Proper Power & Energy Geologist Identifies Potential Giant Fields in Utah
Proper Power & Energy announced today Robert Dunbar, using his improved radiometric technology, Radiometric Plus, has identified potential Giant Fields in Utah. Proper Power & Energy holds an 11,000 acre lease in Utah with room for over 75 wells with an excellent chance for a "pay," according to Dunbar.
Robert Dunbar, Geologist, stated, "Based on Radiometric Plus, I predict a very high probability that Proper Power & Energy will be successful in hitting a large pay and potentially a giant field similar in size or larger than that of the Covenant field."
Giant oil and gas fields are considered those with 500 million barrels of ultimately recoverable oil or gas equivalent. Geoscientists believe these giants account for 40 percent of the world's petroleum reserves. Robert Dunbar has identified potential giant oil fields in Utah.
The central Utah thrust belt, or "Hingeline," has seen cycles of petroleum exploration for the past 50 years because explorers viewed the geology as a natural extension of productive thrust belt-style structures in northern Utah and southwestern Wyoming. Wolverine Gas & Oil Corp. lit a firestorm of interest in central Utah with its Covenant oil field discovery in Sevier County in 2004. Original estimates of Wolverine's Covenant field range from 75 million to 150 million barrels. According to data compiled by the Utah Geological Survey in 2005, Utah holds 493 million barrels of proved oil reserves (about 1.9 percent of the total U.S. onshore oil reserves). As oil prices remain above $50/barrel, it is predicted that oil exploration will increase in Utah and should dramatically increase the proven oil reserves in the state.