Resource Assessment Overview
Overview
The objective of this
component of the RE program is to identify geologic plays on the OCS that
offer the highest potential for the occurrence of oil and natural gas
development and production. Following the identification of hydrocarbon
plays, RED carries out thorough analysis of the play’s hydrocarbon potential
and its economic viability with the help of complex computer models and
methodologies. The assessment process incorporates specific geologic
information, mathematical and statistical analyses, risk and probability
theories, economic scenarios, petroleum engineering data, and a variety of
additional technical assumptions. (See
Resource Assessment Methodology) Besides the estimation of the undiscovered hydrocarbon resources, these
studies help identify environmental and operational constraints as well as
assist in making leasing decisions. Resource estimates must also be
developed to support critical analyses of potential impacts of policy
options, legislative proposals, EIS’s, and industry activities affecting OCS
natural gas and oil activities — both current and future.
The Geosciences aspect of the resource
assessment work involves the study of the geology of an area; its geologic
history, regional stratigraphy and geologic trends; major structural
features; exploration history; study of source rocks, reservoir rocks, seals
and trapping mechanism; and, the identification of the most prospective
portions of a planning area in terms of hydrocarbon potential. Long lead
times are often required to determine whether a basin may be oil- or
gas-prone, to identify the presence of reservoir rocks, source rocks, and
traps necessary for natural gas and oil accumulation. The results of this
work are updated as new data and information are generated and acquired.
As previously mentioned, the scale of the
assessment activities range from large (i.e. regional or OCS-wide) to
sale-specific, i.e., individual prospects. In the early stages, the focus is
on regional areas, but as more data and information are acquired, the focus
shifts to lease sales and prospect-specific areas to be offered for lease,
or which are related to a specific issue, (i.e., moratoria, marine
sanctuaries, quantitative analysis of legislative proposal, etc.). Once a
sale area has been identified, the RE Program produces more detailed mapping
and analyses needed to estimate the resource potential of individual
prospects within that area. These prospect-specific data, maps, and analyses
are also used to determine parameters for post-sale bid analyses.
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