ABSTRACT: The Ventura Basin Future Potential
Robert Hindle, Thomas Hopps, Howard Stark
The study covers approximately 1450 mi2 including all or parts of three on-shore basins. The geology of these basins is complex structurally and stratigraphically with major faults and multi-facies of sedimentary and volcanic rocks that range from Recent to Cretaceous in age. Reservoir and/or source rocks are present in all age units somewhere in this area.
The first well drilled for oil in California that yielded extended commercial production was completed in May 1867 within the area covered by the study. Two billion barrels of petroleum and over 3.5 tcf of gas have been produced within the last 123 yr. Statistically, it may be calculated that more than 2100 bbl of oil have been produced for every acre within the Ventura basin study area.
The deepest well drilled to date, at a total depth of 21500 ft, only penetrated a section of Miocene Monterey Formation.
Detailed subsurface geologic control, paleontological determinations, electric logs, and other downhole records can and will determine by interpretation and interpolation, the future potential of deep and new discoveries. The past production techniques of open-pit operations, drift mining, and primary and secondary methods have contributed to this energy base.
This mature basin has a future potential at depth, by extensions, and from undrained reservoirs within existing oil and gas fields as well as from undrilled new discoveries. These studies indicate the potential ranges from 500 million bbl to a possible maximum equal to or greater than all those reserves produced to date (2 billion bbl).
AAPG Search and Discovery Article #91003©1990 AAPG Annual Convention, San Francisco, California, June 3-6, 1990