Outer Continental Shelf Oil and Gas Assessment 2006 (66.6 to 115.3 billion barrels of oil in U.S.)

MMS ^ | 2006

[Conservative Coulter Fan]

The MMS has completed an assessment of the undiscovered technically recoverable resources (UTRR) underlying offshore waters on the Outer Continental Shelf (OCS).  This assessment was based on information available as of January 1, 2003, including information obtained from new exploration activities in the Gulf of Mexico and in the Scotian Basin offshore Canada. 

The MMS estimates that the quantity of undiscovered technically recoverable resources ranges from 66.6 to 115.3 billion barrels of oil and 326.4 to 565.9 trillion cubic feet of natural gas.  The mean or average estimate is 85.9 billion barrels of oil and 419.9 trillion cubic feet of natural gas.  These volumes of UTRR for the OCS represent about 60 percent of the total oil and 40 percent of the total natural gas estimated to be contained in undiscovered fields in the United States.  The mean estimates for both oil and gas increased about 15 percent compared to the 2001 assessment.  For the oil resources, the vast majority of this increase occurred in the deepwater areas of the Gulf of Mexico, while for gas resources the majority of the increase was in deep gas plays located beneath the shallow water shelf of the Gulf of Mexico.

These estimates represent the potential quantities of undiscovered hydrocarbons that can be conventionally produced using existing or reasonably foreseeable technology, without any consideration of economic feasibility.  Current technology includes drilling in water in excess of 3000 meters (10,000 feet) deep and to subsea depths in excess of 9600 meters (31,700 feet).

MMS periodically conducts comprehensive assessments of the undiscovered oil and gas resources on the OCS.  The last comprehensive inventory was completed in 2001, with an interim update in 2003 to reflect significant changes in natural gas potential in the Gulf of Mexico.  The resource assessments also include production and reserve estimates for the OCS as well as estimates of undiscovered economically recoverable resources.  Undiscovered economically recoverable resources (UERR), presented in the form of price-supply curves, represent the portion of the undiscovered technically recoverable hydrocarbons that can be explored, developed and commercially produced at given costs and price considerations.

The results of this assessment, published as a brochure entitled Assessment of Undiscovered Technically Recoverable Oil and Gas Resources of the Nation’s Outer Continental Shelf, 2006  is available in electronic form below or in printed form free of charge, as long as supplies last, from the MMS Resource Evaluation Division, 381 Elden Street, Mail Stop 4070, Herndon, VA 20170.

[Conservative Coulter Fan]

[Conservative Coulter Fan]

P.S. This is oil we could be drilling, but we aren't...because Jeb Bush doesn't won't offshore drilling for Florida...because envirowhackos run California...thank the good ole U.S. Government, but hey....at least they are investigating the "profit" made by oil companies while considering raising their taxes 27.5% that will be passed on to us in the price of gasoline.

[Conservative Coulter Fan]

Also see my other thread - What are the components of the retail price of gasoline? (BUMP!!!)

[neodad]

P.S. This is oil we could be drilling, but we aren't...because Jeb Bush doesn't won't offshore drilling for Florida

Don't worry. I'm sure Castro will be happy to drill it and sell it to Blue states.

[Conservative Coulter Fan]

This country is going stright down the tube...

[Lancer_N3502A]

Bump

[Rick_Michael]

It's called the moratorium. It started in 82, and hasn't been recinded since. Politicians suck.

[SunnyD1182]

Awesome threads. You are kicking ass today man. I'm going to have much fun throwing all of this information at the foolish idiots who insist that price gouging or oil companies are to blame for the problem.

[Howlin]

Great, great post.

Bookmarking ping!

[K-oneTexas]

Another article that shows we (USA) might actually be able to support ourselves in oil ... and maybe even secure some of our future. Oil-wise and security-wise.

Kerr-McGee Identifies Significant Potential in the Rockies and Brazil; Extends Production Growth Through 2008

[snip] Oklahoma City, Jan. 19, 2006 – Kerr-McGee Corp. (NYSE: KMG) today made several major announcements in conjunction with the company's executive briefing in New York. The company announced it has: * Identified potential resources totaling more than 6 trillion cubic feet of natural gas equivalent (TCFe) in the Rocky Mountains [snip]

[onyx]

BUMP!
Thank you.

[Bahbah]

My word. That's quite remarkable.

[wingsof liberty]

We will never touch a drop of this - at least not while the democrats have anything to say about it

[Steely Tom]

The minute the capital markets are convinced that petroleum supplies are going to run out, the free market will start working on a replacement. That day hasn't come yet.

[McGavin999]

Scary isn't it? I heard Castro is going to allow the Chinese to drill right off the US coast, just beyond the point where we should have been drilling. IOW, the Chinese will be getting the oil the US should have but won't because of the enviroweenies.

[Howlin]

It's stunning.

[deport]

[SeaBiscuit]

Yep, saw that too.. meanwhile the envirowhacko libs sit by the supermarkets with their SUV's running while they shop but don't want us to drill for resources that 'Others' won't hesitate to grab.

[deport]

The impact of Katrina and Rita are still being felt in the GOM petroleum industry

The NewsRoom
Release: #3493  
Date: April 19, 2006

Hurricane Katrina/Hurricane Rita
Evacuation and Production Shut-in Statistics Report
as of Wednesday, April 19, 2006

Next Report will be issued on Wednesday, May 3, 2006 at 1:00 PM CST
For information concerning the storm click on www.mms.gov

This survey reflects 45 companies’ reports as of 11:30 a.m. Central Standard Time.
Districts	Lake Jackson	Lake Charles	Lafayette	Houma	New Orleans	Total
Platforms Evacuated	1	26	18	3	39	87
Rigs Evacuated	0	0	0	0	0	0
Oil, BOPD Shut-in	0	31,044	26,024	36,477	240,474	334,019
Gas, MMCF/D Shut-In	12.90	353.87	310.09	169.32	487.33	1,333.51
*These statistics reflect evacuations and shut-in production from Hurricanes Katrina and Rita (remaining)* Given the relatively small variations in the shut-in statistics, MMS will issue Hurricane Katrina/Hurricane Rita Evacuation and Production Shut-in Statistics every 2 weeks. The report will be posted on the www.mms.gov website at 2:00 p.m. EST on Wednesdays. In the last few days there has been minimal improvement in the production numbers and this appears to be a trend that will continue with incremental movement over the next several months. These evacuations are equivalent to 10.62% of 819 manned platforms and 0.00% of 134 rigs currently operating in the Gulf of Mexico (GOM). Today’s shut-in oil production is 334,019 BOPD. This shut-in oil production is equivalent to 22.27 % of the daily oil production in the GOM, which is currently approximately 1.5 million BOPD. Today’s shut-in gas production is 1.334 BCFPD. This shut-in gas production is equivalent to 13.34% of the daily gas production in the GOM, which is currently approximately 10 BCFPD. The cumulative shut-in oil production for the period 8/26/05-4/19/06 is 148,897,699 bbls, which is equivalent to 27.20% of the yearly production of oil in the GOM (approximately 547.5 million barrels). The cumulative shut-in gas production 8/26/05-4/19/06 is 730.466 BCF, which is equivalent to 20.013 % of the yearly production of gas in the GOM (approximately 3.65 TCF).

end snip