Petroleum reserves
Since the US arrested and removed Venezuelan President Nicolás Maduro on 3 January 2026, all eyes have turned toward the country’s vast oil reserves, the largest of any country. From 2005 to 2024, oil production in Venezuela fell by 70%, from 3.1 million B/D to just 0.9 million B/D. The race is on to bring production back, but aging infrastructure and expatriation pre…
The three featured papers illustrate how emerging computational methods—ranging from gradient-based optimization to data-driven proxies—are reshaping reservoir characterization, uncertainty assessment, and real-time decision support across diverse subsurface applications.
Latest 5-year assessment puts undiscovered technically recoverable gas resources on the US Outer Continental Shelf at 218 Tcf.
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Despite an abundance of discovered resources, most companies are still running at unsustainable reserves replacement levels, necessitating further investment in exploration of conventional and unconventional reservoirs. -
Projections of future production in the Permian Basin may came up short because new wells drilled near older ones are likely to yield less.
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Despite a decline in oil and gas production and a decrease in revenue from 2015, an Ernst & Young’s study had a cautiously optimistic outlook as the industry adjusts to what it called “the new normal” of a lower, but stable, oil price.
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Governments, companies, service providers, and many other stakeholders in the industry have realized the oil-price outlook may remain low for longer than expected and the need to plan accordingly.
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This paper presents approaches for proper risking of uncertain recoverable volumes for an unconventional resource, taking into account the chance of false positives from appraisal-well information.
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Compared to oil in the ground, the sun looks like a limitless energy source. Making comparisons of the two by calculating the equivalent of barrels of reserves for a solar project seems like an odd notion, but experts say it can and should be done.
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In this work, the authors perform automatic decline analysis on Marcellus Shale gas wells and predict ultimate recovery for each well.
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In this work, the authors perform automatic decline analysis on Marcellus Shale gas wells and predict ultimate recovery for each well.
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The authors present a geology-driven deep-learning estimated-ultimate-recovery (EUR)-prediction model for multistage hydraulically fractured horizontal wells in tight gas and oil reservoirs.
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In drawdown management, operators can exert control over the downhole flow pressure, reservoir pressure, and choke size to avoid estimated ultimate recovery (EUR) losses.
