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NEWS BULLETIN

June 28, 2011 --- Vol. 17, No. 57June 2011

USGS publishes new Cook Inlet assessment

The U.S. Geological Service has issued a new assessment of undiscovered, technically recoverable oil and gas resources in Alaska’s Cook Inlet basin. The agency says that it has estimated that somewhere in the range of 108 million to 1,359 million barrels of undiscovered oil and 4.9 trillion to 39.7 trillion cubic feet of undiscovered natural gas remain in the basin.

The gas resource estimates include both gas in conventional fields and unconventional gas in the form of coalbed methane and in the form of continuous gas resources in more deeply buried Mesozoic rocks.

USGS thinks about 28 percent of the gas resource would be unconventional, with the bulk of this being coalbed methane.

The oil is anticipated to lie in conventional oil reservoirs, some in the Tertiary strata that host the current operational oil fields, and some in older and deeper Mesozoic reservoirs.

See full story in July 3 issue of Petroleum News, available online at 11 a.m., Friday, July 1 at www.PetroleumNews.com

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