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Author Topic: Future Looks Bright for Cline Shale Potential Back to Topics
mastermariner

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Message Posted: Jun 27, 2013 9:04:28 AM

Found at a depth of about 9,000 feet and covering an area of approximately 1.6 million acres, the Cline production looks promising, though the 80 to 100 horizontal wells drilled to date are too few to draw any definite conclusions, said Alan M. Herbst, who heads New York-based energy and financial firm advisor Utilis Advisory Group LLC, in an interview with Rigzone.

"The information coming out on the Cline shale indicates up to 30 billion barrels of recoverable oil, which is substantially larger than other large plays," said Dr. M Ray Perryman, head of the Texas-based economic and financial analysis firm The Perryman Group.

The latest estimates seen for the Bakken top out at 11 (though they were recently doubled and could go higher). Eagle Ford top-end figures for recoverable oil are
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drpepperTX
Champion Author Texas

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Message Posted: Jun 28, 2013 11:22:50 AM

Teenitup, these are things that not only Obammamama doesn't want the folks to know, it's things the entire Eco-imperialist left doesn't want you to know.

Truth and honesty are not high on their list of character traits!
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Bearcat500
Champion Author Cincinnati

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Message Posted: Jun 27, 2013 11:56:27 PM

OK
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teenitup
Champion Author Houston

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Message Posted: Jun 27, 2013 6:46:43 PM

Things Obammy doesn't want you to know!
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mastermariner
Champion Author Texas

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Message Posted: Jun 27, 2013 3:41:51 PM

As technology improves reserves will gain
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drpepperTX
Champion Author Texas

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Message Posted: Jun 27, 2013 2:57:56 PM

This is more than just sounding good, it is a great example of how technology continues to uncover more and more recoverable oil.

Just take a quick look at US figures since 1944. In 1944 our proven oil reserves were 20 billion barrels, and since then we have produced over 175 billion barrels. This leads you to ask what our our proven reserves today? The answer, 20.7 barrels of proven reserves still remain.

This leads us to the next question, how much technically recoverable oil resources do we have? (Technically recoverable oil is oil we can access using today’s technology.) Well two studies, by the RAND Corporation and the USGS put the technically recoverable oil total at 1,444,180,000 barrels. And this keeps growing, recent examples are Canada’s oil sands, the Eagle Ford, the Bakken Field and now the Cline formation.

These increases not only do not level out as the record since 1944 shows, but continue to rise as technology continues to expand.

Is oil infinite? Of course not, but with almost 1.5 TRILLION barrels of technically recoverable oil (218 years supply) and the infrastructure already in place and economically feasible, we have plenty of time to let the markets develop alternative energies.

218 years is a decent amount of time IMHO. And remember, this is just US oil.
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wrunner
Champion Author Virginia

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Message Posted: Jun 27, 2013 12:38:56 PM

The future so bright, gotta wear shades.

Let the oil flow and let the good times roll.

Rock and roll, baby!
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orphancarguyPE
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Message Posted: Jun 27, 2013 11:39:23 AM

Sounds good, but two caveats:

1) West Texas--where is all the water required for fracking going to come from, as a million plus gallons PER well?
2) The US uses 18-19 million barrels of oil per day. It helps to do the math on this. 35-40% of all oil is still imported. Tight oil supplies less than 10% of all oil used. The over 90% of oil, domestic and imported, is still conventional, which is slowly and steadily declining everywhere: USA, Canada, Mexico, Russia, Saudi Arabia, Nigeria--everywhere.

Now to do the math. The goal for the USA is to replace imported oil first, and save the $Billions that flow out on a one-way trip, day by day by year by year.

Okay, after more than 10 years, Bakken production = 700,000+ barrels per day, and Eagle Ford 600,000+ barrels per day after 5 years. The increases will tend to level out as the brick wall of railway/pipeline (and water) capacity is hit (Jan 2016 estimate for Bakken is about 900,000 per day, so a strong leveling off is forecast.) People are confusing percentage increase with plausible growth limits. Bakken will be at infrastructure limit first, while Texas is likely to hit water limitations first.

So, realistic projections taking these limitations into account forecast that the growth in the increase of tight oil levels out, and 2030 would be a more likely date for the US to even replace imported oil. That presupposes that conventional oil both domestic and imported manages to continue at the current level for another two decades...and that is entirely unlikely.

Look at it another way. If you imagine a future similar to what the world is like now for energy use and sources, then somewhere in the future 18 million barrels per day will ALL have to come from domestic tight oil, because domestic and imported conventional oil will cease. Even various middle east exporters are running out of export room between declining reserves and surging internal demand. 18 M bpd = 6.6 BILLION barrels per year. The 'recoverable' portion of Cline is estimated at 30 Billion barrels, which is 5 years of total demand. Bakken and Eagle Ford between then have about that much again. So, as of 2030, that means the US has less than 15 years supply of tight oil IF it had to supply ALL of the oil.

So, its time to rethink that we can merrily go on using oil at the same rate as before. Since transportation is about 3/4 of all oil use in the USA, then transportation has to transition off oil (don't say tight natural gas--because the same long term limitations on water apply to it as well)
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Discovery02
Champion Author Colorado Springs

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Message Posted: Jun 27, 2013 11:12:22 AM

Good to find another source of crude but can we drill to those depths consistantly safely?
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jjjleblanc
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Message Posted: Jun 27, 2013 11:02:13 AM

Great news.
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niffty50
Veteran Author Indianapolis

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Message Posted: Jun 27, 2013 10:40:55 AM

Good news.
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humblepie
Champion Author Toledo

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Message Posted: Jun 27, 2013 10:38:24 AM

so much for peak oil.................
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shashathern
Champion Author California

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Message Posted: Jun 27, 2013 10:24:35 AM

And when shale oil runs out, they'll find it elsewhere
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gbs1
Champion Author Minnesota

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Message Posted: Jun 27, 2013 10:01:01 AM

More good news for domestic oil
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Luckylindy
Champion Author Milwaukee

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Message Posted: Jun 27, 2013 10:00:34 AM

More good news.
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jrschl
Champion Author Louisville

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Message Posted: Jun 27, 2013 9:56:09 AM

Should look very bright. I think anything with the word shale or oil in its name should look pretty bright these days.
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CaptainStall
All-Star Author New Brunswick

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Message Posted: Jun 27, 2013 9:36:44 AM

Didn't know he was "seething over Texas' success." That hasn't made the news here.
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drpepperTX
Champion Author Texas

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Message Posted: Jun 27, 2013 9:28:36 AM

""If we look at models of other Texas shale plays and extrapolate data based on their size and resources, the impact from the Cline shale could generate more than $30 billion annually in total economic impact across an 11-county region once it begins in full exploration phase," Chris Faulkner, CEO of Breightling Oil & Gas, told Rigzone. "Additionally, we think the Cline will support over 50,000 jobs during the exploration phase, which could last upwards of 20 years.""

No wonder Obammamama is seething over Texas' success during his war on the American economy!
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