Significant Natural Gas Resources Remain to Be Discovered in Cook Inlet, AlaskaThe Cook Inlet Region of Alaska contains an estimated mean of 19 trillion cubic feet of natural gas, about 600 million barrels of oil, and 46 million barrels of natural gas liquids, according to a new assessment by the U.S. Geological Survey (USGS). This estimate is of undiscovered, technically recoverable oil and gas resources, and includes both unconventional and conventional resources. These gas estimates are significantly more than the last USGS assessment of southern Alaska in 1995, in which a mean of 2.14 trillion cubic feet of gas was estimated. This increase in the undiscovered resource is attributed to new geologic information and data.
"For the first time, USGS has evaluated unconventional (or continuous) as well as conventional petroleum resources in the Cook Inlet region of Alaska," said Brenda Pierce, USGS Energy Resources Program Coordinator. "USGS conducts assessments to evaluate the Nation's petroleum potential, especially as new data and information become available in order to understand the resource endowment of the Nation."
Since oil and gas production began in the Cook Inlet region in 1958, more than 1.3 billion barrels of oil and 7.8 trillion cubic feet of gas have been produced, yet the new USGS assessment shows that significant undiscovered gas remains.
This USGS assessment includes estimates of conventional and unconventional, or continuous, accumulations, including coalbed gas and tight gas formations. Coalbed gas is a form of natural gas extracted from coal deposits, whereas tight gas is natural gas occurring in impermeable, compact rock formations. Both require different development techniques than conventional gas accumulations.
The USGS assessment of undiscovered gas resources ranges from 4,976 to 39,737 trillion cubic feet (95 percent and 5 percent probability, respectively. Of this total, about 72 percent is estimated to be found in conventional accumulations, 25 percent in coalbed gas accumulations, and 3 percent in tight gas accumulations.
The USGS assessment of undiscovered oil resources ranges from 108 to 1,359 million barrels of oil (95 to 5 percent probability, respectively). These resources are all conventional resources; there are no unconventional oil resources assessed in the Cook Inlet region.
These new estimates are for technically recoverable oil and gas resources, which are those quantities of oil and gas producible using currently available technology and industry practices, regardless of economic or accessibility considerations. As such, these estimates include resources beneath both onshore and offshore areas of the Cook Inlet region (exclusive of the Federal offshore) and beneath areas where accessibility may be limited by policy and regulations imposed by land managers and regulatory agencies.
Posted: June 28, 2011
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