The Past and Future Exploration Potential of The Deepwater Gulf of Mexico

David B. Meyer, Chevron North America Exploration and Production, 935 Gravier Street, New Orleans, La. 70112; David B. Rains, Geology and Geophysics, Texas A&M University, College Station, Tx. 77843

Abstract

An accurate assessment of risk and reserves is critical for the prudent investment of future plays in the Deepwater Gulf of Mexico. To achieve this, an understanding of drilled wells and trends is necessary. For this project, all wildcats in water depths greater than 400 meters (1,300 feet) were grouped into a specific tectonic setting, stratigraphic age, and trap style, which ensured meaningful statistical analyses. Tectonic settings included basins (extensional), foldbelts (compressional), Sigsbee Plain and subsalt. The major stratigraphic ages were Pleistocene, Pliocene, and Miocene, and the four possible trap styles were four-way anticline, three-way faulted structure, salt/shale truncation, and stratigraphic. At present, 88% of the wells have tested structures in basins with a 32% success rate, an average of 68 million boe/discovery totaling 7.5 billion boe reserves. The remaining 12% are in the subsalt (26 wells) and foldbelt (19 wells) tectonic settings. These have success rates of 27% and 26%, respectively. The subsalt has yielded 2 billion boe, averaging 285 million boe/discovery. The foldbelt has contributed 1.1 billion boe with an average of 230 million boe/discovery.