Abstract
The Minerals Management Service (MMS) and the US Geological Survey (USGS) are preparing to publish a joint assessment of the nation's petroleum resources. The MMS is responsible for the assessment of offshore resources of the outer continental shelf (OCS) and exclusive economic zone (EEZ) as part of the MMS leasing mission. A study of the resource assessment methodology of the MMS by the National Academy of Sciences recommended that the size of the smallest field assessed by specified when resource estimates are reported. For the joint MMS/USGS assessment, MMS will estimate an undiscovered resource base above a minimum field size of 1 million BOE for all OCS/EEZ areas. Estimates are also being prepared for undiscovered, economically recoverable resources which employ various minimum field size cutoffs as a function of price/cost relationships, economic projections, and other factors. Both types of estimates use the updated PRESTO III computer-based model to simulate repeated drilling programs of prospect distributions (plays) mapped using proprietary seismic data. Hypothetical, speculative, and stratigraphic-type plays are also modeled using input prospect or field size distributions.
Published Version
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