Hydrocarbon Value for the 1002 Area

Report

Summary

Probabilistic Hydrocarbon Potential Estimates

Billion barrels of Oil

Trillion ft^3 of Gas

5%

50%

95%

5%

50%

95%

USGS Open File Report 98-34, 1998
Economically Recoverable

Billions of barrels of oil

11.799

7.668

4.254

10.85

2.94

0

 

Higher end

Value, in billions of dollars

412.97

268.38

148.89

61.17

16.57

0

 

Current Value

366.83

238.40

132.27

54.61

14.80

0

 

Lower End

294.98

191.7

106.35

44.45

12.05

0

Average:

 

358.26

232.83

129.17

53.41

14.47

0

USGS Open File Report 98-34, 1998
Technically Recoverable

 

16

10.3

5.7

 

 

 

 

Higher End

Value, in billions of $

 

 

 

560

360.5

199.5

 

Current Value

497.44

320.23

177.21

 

 

 

 

Lower End

400

257.5

142.5

 

 

 

Average:

 

485.81

312.74

173.07

 

 

 

 

Values used for the above price estimates
Oil   ($/barrel)                      Natural Gas  ($/MMbtu)
Higher End    $35                Higher End    $5.5
Current Value    $31.09      Current Value    $4.91
Lower End    $25                Lower End    $4

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