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The mysterious Piceance Basin: How many billions of barrels of oil shale resources are hidden here?
The Piceance Basin is located in northwestern Colorado, USA. The formation of this geological structural basin can be traced back to tens of millions of years ago, with multi-layered rocks from the Cambrian to the Holocene. Of particular interest are the Cretan rocks in the basin, an area rich in hydrocarbon resources such as coal, natural gas and oil shale.
The name "Piceance" may come from the Shoshone "piasonittsi", which means "tall grass". In fact, how many oil shale resources are hidden under this vast land? ”
Hydrocarbon resources
According to an assessment released by the United States Geological Survey (USGS) in 2016, the Mancos Shale in the Piceance Basin has technically recoverable oil shale resources totaling 74 million barrels, 66 million cubic meters of natural gas and 45 million barrels of natural gas. Natural gas liquids. The potential of these resources is undoubtedly attracting increasing attention.
Development of natural gas
With the increase in global natural gas demand, development activities in the Piceance Basin have grown rapidly, with the Williams Fork formation as the main development target. The formation is a thousands-foot-thick combination of shale, sandstone, and coal located in an ancient coastal plain environment. Although the low permeability of sandstone reservoirs made economic development difficult in the early days, in recent years the economics of natural gas wells in this area have greatly improved due to innovations in hydraulic fracturing technology and rising natural gas prices.
"In 2007, the Piceance Basin had proven reserves from five of the top 50 U.S. natural gas fields, namely Grand Valley (No. 16), Parachute (No. 24), Mamm Creek (No. 27), Rulison (No. 29), and Rulison (No. 46). Piceance Creek"
The potential of oil shale
Demand for oil shale has also surged due to increased global energy demand. The Piceance Basin contains the richest and thickest oil shale deposits in the world and is a key area for oil shale research and development projects in the United States. According to the latest USGS assessment, the Piceance Basin has in-situ oil shale resources of approximately 1.525 trillion barrels, a figure that has increased by 50% compared to the 1989 assessment. The new assessment benefited primarily from data collection across more geographic areas and underlying areas.
"U.S. Secretary of the Interior Ken Salazar said this demonstrates the need for continued research and development in this area."
Production updates
The development of resources in the Piceance Basin has not only attracted interest from energy companies, but also prompted the advancement of infrastructure projects. Plans for the Pacific Link natural gas pipeline aim to transport these resources to the Jordan Cove energy project in Oregon. However, approval of the project was denied by the Federal Energy Regulatory Commission in 2016 because the need for the project had not been demonstrated. Still, as time goes on, the producers hope to restart the project again.
Geological background
The geological structure of the Piceance Basin is closely related to other basins such as the Uinta Basin, both of which originated from the Laramide fold movement. According to the USGS assessment, the Piceance Basin is mainly composed of black shale and rocks of various ages, and its deep geological structure provides it with abundant hydrocarbon resources.
“The Cretan Honor Group and its equivalent layers of rocks in the basin are the main source of oil, while the Mesaverde of Upper Crete is an important source of natural gas.”
As the Piceance Basin is dug deeper, the future of this mysterious land remains uncertain. In today's pursuit of energy independence, should we rethink the impact of developing these resources and their potential advantages and risks?
