The Paradox Fold and Fault Belt, located in the northern part of the MtPA, encompasses only fiveoil and gas fields: 1) Lisbon, which straddles the northern MtPA border; 2) Lightning Draw; 3) Lightning Draw SE; 4) Wildcat; and 5) Paiute Knoll (Map 22). Production from the DevonianMcCracken Sandstone Member of the Elbert Formation first occurred in the Lisbon field, which was discovered in 1960 with the completion of the Pure Oil Lisbon No. 1 NW Lisbon well. Drilled to a depth of 8,442 feet, this well produced 587 barrels of oil per day from the McCracken reservoir. Later, uphole testing in the Mississippian Leadville Limestone resulted in the discovery of a giant oil and gas accumulation, which has resulted in approximately 90% of the oil produced from the Leadville Limestone.Both oil and gas filled the Leadville structure almost to the structural spill point and has produced a reported 51,076,593 barrels of oil and 761,560,184 thousand cubic feet (Mcf) of gas. Both the McCracken and Leadville reservoirs contain high concentrations of hydrogen sulfide (H2S), as well as nitrogen, carbon dioxide, sulfur, and helium. Two separate structures, one shallow with surface expression and one deep, exist in the Lisbon Valley area. A combination of subsurface geologic mapping and seismic surveys were employed to identify the deeper structure, which turned out to be a faulted anticline that trapped hydrocarbons in both the McCracken Sandstone and Leadville Limestone reservoirs.
Appears we could still have a lot more to come imo.
GDN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
