Recoverable

The amount of undiscovered, technically recoverable natural gas resources in Alaska’s Cook Inlet region is “significantly more” than what was thought 16 years ago, the U.S. Geological Survey (USGS) said.

The United States “may now be sitting on between 50 and 100 years worth of recoverable natural gas,” and more than a century’s worth of undeveloped gas is locked in place around the world, BP plc CEO Tony Hayward said Thursday.

The United States “may now be sitting on between 50 and 100 years worth of recoverable natural gas,” and more than a century’s worth of undeveloped gas is locked in place around the world, BP plc CEO Tony Hayward said Thursday.

Calgary-based Talisman Energy Inc. has identified more than 132 Tcf of original gas in place (OGIP) on its North American unconventional land holdings, more than 30 Tcf of it recoverable, company officials said at an investor conference in New York last week. Those figures exclude 770,000 acres that Talisman holds in Quebec, which are still early in the evaluation phase.

Calgary-based Talisman Energy Inc. has identified more than 132 Tcf of original gas in place (OGIP) on its North American unconventional land holdings, more than 30 Tcf of it recoverable, company officials said at an investor conference in New York Wednesday. Those figures exclude 770,000 acres that Talisman holds in Quebec, which are still early in the evaluation phase.

Hess Corp. said it has completed an appraisal well at its Pony discovery on Green Canyon Block 468 in the deepwater Gulf of Mexico. Recoverable resources in the prospect are estimated to be 200 million boe. The Pony #2 sidetrack well encountered the same objective sands as the Pony #1 and #2 wells, Hess said. The sidetrack appraisal well reached a measured depth of 33,362 feet from a surface location 7,400 feet northwest of the discovery well. The main pay sand was oil-filled throughout the interval drilled. The appraisal well is part of an ongoing data gathering program that is being conducted over the Pony prospect, which is 100% owned by Hess. The company said it is evaluating development concepts for production from the Pony prospect before making a final investment decision.

Following an appraisal of its deepwater Droshky prospect in the Gulf of Mexico, Marathon Oil Corp. estimates the discovery holds mean recoverable resource of 80-90 MMboe. The Droshky discovery is located in 2,900 feet of water on Green Canyon Block 244, about 137 miles south-southwest of Venice, LA. The appraisal process consisted of drilling a down dip sidetrack well and a lateral sidetrack well. The wells are about two miles south of the Troika Field Production System. The initial well was drilled to a total depth of 21,190 feet and encountered 250 feet of net oil pay. The down dip appraisal sidetrack encountered more than 600 feet of net oil pay, while the lateral sidetrack encountered 300 feet of net oil pay. All pay intervals are Upper Miocene in age. Marathon expects to produce the field via subsea completions through the Troika system and Bullwinkle Platform, with terms already in place. The timing of initial production will be dependent upon delivery of key equipment (i.e., drilling rig and subsea equipment) and regulatory approvals, but could be as early as 2010. Marathon holds a 100% working interest in the Droshky prospect and a 50% working interest in the Troika unit.

Following an appraisal of its deepwater Droshky prospect in the Gulf of Mexico, Marathon Oil Corp. estimates the discovery holds mean recoverable resource of 80-90 MMboe. The Droshky discovery is located in 2,900 feet of water on Green Canyon Block 244, about 137 miles south-southwest of Venice, LA.

A new inventory of natural gas and oil on 99 million acres of federal land in 11 major geographic areas of the United States found that only 13% of the gas and 3% of the oil resources are recoverable under standard leasing terms, such as minimizing impacts on environmental and cultural resources.