This task conducts research to characterize or evaluate the economics of developing technologies or markets in geologic resources. Such research can analyze the relative risks, costs, and benefits from the utilization and not just the extraction of underground resource. Economic analysis builds upon the geologic resource assessment work by other tasks in the Utilization of Carbon and other Energy Gases – Geologic Research and Assessments project.
The objectives of this task are to conduct relevant research needed to:
- Develop pressure-limited dynamic models for regional CO2 storage assessments and economic evaluations
- Characterize and compare the full costs of supply of anthropogenic CO2 to EOR projects to full costs of the development and delivery of new sources of natural CO2
- Work with the geologic energy storage task in the development of characterization and screening criteria so results of proposed assessment is amenable to economic analysis
- Evaluate the economic limitations; relative risks, costs, and benefits; and other issues with current and potential methods and technologies for developing and utilizing reservoir thermal energy storage (RTES) resources
- Modify and update existing models to be able to contribute economic analyses of potential development of coal mine methane and abandoned mine methane production projects
Below are other science projects associated with this project.
Utilization of Carbon and other Energy Gases - Geologic Research and Assessments
Geologic Energy Storage
Economics, Energy Resources, and Future Energy Supply
Assessing Emissions from Active and Abandoned Coal Mines
Induced Seismicity Associated with Carbon Dioxide Geologic Storage
Geologic Carbon Dioxide and Energy-related Storage, Gas Resources, and Utilization
Methodology Development and Assessment of National Carbon Dioxide Enhanced Oil Recovery and Associated Carbon Dioxide Storage Potential
Below are multimedia items associated with this project.
Below are publications associated with this project.
Decision analysis and CO2–Enhanced oil recovery development strategies
Estimating market conditions for potential entry of new sources of anthropogenic CO2 for EOR in the Permian Basin
Improving pressure-limited CO2 storage capacity in saline formations by means of brine extraction
Estimating the pressure-limited dynamic capacity and costs of basin-scale CO2 storage in a Saline Formation
Estimating the pressure-limited CO2 injection and storage capacity of the United States saline formations: Effect of the presence of hydrocarbon reservoirs
Economics, helium, and the U.S. Federal Helium Reserve: Summary and outlook
Case study - Dynamic pressure-limited capacity and costs of CO2 storage in the Mount Simon sandstone
Using CO2 Prophet to estimate recovery factors for carbon dioxide enhanced oil recovery
Cost implications of uncertainty in CO2 storage resource estimates: A review
Risk, liability, and economic issues with long-term CO2 storage—A review
Play-level distributions of estimates of recovery factors for a miscible carbon dioxide enhanced oil recovery method used in oil reservoirs in the conterminous United States
A strategy for low cost development of incremental oil in legacy reservoirs
- Overview
This task conducts research to characterize or evaluate the economics of developing technologies or markets in geologic resources. Such research can analyze the relative risks, costs, and benefits from the utilization and not just the extraction of underground resource. Economic analysis builds upon the geologic resource assessment work by other tasks in the Utilization of Carbon and other Energy Gases – Geologic Research and Assessments project.
The objectives of this task are to conduct relevant research needed to:
- Develop pressure-limited dynamic models for regional CO2 storage assessments and economic evaluations
- Characterize and compare the full costs of supply of anthropogenic CO2 to EOR projects to full costs of the development and delivery of new sources of natural CO2
- Work with the geologic energy storage task in the development of characterization and screening criteria so results of proposed assessment is amenable to economic analysis
- Evaluate the economic limitations; relative risks, costs, and benefits; and other issues with current and potential methods and technologies for developing and utilizing reservoir thermal energy storage (RTES) resources
- Modify and update existing models to be able to contribute economic analyses of potential development of coal mine methane and abandoned mine methane production projects
- Science
Below are other science projects associated with this project.
