Tuesday, December 10, 2015 AGS Luncheon

"Cook Inlet Natural Gas Reserves Study 2015"

Noon Luncheon 11:30-1:00 pm

Joint meeting with SPE & GSA in Anchorage.

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LUNCHEON ABSTRACT

The Cook Inlet basin has produced 8,308 billion cubic feet of gas and 1.35 billion barrels of oil as of December 31, 2014, with approximately 1,183 BCF of proved and probable remaining gas reserves. These volumes are quantified from production and surveillance data available from existing and previously producing wellbores as of that date.

Reservoir engineering principles were used to evaluate the volumes of gas remaining in existing Cook Inlet fields. The analyses  to be discussed represent current estimates by Division of Oil and Gas staff, not the operators.  Estimates are based on public data reported by the operators to the Alaska Oil and Gas Conservation Commission. All 34 currently or historically producing Cook Inlet gas fields, many of which contain multiple pools, were evaluated by applying both decline curve analysis and material balance engineering methods to the publicly available production and pressure data. Based on extrapolations of production trends, these engineering techniques were used to derive estimates of remaining reserves in two tranches, which are considered approximately equivalent to the proved and probable reserves categories.

The petroleum engineering analysis pursued in this study allow the evaluation of remaining gas volumes at varying levels of production certainty and readiness. The total 1P (proved) reserves remaining to be produced from all existing fields in the Cook Inlet basin is estimated at approximately 711 BCF, including associated gas from oil production. This volume was identified by the base case decline curve analyses and assumes sufficient investment to maintain existing wells and their established production trends.
Additional probable reserves that would be recoverable by mitigating well problems and increasing investment in existing fields are estimated at approximately 472 BCF, with a total of 1,183 BCF 2P (proved + probable) reserves remaining in existing fields basin-wide. This study does not address prospective (undiscovered) or contingent (discovered, non-producing) resources, nor do these engineering methods quantify 3P (proved + probable + possible) reserves. The division’s estimates may be updated as additional production and reservoir pressure data become available and as recent discoveries are developed and brought into production.

SPEAKER BIOGRAPHY

Speakers: Islin Munisteri, Alaska Department of Natural Resources

Islin is currently a Petroleum Reservoir Engineer for the State of Alaska Department of Natural Resources, Division of Oil and Gas. She has experience across both onshore and offshore, operated and non-operated, across the United States. She has worked coalbed methane in the Powder River Basin, tight gas in East Texas and Ardmore Basins, and conventional oil and gas fields in the Deepwater Gulf of Mexico and Alaska’s Cook Inlet. She has previously worked for BP and Anadarko.

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