November 14, 2024
This chart shows resource life in years for major US producing basins 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.