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Remaining Oil & Natural Gas Resources of New Mexico

Remaining Oil & Natural Gas Resources of New Mexico. Ron Broadhead New Mexico Bureau of Geology & Mineral Resources A division of New Mexico Tech. Key Questions. How much extractable oil and gas is left in New Mexico? How long will production last?. Resource Categories. Natural Gas.

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Remaining Oil & Natural Gas Resources of New Mexico

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  1. Remaining Oil & Natural Gas Resources of New Mexico Ron Broadhead New Mexico Bureau of Geology & Mineral Resources A division of New Mexico Tech

  2. Key Questions • How much extractable oil and gas is left in New Mexico? • How long will production last?

  3. Resource Categories

  4. Natural Gas • Production history • Reserves • Resources • How long?

  5. Natural Gas Resources

  6. How long will this last at present rates of production (1.6 TCF/year)?

  7. Production History, U.S. Gas From Potential Gas Committee (2000)

  8. Reserve Life Index _Proved reserves_ Annual production

  9. Crude Oil • Production history • Reserves • Resources • How long?

  10. Oil Resources

  11. How long will this last at present rates of production (67 MMBO/year)?

  12. Production History, U.S. Oil

  13. First Conclusions • The Reserve Life Indices for oil & gas have remained surprisingly stable over the last 20 to 30 years • Oil and gas resources have been moved from the undiscovered category to the discovered category at a rate approximately equal to production • Undiscovered resources have been underestimated

  14. So how have oil & gas been added to the resource base to keep the Reserve Life Indices from falling through the floor? Some notable examples…

  15. Recovery enhancement Waterflooding/pressure maintenance -Vacuum Grayburg San Andres reservoir From current work on DOE/PUMP project –Digital analysis & portfolio of oil reservoirs in Permian Basin

  16. Redevelopment of old fieldse.g. Dagger Draw

  17. Effect of Dagger Draw on NM Production

  18. Additional resources through new playsBrushy Canyon discoveries From current work on DOE/PUMP project – Digital analysis & portfolio of oil reservoirs in Permian Basin

  19. Additional resources through new unconventional gas

  20. Other Emerging Possibilities • Horizontal drilling in old fields (San Andres, Yeso Fms., SE NM) • Unconventional gas sources (incl. shale gas, low K carbonates) • New basin production (Raton coalbed methane, other areas)

  21. Second ConclusionsWhat will it take to keep the decline in check? • Renewal of old fields through redevelopment, EOR, etc. • Discovery of new plays • New sources of unconventional gas • All of the above have their role

  22. And above all… Drill Drill Drill

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