Houston, United States
Houston, United States

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Bishop R.S.,RSK UK Ltd. | Baggot R.A.,RSK UK Ltd. | Kelley W.L.,RSK UK Ltd. | Fargo R.E.,RSK UK Ltd.
Oil and Gas Journal | Year: 2012

Domestic non-conventional oil production rates are more a function of global oil price than resource size. In contrast to gas development which requires market growth and long term supply, the US market will consume all domestic oil that is produced. Forecasting global supply rate is difficult, but given the low rate of finding supergiant fields, a large, rapid addition to supply is unlikely in spite of the large in-place volumes associated with shale oil. The author's models presume resource sizes of 10 billion, 20 billion bbl. A minimum length of plateau has been based on the expected life of a rig of about seven years. Other factors like drilling the least productive areas last and improvements of technology, may also lengthen the duration of productivity for a given resource. The limit for oil production rate over the next 50 years is the total resource volume, unlike gas which is not limited over the same period by resource but rather by demand driving the rate of development.


Bishop R.S.,RSK UK Ltd. | Baggot R.A.,RSK UK Ltd. | Kelley W.L.,RSK UK Ltd. | Fargo R.E.,RSK UK Ltd.
Oil and Gas Journal | Year: 2012

The article discusses how Shales can greatly cut oil imports if US gas markets are developed. The US imports more than 9 million b/d of oil, and using shale gas for transportation can reduce those imports. Not only is shale gas cheaper to produce, but it provides domestic investment which enhances its value to the nation. There are many opinions today on how to supply US energy needs from conventional oil, natural gas, coal, nuclear, and renewable energy resources. Among the options for power generation will be the increased use of natural gas due its current cost advantages over oil, coal, and nuclear and the greater social-regulatory difficulties associated with building new coal and nuclear plants. Currently in the US there is an emerging concern about the age of its coal and nuclear power plants and how to replace them. The average age of coal plants is over 40 years, and more than half of the nuclear plants are over 30 years old.


Bishop R.S.,RSK UK Ltd. | Baggot R.A.,RSK UK Ltd. | Kelley W.L.,RSK UK Ltd. | Fargo R.E.,RSK UK Ltd.
Oil and Gas Journal | Year: 2012

The large potential resource volumes reported for shale oil and gas have generated comparably large expectations for increased future oil and gas supplies in both the US and the rest of the world. These expectations include the substitution of domestic gas for imported oil, utilizing domestic gas as a cleaner or safer alternative for coal and nuclear generated electricity, and as well as providing gas exports. Imported oil is used mainly for transportation within an existing infrastructure. In contrast, it will take years, huge investments, and regulatory efficiencies to put in place a gas infrastructure for transportation, convert vehicles to burn natural gas, or to build plants to convert gas to liquids. The domestic oil supply appears to be limited by domestic resource volume. Improvements in completion technology could increase shale oil production rates dramatically, but the oil endowment probably is not large enough to replace imported oil.

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