Utilization of Carbon and other Energy Gases - Geologic Research and Assessments
Carbon Dioxide (CO2) is utilized by industry to enhance oil recovery. Subsurface CO2 storage could significantly impact reduction of CO2 emissions to the atmosphere, but the economics and potential risks associated with the practice must be understood before implementing extensive programs or regulations. Utilization of other energy-related gases such as helium (He), if separated and concentrated...Geologic Energy Storage
The United States (U.S.) domestic energy supply increasingly relies on natural gas and renewable sources; however, their efficient use is limited by supply and demand constraints. For example, a) in summer, natural gas production may outpace home heating fuel demand and b) in daytime, wind and solar electricity production may outpace industrial power requirements. Storing rather than dumping...Economics, Energy Resources, and Future Energy Supply
The members of this project have prepared a number of analyses that constitute the economic components of energy resource assessments. They have also proposed enhancements to geologic assessment data and methods that make results of assessments immediately amenable to economic analysis. In addition, they apply theoretically sound valuation methodologies to assess the commercial value of currently...Assessing Emissions from Active and Abandoned Coal Mines
The gas emission zone liberates and accumulates significant amounts of coal mine methane as a by-product of active mining. In most active mines, coal mine methane is controlled by wellbores, called gob gas ventholes. Despite the presence of these wellbores, it is not possible to capture all of the methane generated within the gas emission zone. As a consequence, a large amount of gas migrates into...Induced Seismicity Associated with Carbon Dioxide Geologic Storage
As a national science agency, the USGS is responsible for assessing hazards from earthquakes throughout the United States. The USGS studies induced seismicity across the spectrum of energy issues: carbon sequestration, geothermal energy, and conventional and unconventional oil and gas. In the central and eastern United States, earthquakes induced by fluid injection activities contribute...Geologic Carbon Dioxide and Energy-related Storage, Gas Resources, and Utilization
The objectives of this task are to conduct relevant research needed to 1) evaluate helium (He) and CO2 resources; 2) support future assessments of low-thermal gases and better understand their resources and potential for use as analogues for anthropogenic CO2 storage; 3) study the feasibility of large-scale CO2 mineralization in the United States; 4) develop pressure-limited dynamic models for...Methodology Development and Assessment of National Carbon Dioxide Enhanced Oil Recovery and Associated Carbon Dioxide Storage Potential
The objective of this research task is to conduct a national assessment of recoverable oil related to CO2 injection. The amount of CO2 stored (utilized) during the hydrocarbon recovery process will also be evaluated. - Multimedia
Below are multimedia items associated with this project.
- Publications
Below are publications associated with this project.
Filter Total Items: 14Decision analysis and CO2–Enhanced oil recovery development strategies
This paper analyzes the relationship between actual reservoir conditions and predicted measures of performance of carbon dioxide enhanced oil recovery (CO2–EOR) programs. It then shows how CO2–EOR operators might maximize the value of their projects by approaching implementation using a “flexible selective” pattern development strategy, where the CO2–EOR program patterns are selectively developedEstimating market conditions for potential entry of new sources of anthropogenic CO2 for EOR in the Permian Basin
This study attempts to determine feasible carbon dioxide (CO2) price thresholds for entry of new sources of anthropogenic (man-made) CO2 for utilization in enhanced oil recovery (EOR) in the Permian Basin. Much of the discussion about carbon capture, utilization, and storage (CCUS) has focused on the high costs of carbon capture as the major barrier to entry of new anthropogenic sources of CO2 forImproving pressure-limited CO2 storage capacity in saline formations by means of brine extraction
The carbon dioxide (CO2) storage capacity of saline formations may be constrained by reservoir pressure limitations. Brine extraction could be necessary to increase the CO2 storage capacity of a given formation, manage the extent of the underground CO2 plume and induced pressure front, and control the migration direction. To estimate the additional CO2 storage capacity of a saline formation that cEstimating the pressure-limited dynamic capacity and costs of basin-scale CO2 storage in a Saline Formation
