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November 14, 2024
The North American resource life in years for major US producing basins and Western Canada for full cycle cost below USD $50/Bbl and USD $60/Bbl.
- Resource life is calculated as resources divided by 2023 production.
- Resource life is different from reserves life, which is lower.
- Actual resource life could vary from Incorrys’ results for several reasons:
- Higher oil prices may sustain drilling in lower productivity areas of a play or basin;
- Access to new pipeline capacity for oil or associated gas could also impact the rate of production from a basin or play.
- The US Permian has the lowest resource life compared to other US Tight oil basins at 26.1 years for a cost of USD$60/Bbl and below.
- Canadian resource life is 42.5 years for a cost of USD$60/Bbl and below.
- Total North American resource life is 38 years for a cost USD$60/Bbl and below and 27 years for a cost USD$50 and below.
See Also:
North American Oil Resources
North American Oil Resource Cost Curve
Full Cycle Cost of North American Oil by Basin
Russian Oil Resources
References:
U.S. Crude Oil and Natural Gas Proved Reserves