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SHALE OIL: Exploration and Development

SHALE OIL: Exploration and DevelopmentPresented By: Justin Brady, Laura Kerr, Mike PottsSenior Capstone Project Spring 2006 Current Energy Crisis World s main source of energy: Petroleum Demand exceeding supply April 17, 2006: Oil reaches $70/barrel Opportunity to develop alternate energy sources Large economic incentiveWhy SHALE Oil? Currently, United Arab Emirates hold 50% of world s known oil reservesHow much does the US hold?2%How many reserves would be added from developing oil SHALE ?

• Determine which method of production of shale oil is the most feasible. • Analyze production process to determine – Subsurface designs – Reservoir characteristics – Surface processing facilities – Scheduling of project – Pipelines • Perform an economic analysis on project.

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