Deployment of carbon capture and storage (CCS) could be necessary to be able to satisfy baseload electricity demand, maintain diversity in the energy mix, and achieve mitigation of carbon dioxide (CO2) emissions at lowest cost (IPCC, 2015; U.S. DOE, 2016). If basin-, regional- or national-scale deployment of CCS is needed, it may be possible to store only a small fraction of the captured CO2 in oiEstimating the pressure-limited CO2 injection and storage capacity of the United States saline formations: Effect of the presence of hydrocarbon reservoirs
The U.S. Geological Survey (USGS) national assessment of carbon dioxide (CO2) storage capacity evaluated 192 saline Storage Assessment Units (SAUs) in 33 U.S. onshore sedimentary basins that may be utilized for CO2 storage (see USGS Circular 1386). Similar to many other available models, volumetric analysis was utilized to estimate the initial CO2injection and storage capacity of these SAUs basedEconomics, helium, and the U.S. Federal Helium Reserve: Summary and outlook
In 2017, disruptions in the global supply of helium reminded consumers, distributors, and policy makers that the global helium supply chain lacks flexibility, and that attempts to increase production from the U.S. Federal Helium Reserve (the FHR) may not be able to compensate for the loss of one of the few major producers in the world. Issues with U.S. and global markets for helium include inelastCase study - Dynamic pressure-limited capacity and costs of CO2 storage in the Mount Simon sandstone
Widespread deployment of carbon capture and storage (CCS) is likely necessary to be able to satisfy baseload electricity demand, to maintain diversity in the energy mix, and to achieve climate and other objectives at the lowest cost. If all of the carbon dioxide (CO2) emissions from stationary sources (such as fossil-fuel burning power plants, and other industrial plants) in the United States needUsing CO2 Prophet to estimate recovery factors for carbon dioxide enhanced oil recovery
IntroductionThe Oil and Gas Journal’s enhanced oil recovery (EOR) survey for 2014 (Koottungal, 2014) showed that gas injection is the most frequently applied method of EOR in the United States and that carbon dioxide (CO2 ) is the most commonly used injection fluid for miscible operations. The CO2-EOR process typically follows primary and secondary (waterflood) phases of oil reservoir development.Cost implications of uncertainty in CO2 storage resource estimates: A review
Carbon capture from stationary sources and geologic storage of carbon dioxide (CO2) is an important option to include in strategies to mitigate greenhouse gas emissions. However, the potential costs of commercial-scale CO2 storage are not well constrained, stemming from the inherent uncertainty in storage resource estimates coupled with a lack of detailed estimates of the infrastructure needed toRisk, liability, and economic issues with long-term CO2 storage—A review
Given a scarcity of commercial-scale carbon capture and storage (CCS) projects, there is a great deal of uncertainty in the risks, liability, and their cost implications for geologic storage of carbon dioxide (CO2). The probabilities of leakage and the risk of induced seismicity could be remote, but the volume of geologic CO2 storage (GCS) projected to be necessary to have a significant impact onPlay-level distributions of estimates of recovery factors for a miscible carbon dioxide enhanced oil recovery method used in oil reservoirs in the conterminous United States
In a U.S. Geological Survey (USGS) study, recovery-factor estimates were calculated by using a publicly available reservoir simulator (CO2 Prophet) to estimate how much oil might be recovered with the application of a miscible carbon dioxide (CO2) enhanced oil recovery (EOR) method to technically screened oil reservoirs located in onshore and State offshore areas in the conterminous United States.A strategy for low cost development of incremental oil in legacy reservoirs
The precipitous decline in oil prices during 2015 has forced operators to search for ways to develop low-cost and low-risk oil reserves. This study examines strategies to low cost development of legacy reservoirs, particularly those which have already implemented a carbon dioxide enhanced oil recovery (CO2 EOR) program. Initially the study examines the occurrence and nature of the distribution of