2009 USGS report increases Colo.-Piceance Basin potential by 50%
Drilling Activity Details
Locations
Garfield
CO
United States
Operators
Plays
Post Date
Well Name
n/a
Geo Coordinate
Drilling Activity Summary
Description
A recently released U.S. Geological Survey (USGS) report estimates that the Piceance Basin of western Colorado contains about 50% more oil shale than believed 20 years ago. According to the new USGS report, the Piceance Basin has an estimated 1.525 trillion bbl. of in-place oil-shale resources and also contains one of the thickest and richest oil shale deposits in the world. However, the environmental and technological challenges of extraction and recoverability, water rights in the semi-arid Colorado climate, incomplete research and development, and federal land-use disputes leave a big question mark on the future of near-term field development.
Description
A recently released U.S. Geological Survey (USGS) report estimates that the Piceance Basin of western Colorado contains about 50% more oil shale than believed 20 years ago. According to the new USGS report, the Piceance Basin has an estimated 1.525 trillion bbl. of in-place oil-shale resources and also contains one of the thickest and richest oil shale deposits in the world. However, the environmental and technological challenges of extraction and recoverability, water rights in the semi-arid Colorado climate, incomplete research and development, and federal land-use disputes leave a big question mark on the future of near-term field development.