Monday, May 27, 2019

The Jurassic -- It's Not Just A Movie Any More -- May 27, 2019

Earlier today I suggested that with poorer-than-expected "high-impact" exploration results this past year (2018), "peak oil" was back on the table.

A reader reminded me of an interesting development: the Jurassic.

I'm a bit irritated with myself. I vaguely remember reading an article on the possibility of some very deep, very old Jurassic oil reservoirs. I thought I had posted at least a short note but perhaps not.

Now, after suggesting that "high-impact" exploration has not been as good as hoped, a reader writes:
Past few years, there has been some 'buzz' surrounding so called 'pre-salt' formations ... geologically older rock at greater depths. 
Brazil has claimed some VERY high numbers regarding oil in place in offshore pre-salt formations.

Recently, there have been several references to actual - or potentially - large resources in old, deep Jurassic  reservoirs, which I believe are the same as pre-salt.
The Gulf of Mexico is the location for some of these with Chevron's Anchor project being especially  intriguing.

At a vertical depth of 28,000/30,000 feet plus, these are VERY deep wells. (Water depth between 4 and 5 thousand feet. Manageable). 
The ultra high pressure of 20,000 psi has been an insurmountable factor as hardware has not existed to routinely exploit hydrocarbons at this high a pressure.

Anyway, if Chevron decides in the coming weeks to proceed with this Anchor project - and it is successful - it has the potential to open up huge areas for development that heretofore have been deemed not doable.
So, we'll add "Jurassic" to the "other formations" at the sidebar at the right. 
Back in 2005: "Origin and potential of unconventional Jurassic oil reservoirs on the northern Arabian Plate," from onepetro.

This may have been the article I saw recently and forgot to post. From rigzone, "US Gulf of Mexico on track for historic 2019." Snippets from the article:
  • The U.S. Gulf of Mexico is on track to have a stellar 2019 ...
  • Shell’s Appomattox development is due on stream in 2019 – marking the first-ever production from a Jurassic reservoir in the Gulf of Mexico. As Appomattox is a cornerstone of Shell’s global deepwater strategy, it will be a significant milestone for the company ...
  • Another milestone for the offshore industry will be Chevron’s Anchor project, which is expected to move forward next year. With an operating pressure of 20-k psi, it would be the first ultra-high-pressure project in the world to reach FID
  • If successful, Anchor would lead to the next wave of mega investments in the Gulf of Mexico – more than $10 billion worth according to WoodMackenzie

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