PetroTerra's initial project will be taking place in the central Utah portion of the Cordilleran Orogenic Belt1, the mountainous “chain” which runs from northern Alaska along western Canada, the United States mainland, and Central America. Created from plate tectonic activity between 140 and 50 million years ago,1 the belt has been a well-known oil and gas producer in Canada for several decades, and more recently, in the state of Utah. Discoveries along the thrust belt include 18 giant oil and gas fields (a giant field has proved reserves exceeding 500 million barrels of oil or 3 trillion cubic feet of gas2).
PetroTerra’s Sevier and Beaver Oil Prospects are located along the Central Utah Thrust Belt – the central Utah portion of the Cordilleran Orogenic Belt. The belt has been of interest in petroleum exploration for over 50 years, due to its geological similarities to other successful plays in Utah.3 Currently commercially viable plays in this region include Wolverine Gas and Oil’s Covenant and Providence Fields.
In a Evaluation and Prospective resources report dated March 5th 2014, Jeffrey B. Aldrich of MHA Petroleum Consultants, a practicing petroleum geologist/geophysicist, stated that the proven commercial play known to exist at the Sevier Prospect is Jurassic sandstone reservoirs, primarily the Navajo Formation, with Mississippian-sourced oil in duplex thrust structures.4
This play has been proven to be commercial at Covenant and Providence Fields, which lie 18 and 33 miles, respectively, to the northeast of PetroTerra’s Sevier Prospect.5
The MHA report concludes that PetroTerra’s Sevier Prospect is positioned in a favorable location along the Sevier Thrust in south central Utah, which could be prospective at many levels.6 The report goes on to say that “with a dedicated exploration program, one or more drillable prospects may be delineated on PetroTerra acreage.7