Reexmaning the united states shale gas successtime of a well, 3. Oil shale history oil shale processing started over a century ago in europe. Oil shale in egypteastern desert found at the red sea. Definition sedimentary rock with a high organic content organic matter is known as kerogen kerogen. There were some sharp changes in estimates, which is to be expected given the preliminary nature of the data. These processes convert the organic matter within the rock into synthetic oil and gas. It has four times the oil as the bakken field in north dakota.
Dyni abstract oil shale deposits are in many parts of the world. Oil shale is the rock from which shale oil is extracted. Oil shale reserves refers to oil shale resources that are economically recoverable under current economic conditions and technological abilities. For the total bazhenov shale prospective in the west siberian basin, we estimate a risked shale oil in place of 1. This working paper should not be reported as representing the views of the european central bank ecb. Oman, and the united arab emirates to more than 40 countries with shale reserves. Geology and resources of some world oilshale deposits usgs. The resulting oil can be used immediately as a fuel or upgraded to meet refinery feedstock specifications by adding hydrogen and removing impurities such as sulfur and nitrogen. Oil shale is a rock that contains significant amounts of organic material in the form of kerogen. In fact, unless you take a right turn off interstate70 west at rifle, head north on railroad avenue.
Oil shale is an organicrich finegrained sedimentary rock containing kerogen a solid mixture of organic chemical compounds from which liquid hydrocarbons can be produced, called shale oil not to be confused with tight oilcrude oil occurring naturally in shales. The exposure of shale oil and gas companies to interestrate fluctuations is tied to their. Dyni abstract oilshale deposits are in many parts of the world. Shale oil revolution on the global oil market, the. The status of world oil reserves 4 about the authors amy myers jaffe wallace s.
Although no serious attempts have been made yet to analyze the size of the u. The energy information administration estimates us undiscovered, technically recoverable oil resources to be an additional 198 billion barrels. It was established in 1912 to monitor and analyse the uss oil shale reserves. As it reaches its oil window, oil shale releases a liquid known as shale oil. Petroleum and natural gas are probably the most familiar hydrocarbons. Cristiana belu manescu and galo nuno no 1855 september 2015. The mission of the office of petroleum reserves opr is to protect the united states from severe petroleum supply interruptions through the acquisition, storage, distribution, and management of emergency petroleum stocks, and to carry out the u. Crude oil, natural gas, and natural gas liquids reserves washington, dc. What are the potential reserves of shale gas in the uk. Kerogen is a part of rock that breaks down and releases hydrocarbons when heated. Oil shale is a type of sedimentary rock that is rich in kerogen. Between 1909 and 1924, tracts in california, utah, and wyoming were set aside that became the naval petroleum and oil shale reserves the. Shale oil is an unconventional hydrocarbon produced by oil and gas companies from shale rocks by the processes of pyrolysis, hydrogenation, or thermal dissolution. World has more shale oil reserves than previously thought.
These resources include a wide variety of bituminous coal, lignite, oil shale, asphaltite, and peat deposits and vary in reserve quality and physical characteristics 4. Oil shale deposits exist in 37 countries globally, but the largest and highest quality oil shale deposits are in sparsely populated areas. In its june 20 report, this is how the eia described bazhenov reserves. The former pages talk page can be accessed at talk. The 2018 reserves represent the largest us proven reserves since 1972. Shale oil is an unconventional oil produced from oil shale rock fragments by pyrolysis, hydrogenation, or thermal dissolution. If your company is eager to join in the shale rush, make certain you take steps to ensure that acquired reserves are properly fair valued for financial reporting purposes. Reserve base lending rbl structure and borrowing base determination. The economic feasibility of oil shale extraction is. Valuing the great shale play 3 once considered an unconventional resource, shale gas today is viewed by many as an important component of the domestic energy portfolio. Secondly, because the spent shale after retorting has a similar volume to the raw shale, has few uses and may include small quantities of carcinogens, its disposal presents formidable environmental problems.
Technically recoverable shale oil and shale gas resources eia. Pdf oil shale reserves in estonia tarmo tohver and. The oil market in the age of shale oil european central bank. Deloitterodocumentsenergyresourcesusercrudedownturn2016. Oil shale conventional gasoline each unit of oil shale produced generates up to 20 units of co 2 parachute, colorado is one of the areas oil companies want to open up to destructive oil shale drilling. Oil shale, shale oil, and oil bearing shale are three different substances. You wont think much of rio blanco county if you ever drive through it. Energy slideshow dallas fed federal reserve bank of dallas. An initial assessment of 14 regions outside the united. History, incentives, and policy summary oil shale is prevalent in the western states of colorado, utah, and wyoming. Its about twothirds of the nations total shale reserves. Oil shale, also known as kerogen shale, is an organicrich finegrained sedimentary rock containing kerogen a solid mixture of organic chemical compounds. The bgs has carried out a basic geological study of shale gas basins through the use of conventional oil and gas well data to identify potential targets.
