World resources of crude oil, natural gas, natural bitumen, and shale oil
No abstract available.
Book↗
Geology topics
William D. Dietzman
Publications and source records attributed to William D. Dietzman.
Distribution and quantitative assessment of world crude oil reserves and resources
World Demonstrated Reserves of crude oil are approximately 723 billion barrels of oil (BBO). Cumulative production is 445 BBO and annual production is 20 BBO. Demonstrated Reserves of crude-oil have declined over the past 10 years consistent with discoveries lagging production over the same period. The assessment of Undiscovered Resources shows a 90 percent probability that the amount discoverable lies between 321 and 1,417 BBO, 550 BBO being the most likely value. The most likely value for Ultimate recoverable resources is 1,718 BBO. The distribution of Ultimate Resources of crude oil will remain highly skewed toward the Middle East; no frontier areas that have potentials large enough to significantly affect present distribution are recognized. Rates of discovery have continued to decline over the past 20 years even though exploration activity has increased in recent years. Prudence dictates, therefore, that the low side of the assessment of Undiscovered Resources be responsibly considered and that alternate energy sources be a part of future planning. Extra-heavy oil and bitumen are assessed separately, with Reserves being figured as the annual productive capacity of installed facilities times 25 years. The annual production of extra-heavy oil is about 8 million barrels and of bitumen about 60 million barrels.
Open-File Report↗
Economics and petroleum resource appraisal: The case of the Permian basin:
Estimates of oil and gas resources typically are presented in terms of proved and undiscovered resources. This paper presents a methodology for incorporating economic considerations into resource appraisals for petroleum basins. A cost algorithm is used to calculate estimates of the costs of finding and developing undiscovered oil and gas fields in the Permian basin. The sensitivity of the resource estimates to variations in values of the variables in the costing model was investigated, and the results of this analysis are presented. The model indicates that at prices up to $40/bbl, the total reserves of oil and gas in barrels-of-oil equivalent (BOE's) from future discoveries will be less than 15% of the estimated ultimate recovery from fields discovered before Jan. 1 1975. Only discoveries to a depth of 20,000 ft were included.
Journal of Petroleum Technology↗