Friday, October 8, 2010

Shale Gas Drilling Techniques Revolutionize Oil Shale Drilling

Colorado based BENTEK Energy reports that horizontal drilling and hydraulic fracturing, which has revolutionized U.S. shale gas production and other unconventional plays, is also transforming the domestic crude oil industry. As a result, U.S. oil production is on the rise for the first time in 23 years.

In its new report, The Rush to Unconventional Oil, BENTEK notes that technologies are being used to unlock oil from shales in a number of plays such as the Bakken and Niobrara shales in the Rockies region, the Bone Springs/Wolfberry, Granite Wash and Eagle Ford plays in and around Texas and the liquids rich shales in the southwestern Marcellus.

The most explosive growth is occurring in the Bakken shale in North Dakota, where production has grown 79 percent in the past year, or 114,000 b/d, compared to the five-year average of 144,000 b/d, boosting North Dakota past Louisiana as the nation's fourth largest oil producing state. As a result, the project for Rockies oil production based on the current rig count indicates 19 percent growth next year to 717,000 b/d. The U.S. Geological Survey.....Read the entire article.


The "Super Cycle" in Gold and How It Will Effect Your Pocketbook in 2010

Share

No comments:

ShareThis