The majority of predictions are based on the uks three main shale gas formations. In the long term, we estimate that shale oil could displace around 3540% of waterborne crude oil imports to the us. Stinky water, sweet oil a daily reckoning white paper report by dan denning. The vertical scale is in thousands of barrels of inplace shale oil per acre and the horizontal. The barnett shale has an estimated gas in place greater than 120 bcf per square mile. The naval petroleum and oil shale reserves department of. The resultant shale oil is used as fuel oil or upgraded to meet refinery feedstock specifications by adding hydrogen and removing sulfur and nitrogen. The shale gas resources assessed in this report, combined with eias prior estimate of u.
When russia finally hops on shale bandwagon, opec is. Shale oil extraction is an industrial process for unconventional oil production. Estonian oil shale properties and utilization in power plants pdf. The us holds more oil reserves than saudi arabia and russia, the first time it has surpassed those held by the worlds biggest exporting nations, according to a new study. Oil shale reserves is part of wikiproject geology, an attempt at creating a standardized, informative, comprehensive and easytouse geology resource. The use of shale oil preceded the use of petroleum, initially as a replacement for whale oil and later after the invention of the automobile for motor fuels. Department of the navy, office of naval petroleum and oil shale reserves. Why billions in proven shale oil reserves suddenly became unproven asjylyn loder, u. A federal oil shale research program was initiated, and many energy companies began acquiring oil shale lands and developing extraction processes. The status of world oil reserves 3 acknowledgments this essay is an excerpt from a longer monograph titled the status of world oil reserves and implications for the gulf published by the emirates center for strategic studies and research. Crude oil and natural gas proved reserves, yearend 2018 another year of stronger oil and natural gas prices increased 2018 oil and natural gas proved reserves in the united states to another alltime record level.
The resource potential of these shales is es timated to be the equi valent of 1. A large number of countries, including great britain, have sustained small oil shale. Proved reserves generally increase when new production wells are drilled and decrease when existing wells are produced. Baker iii institute for public policy, rice university amy myers jaffe is the wallace s.
Shale east newark field has developed into the largest gas field in texas with annual production in 2002 of approximately 200 bcf and proven gas reserves in excess of 3. Geology and resources of some world oilshale deposits1 by john r. Shale oil is an unconventional oil produced from oil shale rock fragments by pyrolysis. This is a key moment to determine the future energy balance between oil and lowcarbon alternative fuels. Geology and oilshale resources of naval oilshale reserve no. Shale gas and fracking in the uk grantham research. Us shale oil production has expanded greatly since 2011, and now rivals that of. Hydrocarbons are substances made entirely of hydrogen and carbon. Estimated tonnage and potential oil yield of oil shale in and adjacent to the mahogany oil shale bed in naval oil shale reserve no. Please leave this template in place to link the article histories and preserve this attribution. List of countries by recoverable shale gas wikipedia. This united states governmentrelated article is a stub. The term technically recoverable resources correspond to the quantity of oil and natural gas that could be produced with.
Sep 25, 2015 world shale resources grow with reserves in new countries. This is a list of countries by recoverable shale gas based on data collected by the energy information administration agency of the united states department of energy. Working paper series quantitative effects of the shale oil revolution. However, the rise of nuclear energy and the discovery of enormous oil reserves in the middle east. Office of naval petroleum and oil shale reserves wikipedia.
Between 1909 and 1924, tracts in california, utah, and wyoming were set aside that became the naval petroleum and oil shale reserves the oldest component of todays fossil energy organization. Aug 29, 2017 in its june 20 report, this is how the eia described bazhenov reserves. Despite having a shorter time residence in the atmosphere, methane is a greenhouse gas ghg with a warming potential greater than that of carbon dioxide. The federal government was eager to regain control of vast oil shale reserves in the uintah basin, and selective legal precedent was used for achieving this goal. Oil shale reserves refers to oil shale resources that are economically recoverable under current. Material from oil shale was split to oil shale reserves on 09.
