A Surprise In The Paradox Basin? -- Oilprice -- August 14, 2017 - Hallo friendsMY LIVE MY WAY, In the article you read this time with the title A Surprise In The Paradox Basin? -- Oilprice -- August 14, 2017, We have prepared this article for you to read and retrieve information therein. Hopefully the contents of postings Article my style, Article my way, Article New ways, Article their way, We write this you can understand. Alright, good read.

Title : A Surprise In The Paradox Basin? -- Oilprice -- August 14, 2017
link : A Surprise In The Paradox Basin? -- Oilprice -- August 14, 2017

A Surprise In The Paradox Basin? -- Oilprice -- August 14, 2017

I'm re-posting this as a stand-alone post. It may or may not be that important, but it has enough interest to get a stand-alone post. Posted earlier here.

Oilprice is reporting "a surprise discovery coming out of Utah and Colorado’s Paradox Basin oil field has captured the attention of the petroleum sector today." Data points:

• Paradox Basin, spans Utah and Colorado
• new report from well-respected consulting firm Ryder Scott
• estimates nearly 8 billion bbls of oil in place; an additional 7 trillion cubic feet of ast
• major leaseholder is a junior resource company seen as a pioneer leading the charge in the development of domestic lithium production
• uses an innovative method of extraction involving petroleum brine water, called "petrolithium"
• MGX Minerals, a $68-million company; has one of the largest lithium portfolios in NorthAmerica

More at the link.The Paradox Basin is linked at the sidebar at the right and tracked here.

At the "original" Paradox Basin post, there is a link to a 2011 USGS assessment of the Paradox Basin. At that time, the USGS estimated 560 million bbls of undiscovered oil; 12,701 billion cubic feet of undiscovered natural gas; and 490 million bbls of undiscovered natural gas liquids in the Paradox Basin of Utah, Colorado, New Mexico, and Arizona.

I am always confused by some of this terminology but if by "undiscovered oil", the USGS means "undiscovered/technically recoverable oil" then the USGS in 2011 estimated 560 million bbls of technically recoverable oil, not yet discovered, if that makes sense. 

I don't know primary production for the NG or NGL but 7% of 8 billion bbls OOIP comes to ... drum roll ... exactly 560 million bbls of oil.

From the USGS pdf linked above:

The Precambrian Chuar Group contains shales with up to 10 percent total organic carbon that could have generated technically recoverable hydrocarbons within the Precambrian Chuar Self-Sourced Reservoirs AU.

The Devonian Aneth Formation is described as having black shale intervals and because the Devonian is one of the major source rock intervals worldwide, the formation is recognized as having some potential for technically recoverable hydrocarbons within the Devonian Self-Sourced Reservoirs AU.

Two abbreviations used by the USGS in these reports:

• TPS: total petroleum system
• AU: assessment unit

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