Hi TShirt, I found this re the NSA area, are you able to define the technical information so that I will be able to understand it? I am of the thought that if I can understand it all others will.
Reading through a lot of information on CA and from the historical information the fall in oil prices in 1986 I suspect, will prove favourable to us with the advent of sophisticated technology improvements in extraction of oil.
On a personal note my interest lies in the rock formations, sand, API, extraction methods etc., as this will give me a better understanding of what it is.
NORTH SAN ARDO HEAVY OIL FIELD (SALINAS BASIN) The North San Ardo Field is located in Monterey County, California. Oil is reservoired in the Miocene age Monterey Formation (locally referred to as the Lombardi Sand) in the northern culmination of a large NW oriented anticline which hosts the giant San Ardo Heavy Oil Field. The field was discovered in November 1947 by Texaco, prior to discovery of the main San Ardo pool in July 1948. The pay zone is at a depth of approximately 2,100 feet with an average thickness of 51 feet, average porosity of 31% and permeability of 2 to 8 Darcies. The North San Ardo structure is interpreted to have 100 feet of closure with oil saturated sand above water. The oil-water contact is tilted (a characteristic common in the area) and plunges to the south; extending across a structural saddle into the San Ardo Field. The productive interval is massive deltaic sandstone, with the pay interval wedged by the bottom water associated with the tilted oil water contact and an unconformity at the top of the unit. The sand thins and is absent within half a mile of the field to the east where the unconformity is interpreted to fully truncate the reservoir. Ten productive vertical wells were drilled on the field between 1947 and 1963, producing over 300,000 barrels of heavy 11.6 API gravity oil under natural flow before field abandonment in 1986 during a period of significantly lower oil prices.
NEN Price at posting:
30.0¢ Sentiment: LT Buy Disclosure: Held