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Houston Geological Society Bulletin
Abstract
Abstract: The Search for New Exploration Plays: When Only the Best Will Do
Over the past decade, there has been a rapid evolution of exploration plays that has benefited from new efficiencies in horizontal drilling, beginning with shale gas, later to shale oil and tight oil plays, and today, even conventional reservoirs. As explorationists, we have used our understanding of these technology advancements by developing new plays that were either overlooked or underdeveloped, but can be economic with improved recoveries.
With current oil prices hovering at $40/barrel (as of late November), our understanding of both the geology and the economic drivers to commercial projects are critical in finding the very best areas to invest. Early entry into the “sweet spots” of these plays is an important economic driver, thus the ability to quickly screen and execute leasing in the best areas of the plays is a key element of our strategy. We will examine some of our company’s criteria and analytical approaches for exploring new plays, with examples from our New Albany and Woodford shale plays, our Paradox Basin and Las Animas Arch tight carbonate play, and a horizontal development of a conventional carbonate oil field.
Biographical Sketch
Julie Garvin joined Roxanna as President in 2005, after a 23 year career with Marathon Oil as an explorationist, and later as Area Manager for Gulf of Mexico Exploration. During her tenure at Roxanna, she has been directly involved in generating and executing early entry positions into new and emerging resource plays for Roxanna’s clients and industry partners. Roxanna currently holds over 500,000 acres of working and royalty interests in nine resource plays, including the Woodford, Barnett, Mississippi Lime, Chainman, Gothic and New Albany shale.
Julie holds an honor’s degree in Geophysics from the University of Texas, and currently serves on the Jackson School of Geology Advisory Council.
Acknowledgments and Associated Footnotes
1 Julie Garvin: Roxanna Oil Co., Houston, TX
Copyright © 2016 by HGS (Houston Geological Society)