Abstract

The Bureau of Economic Geology, Tight Oil Resource Assessment (TORA) Consortium has been formed to address the following questions for the Midland Basin Wolfberry and Delaware Basin Wolfbone: what is the original oil in-place and what portion of that resource is technically and economically recoverable. This presentation will provide an update and summaries of the inputs, design and status of these studies focused on the geology of these plays and future research at the Bureau of Economic Geology for these resource assessments.

The TORA team has experience developed during similar studies of the Eagle Ford, Bakken, and four gas resource play evaluations. TORA is building 3D geocellular models from technical data and information including the Bureau’s extensive core, cuttings, petrophysical models tied to whole rock, decades of previously published research, new correlation networks, geochemistry, reservoir pressures, decline curve and numerical modeling simulations. The billion cell geocellular model for the Midland Basin and developing model for the Delaware Basin have resulted in superior interpretation of data and provided more reliable results to the over 10,000 horizontal wells targeting these horizons to date.

These Geo/Reservoir 3D models are compared statistically to economic outcomes using technology inputs (well landing zones, lateral lengths, completion designs), to production data for known producing time-periods, to several decline-curve EUR forecasts and to numerical modeling. Results include estimate past results, currently drilling and completing wells, future investment opportunities and economic outlooks using various price and cost economic scenarios. Models include the basin water-balance, infrastructure, other capital expenditure and capital structure cost sensitivities.