Oil Shale and Tar Sand Resources Resources Vs

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Oil Shale and Tar Sand Resources Resources vs. Reserves • Resources – Naturally occurring concentrations or deposits of a mineral resource in the earth's crust, in such forms and amounts that economic extraction is currently or potentially feasible • Reserves – Parts of the resource base which could be economically extracted or produced at the time of determination considering environmental, legal, and technologic constraints Oil Shale • Definition: fine-grained sedimentary rocks containing relatively large amounts of organic matter from which significant amounts of shale oil and combustible gas can be extracted by destructive distillation. • Generally considered to be oil and gas “source material” or an immature oil and gas deposit Oil Shale Resources • U.S. Primary Resources in Green River Formation in Wyoming, Utah, and Colorado • Green River Formation estimated to contain over 2 trillion barrels of oil • Equivalent to 1 to 2 times total world oil reserves Impediments to Oil Shale Development • Economic – Current Costs > $60 per barrel • Environmental – Global warming and greenhouse gas emissions – Disposal of spent shale – Process requires water • Regulatory – U.S. presently has no regulations to lease oil shale Tar Sands • Definition: A type of oil sand or sandstone from which the lighter fractions of crude oil have escaped, leaving a residual asphalt to fill the interstices Utah Tar Sand Estimated In-Place Resources Deposit Known (MMB) Additional Projected (MMB) Sunnyside 4,400 1,700 Tar Sand Triangle 2,500 420 PR Spring 2,140 2,230 Asphalt Ridge 820 310 Circle Cliffs 590 1,140 Other 1,410 1,530 Total: 11,860 7,330 Impediments to Tar Sand Development • Economics – cost to mine and produce more expensive than conventional oil production • Some of same environmental concerns as oil shale • Federal deposits previously leased with oil and gas as Combined Hydrocarbon Leases.

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Oil Shale and Tar Sands
Fundamentals of Materials for Energy and Environmental Sustainability Editors David S. Ginley and David Cahen Oil shale and tar sands James W. Bunger 11 JWBA, Inc., Energy Technology and Engineering, Salt Lake City, UT, USA 11.1 Focus 11.2 Synopsis Tar sands and oil shale are “uncon- Oil shale and tar sands occur in dozens of countries around the world. With in-place ventional” oil resources. Unconven- resources totaling at least 4 trillion barrels (bbl), they exceed the world's remaining tional oil resources are characterized petroleum reserves, which are probably less than 2 trillion bbl. As petroleum becomes by their solid, or near-solid, state harder to produce, oil shale and tar sands are finding economic and thermodynamic under reservoir conditions, which parity with petroleum. Thermodynamic parity, e.g., similarity in the energy cost requires new, and sometimes of producing energy, is a key indicator of economic competitiveness. unproven, technology for their Oil is being produced on a large commercial scale by Canada from tar sands, recovery. For tar sands the hydrocar- and to a lesser extent by Venezuela. The USA now imports well over 2 million barrels bon is a highly viscous bitumen; for of oil per day from Canada, the majority of which is produced from tar sands. oil shale, it is a solid hydrocarbon Production of oil from oil shale is occurring in Estonia, China, and Brazil albeit on called “kerogen.” Unconventional smaller scales. Importantly, the USA is the largest holder of oil-shale resources. oil resources are found in greater For that reason alone, and because of the growing need for imports in the USA, quantities than conventional petrol- oil shale will receive greater development attention as petroleum supplies dwindle.
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Secure Fuels from Domestic Resources ______Profiles of Companies Engaged in Domestic Oil Shale and Tar Sands Resource and Technology Development
5th Edition Secure Fuels from Domestic Resources ______________________________________________________________________________ Profiles of Companies Engaged in Domestic Oil Shale and Tar Sands Resource and Technology Development Prepared by INTEK, Inc. For the U.S. Department of Energy • Office of Petroleum Reserves Naval Petroleum and Oil Shale Reserves Fifth Edition: September 2011 Note to Readers Regarding the Revised Edition (September 2011) This report was originally prepared for the U.S. Department of Energy in June 2007. The report and its contents have since been revised and updated to reflect changes and progress that have occurred in the domestic oil shale and tar sands industries since the first release and to include profiles of additional companies engaged in oil shale and tar sands resource and technology development. Each of the companies profiled in the original report has been extended the opportunity to update its profile to reflect progress, current activities and future plans. Acknowledgements This report was prepared by INTEK, Inc. for the U.S. Department of Energy, Office of Petroleum Reserves, Naval Petroleum and Oil Shale Reserves (DOE/NPOSR) as a part of the AOC Petroleum Support Services, LLC (AOC- PSS) Contract Number DE-FE0000175 (Task 30). Mr. Khosrow Biglarbigi of INTEK, Inc. served as the Project Manager. AOC-PSS and INTEK, Inc. wish to acknowledge the efforts of representatives of the companies that provided information, drafted revised or reviewed company profiles, or addressed technical issues associated with their companies, technologies, and project efforts. Special recognition is also due to those who directly performed the work on this report. Mr. Peter M. Crawford, Director at INTEK, Inc., served as the principal author of the report.
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The Shale Revolution and the Dynamics of the Oil Market
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