Insight
Subsurface trends highlight North America’s conventional hydrocarbon recovery potential
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Report summary
North America’s hydrocarbon wealth comprises conventional and unconventional resources. Conventional fields make up 15% of the total remaining resources. The US leads in discovered and produced conventional resources while Canada still has substantial untapped potential. Most of North America’s remaining conventional resources lie in clastic reservoirs. Reservoir characteristics such as pressure, temperature and depth are crucial for resource recovery. Higher reservoir pressures and temperatures often correlate with larger remaining conventional resources. Recovery factors average 29% and 58% for conventional oil and gas resources, respectively. The average conventional offshore EUR per development well across North America is 16 mmboe. Major fields have significant remaining oil resources but may require enhanced recovery techniques to maximise output. Unlocking the full potential of undeveloped fields requires overcoming infrastructure and other critical challenges.
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