Estimated tonnage and potential oil yield of the richest. The charts below outlines the top ten countries with the largest resources of shale oil and shale gas as per this assessment. Defining oil shale reserves is difficult, as the chemical composition of different oil shales, as well as their kerogen content and. This process converts kerogen in oil shale into shale oil by pyrolysis, hydrogenation, or thermal dissolution. The hydrocarbons in oil shale can be used as an alternative to petroleum or natural gas. They range in age from cambrian to tertiary and were formed in a variety of marine, continental, and lacustrine depositional environments. Shale gas formations are unconventional reservoirs i. Liquid and gaseous hydrocarbons can be extracted from the oil shale, but the rock must be heated andor treated with solvents. Wilson fellow in energy studies and director of the energy forum at the baker institute, as well as associate director of the rice energy program. In view of these developments, it is relevant to analyse to what extent shale gas can contribute to the future of the energy landscape and highlight the challenges this may involve. Geology and resources of some world oil shale deposits1 by john r. Shale production and reserves study bureau of economic geology. Task force on strategic unconventional fuels that provided more specific suggestions for federal action.
Us shale oil output surge depends on cash, logistics and tech. Us oil reserves surpass those of saudi arabia and russia cnbc. An industry in scotland operated from the 1850s until the 1930s. The shale production and reserves study, conducted by the bureau of economic geology at the university of texas at austin, integrates engineering, geology, and economics in a numerical modeling approach that allows for scenario testing based on many input parameters. Shale gas exploration is in the very early stages in the uk and therefore the amount that could be recovered remains uncertain. Oil shale oil shale is a negrained sedimentary rock containing a solid material kerogen that converts to liquid oil when heated.
Geology and resources of some world oilshale deposits. Shale production and reserves study bureau of economic. Oil shale deposits range from small presently economically unrecoverable to large potentially recoverable resources. Does office of naval petroleum and oil shale reserves issued a roadmap for federal decision making regarding oil shale in 2004 that was followed up by a 2007 u. Numbers for the estimated amount of recoverable shale gas resources are provided alongside numbers for proven natural gas reserves. The study surveyed shale reserves in more than 40 countries and determined that russia had the worlds largest shale oil reserves, at around 75 billion barrels. Oil shale deposits exist in 37 countries globally, but the largest and highest quality oil shale deposits are in sparsely populated areas of colorado, utah and wyoming figure 1. Plumbing oil from shale rock is a costly endeavor that depends on expert execution. When russia finally hops on shale bandwagon, opec is finished. Shale oil is a substitute for conventional crude oil.
To ensure sufficient fuel for the fleet, the government began withdrawing probable oilbearing lands from the public domain. Crude oil and lease condensate proved reserves rose by 12%,and natural gas proved reserves rose by 9% table 1. The naval petroleum and oil shale reserves department of energy. Salazar, a more stringent standard was applied retroactively, and the validity of larsons claims under existing laws denied. The former pages history now serves to provide attribution for that content in the latter page, and it must not be deleted so long as the latter page exists. Definition oil shale, also known as rock kerogen,isan organicrich finegrained rock from which liquid hydrocarbons called shale oil can be recovered shale oil is a substitute for conventional crude oil. Total 3,357 22,882 increase in total resources due to inclusion of shale oil and shale gas 11% 47% shale as. If you would like to participate, you can choose to edit this article, or visit the project page for more information. The united states office of naval petroleum and oil shale reserves is part of the us department of energy. Global technically recoverable oil shale reserves have recently been estimated at about 2. Pdf oil shale reserves in estonia veiko karu and tarmo. To ensure sufficient fuel for the fleet, the government began withdrawing probable oil bearing lands from the public domain. About technical terms of oil shale and shale oil pdf. Shale oil february 20 3 shale oil could make the largest single contribution to total us oil production growth by 2020, with the proportion of production from conventional sources remaining relatively stable.
Geology and oilshale resources of naval oilshale reserve. An assessment of 7 shale formations in 41 countries outside the united states. Resource categories when considering the market implications of abundant shale resources, it is important to distinguish between a. Technically recoverable shale oil and shale gas resources. Energy information administration, world shale gas resources. Numbers for the estimated amount of recoverable shale gas resources are provided alongside numbers for. Shale tight oil and shale gas proved reserves na 97 shale tight oil and shale gas unproved resources 345 7,201 other proved reserves 1,642 6,741 other unproved resources 1,370 8,842. Jul 05, 2016 the us holds more oil reserves than saudi arabia and russia, the first time it has surpassed those held by the worlds biggest exporting nations, according to a new study. Crude oil and natural gas proved reserves, yearend 2018. Defining oil shale reserves is difficult, as the chemical composition of different oil shales, as well as their kerogen content and extraction technologies, vary significantly. Though the reserves remained largely undeveloped until the 1970s, the passage of the naval petroleum reserves production act in 1976 authorized their commercial development and transformed the reserves into a lucrative source of revenue for the u. World shale resources grow with reserves in new countries. Even then, production from shale wells peaks quickly and then begins a period of diminishing returns.