CALGARY, Alberta (March 13, 2024) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, the leading generative AI and energy-dedicated SaaS company, has released a report that assesses fracturing parameters and recovery enhancement within the Gulf of Mexico’s (GOM) Lower Tertiary play and analyzes project economics.
“Growth of oil production from the Gulf of Mexico depends on operators successfully developing reservoirs found in what the energy industry calls the Lower Tertiary geological trend,” said Marvin Ma, report author and a vice president at EIR. “Developing the resource is challenging because the reservoirs typically contain ultra-high pressure and low permeability, so modern drilling and fracturing technologies are critical to unleashing their potential.”
“The market is under-appreciating the role of hydraulic fracturing in the Gulf of Mexico — and its role in growing the Lower Tertiary play and potentially other offshore regions,” added Andy McConn, director and head of commercial intelligence at EIR.
Key takeaways:
- EIR estimates the Lower Tertiary play will lead the GOM’s oil expansion with a production compound annual growth rate of 22% between 2023 and 2028.
- Only four operators have fractured 27 wells in the past decade, representing half of the Lower Tertiary producer wells.
- EIR has found that three to five zones can be fractured for each well, with an average treatment time of two days per zone.
- For the Julia, Saint Malo and Stones fields, EIR believes estimated ultimate recovery (EURs) increase by 6-10 MMbbl/well after fracturing stimulation occurs.
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EIR’s analysis pulls from a variety of Enverus products including Enverus Intelligence® Research and Enverus Core®.
About Enverus Intelligence Research
Enverus Intelligence ® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts; and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. EIR is registered with the U.S. Securities and Exchange Commission as a foreign investment adviser. Enverus is the most trusted, energy-dedicated SaaS platform, offering real-time access to analytics, insights and benchmark cost and revenue data sourced from our partnerships to 98% of U.S. energy producers, and more than 35,000 suppliers. Learn more at Enverus.com.
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