Historical production trends suggest remaining upside for E&D in Michigan

In spite of being a small player on the world petroleum stage, Michigan has attracted considerable attention over the years and continues to be a haven for companies searching for oil and gas prospects with reserves on the order of 500,000-1 million bbl of oil equivalent.Recent jumps in commodity prices to nearly $60/bbl for oil and $7/Mcf for gas may further lower economic thresholds for prospects and development projects in the state. It seems reasonable that a high number of 1 million bbl and smaller fields and perhaps a few multimillion barrel fields or plays remain to be discovered. Click here to enlarge imageIn this article, we present newly compiled historical production data and ...

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