Mined Oil – A Valuable Resource Opportunity

Introduction Very little attention normally is given by the experts, or the public at large, to the fact that the majority of the oil that has been or will be discovered within the U.S. remains in the ground. The inherent limitations of oil production through surface wells, either by primary or secondary techniques, will result in a total of over 300 billion bbl of oil left in the ground after completing production by standard petroleum techniques in currently producing or producible fields. This reserve represents some two-thirds of the original quantity of oil discovered in place. Recent work by a number of groups has shown that there is strong economic justification for extracting this remaining oil by mining and processing techniques. Table 1, taken from 1977 API reports, demonstrates the oil left in place at the end of the conventional petroleum production cycle in then-known fields within th’e U.S. Possible targets for oil mining operations include (1) oil remaining in place in fields and pools that have reached economic depletion by current petroleum production methods and that are not amenable to economic recovery by conventional petroleum industry techniques; (2) oilor bitumen-saturated rocks not normally considered by the industry to constitute producible reservoirs, such as shales and diatomites; and (3) asphalt- and bitumen-impregnated rocks. Economically Depleted Fields A more detailed examination of the depleted fields shows that estimates of oil remaining in place after primary, secondary, and nondestructive tertiary recovery can vary widely. There is significant evidence, however, that more than half the estimated original oil in place (OOIP) remains in the reservoir after all petroleum extraction techniques have been applied. If one compares the sum of past oil production and estimated remaining producible reserves with the API estimate of total discovered OOIP as of 1975, it becomes apparent that for the U.S. as a whole, 67070of the 00IP will remain in place at the end of the