folks sent me info that came from the OGJ which has quoted an article by USGS that estimates field having only 3 – 4.3 billion BBL of undiscovered, technically recoverable oil.( Here is their link for that article http://www.usgs.gov/newsroom/article.asp?ID=1911 ). Both views may be correct….. since the USGS volume falls into min range of 10% recovery that news article from investment company quotes.
Here would be my take on this:
The USGS 5 Billion BBL number is in the 10% range article refers to based on “today’s” technology as I mentioned.
Like the large Bitumen reserves in both California & Texas of 450 Billion Bbls each – there is much higher recovery rate using today’s newer technology like EOR from CO2 flooding or other techniques learned from area’s like Canada SAGD process. These are hung up waiting outcome of Carbon Tax cost, permiting of ongoing work on CO2 & H2 pipelines & projects and way overcome Environmental blocks on higher CO2 generation level as byproduct additional energy use required for reserve recovery using newer technology.
As usual Government (USGS) is being ultra-conserative & looking backward at previous/current technology, and the media is depreciating the potential to follow a storyline that really assist Liberal factions / Envrionemental groups trying block development in their favorite wild areas. It Keeps find from being funded & assits in a case for blocking permits / development. Typical Pusedo science used to frame the story they need or want to tell rather than full disclosure.
Both sides are keeping lot details confidential at this stage to minimize counter arguments by other side.
But thanks to the link and details you can see both sides – it does follow almost the same script that has kept our own non-conventional Bitumen heavy crude reserves in Calif & Texas from making much headway despite high prices & favorable permit atmosphere. Really wait for new President & congress leaders to see what course CO2 / Carbon legislation is going to take in current per-recession, critical energy shortage set against backdrop of damaged food industry from failed government & pro-environmental quick fixes.