RE: GOBI Potential21 Feb 2025 08:00
Do not discount GOBI BEAR 1 34m of reservoir quality sandstones.
Below is a list of a few wells and fields that initially showed "no promise".
1. Spindletop (Lucas Gusher) - Texas, USA (1901)
Initial Promise: The Spindletop field was initially dismissed by many geologists as unpromising.
Outcome: The Lucas Gusher blew out in 1901, producing 100,000 barrels per day and marking the birth of the modern petroleum industry. It revolutionized oil exploration and production.
2. East Texas Oil Field (Daisy Bradford No. 3) - Texas, USA (1930)
Initial Promise: Wildcatter Columbus Marion "Dad" Joiner drilled multiple dry holes before striking oil.
Outcome: The Daisy Bradford No. 3 well revealed the massive East Texas Oil Field, one of the largest oil fields in the world, and helped sustain the U.S. during the Great Depression.
3. Prudhoe Bay Oil Field - Alaska, USA (1967)
Initial Promise: Early exploration in Alaska was considered uneconomical due to harsh conditions and logistical challenges.
Outcome: The discovery of the Prudhoe Bay field, the largest oil field in North America, transformed Alaska's economy and U.S. oil production.
4. Ghawar Field (Dammam No. 7) - Saudi Arabia (1938)
Initial Promise: Early drilling in Saudi Arabia yielded disappointing results, and Dammam No. 7 was nearly abandoned.
Outcome: The well struck oil in 1938, leading to the discovery of the Ghawar Field, the largest conventional oil field in the world.
5. Ekofisk Field - North Sea, Norway (1969)
Initial Promise: The North Sea was considered too harsh and uneconomical for oil exploration.
Outcome: The discovery of the Ekofisk Field by Phillips Petroleum marked the beginning of North Sea oil production, making Norway a major oil exporter.
6. Cantarell Field - Gulf of Mexico, Mexico (1976)
Initial Promise: The field was initially overlooked due to its location and depth.
Outcome: Discovered by a fisherman who noticed oil seeps, Cantarell became one of the largest offshore oil fields in the world.
7. Tengiz Field - Kazakhstan (1979)
Initial Promise: The Soviet Union initially underestimated the potential of the Tengiz Field due to its complex geology.
Outcome: Tengiz is now one of the deepest and largest oil fields in the world, with significant reserves.
8. Bakken Formation - North Dakota, USA (2000s)
Initial Promise: The Bakken Formation was considered too tight and uneconomical for traditional oil extraction.
Outcome: Advances in hydraulic fracturing and horizontal drilling turned the Bakken into one of the most prolific shale oil plays in the U.S.
9. Lula Field (Tupi Field) - Santos Basin, Brazil (2006)
Initial Promise: Deepwater exploration in the Santos Basin was considered too risky and expensive.
Outcome: The discovery of the Lula Field (originally Tupi) revealed massive pre-salt oil reserves, transforming Brazil into a major oil producer.
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