By Tom Latourette
This document lays the basis for identifying the fuel and oil assets which are realistically on hand whilst exploration and construction bills, infrastructure and transporation charges, and enviromental affects are thought of.
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Extra info for Assessing Gas and Oil Resources in the Intermountain West Review of Methods and Framework for a New Approach
Understanding the costs therefore requires cost data tailored to each basin. However, cost data available through the Joint Association Survey and the Energy Information Administration are generally presented by state. Further, the Hydrocarbon Supply Model (used by the National Petroleum Council) aggregates multiple state data to generate average costs for larger regions. The National Petroleum Council’s economic considerations regarding the resources in the Rockies are thus based on regional average costs that may not reflect the actual costs of extracting gas and oil from many of the basins in the region.
This means that, in contrast to the technically recoverable resource estimate, the basis upon which the access restrictions are relevant is the viable resource estimate. The viable resource estimate considers factors in addition to technology and is smaller than the technically recoverable estimate. Thus, when considering the viable resource, the amount of resource that is subject to access restrictions will be less than that reported for the technically recoverable resource. 2 notes). 2 Restricted Access 38% (45 tcf) SLT 57% (111 tcf) SLT 32% (37 tcf) No Access 30% (35 tcf) (a) Undiscovered conventional and nonconventional resources on federal lands Restricted Access 26% (52 tcf) No Access 17% (35 tcf) (b) Total resources plus proved reserves on all lands NOTES: SLT = Standard Lease Terms; tcf = trillion cubic feet.
S. 1. 4 tcf) is divided between Restricted Access (60 percent) and SLT (40 percent), according to NPC estimates (NPC, 1999). 2—Effect of Including Non-Federal Lands and All Gas Resources on Access Levels in the Greater Green River Basin estimates of the potential impact of access restrictions on gas supply and prices do not depend on this distinction. These effects depend only on the fraction of total resource that is subject to restrictions. Thus, the calculations presented by the National Petroleum Council (1999) illustrating the effect on supply and prices of increased and decreased access restrictions remain valid despite the fact that they are based on the technically recoverable resource base.