The greater Anadarko Basin, a prolific source of conventional U.S. oil and gas production since the 1950s, holds an estimated 16 billion barrels of oil and more than 200 trillion cubic feet (TCF) of gas in un-risked technically recoverable resources in unconventional reservoirs, according to new energy research from IHS Markit, a provider of critical information, analytics and solutions.
“The Anadarko Basin has long been a major contributor to U.S. production, but it is just getting started in terms of delivering on its unconventional production potential,” said John Roberts, executive director, global subsurface operations and co-author of the IHS Markit Anadarko Basin research with Prithiraj Chungkham, director of unconventional resources. “We are now witnessing a new kind of Oklahoma land rush. But unlike what happened in 1889 when lands were opened to settlement, this time the competition is for access to the energy resources that lie below the surface,” Roberts said.
The IHS Markit analysis shows that the basin is pushing toward new all-time production highs long after conventional oil and gas production peaked in the 1970s and 1980s, respectively. Horizontal drilling in the Anadarko Basin has increased sharply since 2008, and annual basin production volumes have already set new peak records. (By Zachary Frazier, RPL, Oklahoma Minerals)