A new study has come out with contributions from the Bureau of Land Management, the Bureau of Ocean Energy Management and the U.S. Geological Survey stating there may be 50 trillion cubic feet of natural gas in addition to nearly 18 billion barrels of oil. These recoverable estimates included all different styles of ownership as well as on/off shore deposits; half the gas would be onshore and half of it offshore.
While the assessment was based off in part of estimates associated with certain geological features, the increase from a study just eight years ago can be somewhat contributed to changes in technology which allow for more oil or gas recovery from what is called “undiscovered” reserves. Geology, statistics and applied engineering all assist in making a North Slope or even Statewide inventory of what can be accessed in 2017.
While industry makes estimates on reserves for purposes of bidding on leases, they may take into account their own rates and amounts based on the technology they utilize and with their own geologists and methods. Often those will be proprietary. One thing is for sure though- since the U.S. Administration has been looking at a stronger energy dominance in the world markets, Alaska will yet be seen as a energy supply driver going forward.