The Oil Drum

242 comments on DrumBeat: March 18, 2008

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elwoodelmore on March 18, 2008 - 12:39pm

well, at least the nyt reports their wildly speculative 200 gb figure as oil in place. kipplenger's wildly speculative 100 gb is implied as recoverable.
they must be a shill for cera, note they are saying that the usgs final report, when it is published, will be "conservative". i have read that before in ceraspeak.

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rainsong on March 18, 2008 - 2:11pm

Wiki has an article about the Bakken:

http://en.wikipedia.org/wiki/Bakken_Formation

I had read that Bakken was 400 billion barrels of oil in place. One might expect to recover 10-20% of that. Of course the play is in its early stages and as time goes on a clearer picture might develop.

The Barnett Shale in the Ft. Worth area is the largest remaining natural gas field in Texas. Devon is the largest acreage holder in the play and gave a resource estimate of 13 tcf in its portion. Devon expected peak production from its holdings there in 2009 at about 1 bcf/day. The United States used about 22 tcf per year. The horizontal wells cost millions of dollars a piece. The United States used about 22% of the world's natural gas per year. Check the Devon website for investor presentation (pdf) about their work there.