New York Paper - Petroleum Resources of Venezuela

While much geological work and drilling have been done in Venezuela, the incompleteness of geological evidence obtainable and the restricted areas in which drilling has been done make any estimates of oil resources extremely speculative. Nevertheless, it is felt that the data given are justified, in the belief that the ideas of a geologist familiar with the region are better than those of a promoter. The oldest beds of interest to oil men are those of the Cretaceous, which are well developed in eastern Venezuela and about parts of Lake Mara-caibo. In both cases, a hard massive limestone is overlain by a great thickness, most of which is shale. In the west, in places this shale is more than 2000 ft. (610 m.) thick, while in the east it-mag attain 3500 ft. (1067 m.). The limestone and parts of the shale are oil producing. In the east, the Tertiary where present is almost entirely covered by the Quarternary, but in the west it is well developed. In probable unconformity over the Cretaceous shales is found a series of sandstones and shales, which may be called the lower coal series. It is well developed southwest of the lake, where it is the oil container, and is probably the lowest series exposed east of the lake. Above this is the Pauji shale, which is probably the point of origin of all the oil east of Lake Maracaibo and in the State of Falcon. It has a thickness of about 3000 ft. (914 m.) in the Mene Grande region. The upper coal series is developed as a great thickness of sands, shales, and clays, with some partly consolidated limestone. Its thickness may be as great as 10,000 ft. It is the oil container of the Falcon-El Mene region and a probable location for oil in some of the area about the lake. It may or may not include the so-called Maracaibo series in which the oil is found at Mene Grande. Over much of Venezuela, the Quarternary is present in unknown thickness, which probably is not great. It obscures oil structure in all cases and presents the greatest hazard of oil exploration for the fields which probably exist below.