--> ABSTRACT: Biostratigraphy: Adding Value to the Exploration and Development Process, by William W. Clopine, H. Richard Lane, David Vork; #91020 (1995).

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Biostratigraphy: Adding Value to the Exploration and Development Process

William W. Clopine, H. Richard Lane, David Vork

Value adding biostratigraphic applications in the oil industry are extensive, but many are poorly understood and under utilized. Avoiding the paleontologic details, papers presented here will cite specific examples where and how biostratigraphy has added significant and measurable value. Examples range the gamut of the exploration/exploitation process.

Value can be measured in many ways: dollars earned, dollars saved, BOE's discovered, improved risk and more. Savings from reduced rig time, or added assets in equity negotiations are measurable ways biostratigraphy adds value. Over the long term, it also adds value in ways that are more difficult to measure, but even more important to the bottom line. Biostratigraphy adds significant value when applied in the earliest phases of exploration. Paleontology, by its nature, is a global science, which often utilizes a world perspective. Paleontologists often have access to personal contacts, providing a great deal of leverage in negotiations and areas of new entry. Biostratigraphic frameworks are indispensable for basin analysis studies. Paleontologically defined thermal maturation studies re a quick and inexpensive means of thermally high grading areas in advance of concession/lease sales. Few new play concepts will be generated without biostratigraphy's contribution. Successful exploration depends on understanding the timing of structure, depositional setting, thermal maturity, as well as other geologic factors. A biostratigraphic framework is still the only practical way to build the fourth dimension (time) into a geologic model. At the prospect generation phase of exploration, biostratigraphic and paleobathymetric results can define new leads and play fairways and better define prospect risks. On site paleontology can (1) provide cost saving, real time answers to depth/correlation questions, (2) confirm on track horizontal drilling in a reservoir more dependably and fo less money than MWD and, (3) pick the proper TD of a well, reducing rig time. Biostratigraphy is often utilized successfully in the post-appraisal process, especially when overlooked in the early phases of a project. In equity discussions, paleontologic data can be used as evidence to support the company position in judgments and negotiations by more clearly demonstrating detailed stratigraphic relationships.

By highlighting these applications with "real-life" examples, it is hoped that applied paleontology will move from being an under-utilized tool to a more widely accepted, integral part of any successful exploration or development program.

AAPG Search and Discovery Article #91020©1995 AAPG Annual Convention, Houston, Texas, May 5-8, 1995