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Continental Confirms Springer Success
“Rigzone” reports that Continental Resources, Inc. has announced 4 more wells in the Springer shale play in the South Central Oklahoma Oil Province (SCOOP). The operator estimates that the Grady County wells will have an estimated ultimate recovery (EUR) of 940,000 barrels of oil equivalent each. The wells averaged a vertical depth of 12,625 feet… Read More
Significant Upside Potential for Enhanced Oil Recovery
“Rigzone” reports that consulting group Wood Mackenzie predicts that enhanced oil recovery (EOR) advances could add an additional 1.5-3 million barrels per day by 2030, an increase of 25%, according to their latest analysis. While this technology is not commercially available today, it is currently being tested by operators like EOG in the Eagle Ford… Read More
Proved Reserves: How Effective a Yardstick?
The July/August issue of A Shot of Texas Magazine has an excellent piece by renowned energy expert Daniel Yergin, “How Much Oil Is Really Down There?”. The article deals with calculating oil and gas reserves, and is summarized below. In response to the Arab Oil Embargo of 1973, the U. S. Congress instructed the Securities… Read More
North Dakota’s Bakken Shale Sets New Record
“Rigzone” reports that crude production from the Bakken shale set a new record of over 1 million barrels of oil per day (bopd) in April and May. Improved technology, a better understanding of the geology, higher crude prices and new wells all contributed toward achieving this milestone according to the U. S. Energy Information Administration.… Read More
Unconventional Oil and Gas Key to Production Increase in Lower 48
“Rigzone” cites a study by the consulting firm Wood Mackenzie which projects tight oil production in the lower 48 states rising to 6 million barrels of oil per day (bopd) by 2020, primarily from the Bakken, Eagle Ford and Wolfcamp plays. This would be approximately 2/3 of total forecast domestic production of 9 million bopd.… Read More
