holbrook-basin-helium-project-5-02-015

Oil Reserve Potential

  • The reserve potential of the Manuel Seep is of an enormous magnitude. Based on Devonian oil production in the Lisbon and Walker Creek Fields (AZ), Devonian oil reserves could be 295,000 barrels per well. The Manuel Seep contains 172 locations on 80 acre spacing (oil) that provides a Devonian oil potential of approximately 50,000,000 barrels. The spacing for gas wells in Arizona is 640 acres that provides for 22 gas wells or a total Devonian natural gas potential of 2.1 trillion cubic feet of natural gas. Penn reserves of at least 1 billion cubic feet of natural gas per 160 acre spacing were calculated by Sumatra Energy from logs run in their well on the Concho structure that extrapolate potential natural gas reserves of 4 BCF per 640 acres. The Permian Supai oil reserves based on volumetric calculations using the porosities encountered by Ridgeway Petroleum and PetroSun allow for 553,900 barrels of oil per 40 acres and/or 1.9 BCF of natural gas per 640 acres. The Permian Coconino potential oil reserves based on the Boundary Butte Field equate to 330,000 barrels of oil per 40 acre spacing.