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Conventional oil field in southern U.S. shows unconventional production potential

A conventional source of crude oil in southern U.S. region holds an estimated 16 billion barrels of oil and more than 200 trillion cubic feet (about 5,663 billion cubic meters) of gas, according to new energy research released by IHS Markit.

The IHS Markit Complete Play Analysis of the Greater Anadarko Basin, Texas, Oklahoma and Kansas, USA, is the first phase of a comprehensive, 18-month-long project to model and interpret the large basin’s key geologic characteristics to better estimate its remaining hydrocarbon potential.

The Greater Anadarko Basin, covering an area of 130,000 square km, is a geologic depositional and structural basin centered in the western part of the state of Oklahoma and the north part of the state of Texas, and extending into southwestern Kansas and southeastern Colorado. The basin has been a prolific source of conventional U.S. oil and gas production since the 1950s.

The IHS Markit analysis shows that the basin is pushing toward new all-time production highs long after conventional oil and gas production peaked in the 1970s and 1980s, respectively. Horizontal drilling in the Anadarko Basin has increased sharply since 2008, and annual basin production volumes have already set new peak records.

“The Anadarko Basin has long been a major contributor to U.S. production, but it is just getting started in terms of delivering on its unconventional production potential,” said John Roberts, executive director, global subsurface operations and co-author of the IHS Markit Anadarko Basin research with Prithiraj Chungkham, director of unconventional resources.

“We are now witnessing a new kind of Oklahoma land rush. But unlike what happened in 1889 when lands were opened to settlement, this time the competition is for access to the energy resources that lie below the surface,” Roberts said.
Source: Xinhua

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