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To: taxcontrol

It certainly isn’t as commonly used, but I suspect it is used in all the countries you mentioned.

Remember, hydraulic fracturing isn’t new. It has been used since the 1940s.

Steerable directional drilling is the newer technology, which combined with hydro fracs, made the shale economical to produce.

Hydro frac tech has advanced significantly and is used more in the US than anywhere else, but it is used world wide and has been for a long time.

For example:

Successful Hydraulic Fracturing through Optimization Steps for High Rate Deep Gas Wells in Carbonate Reservoirs, Saudi Arabia
https://www.onepetro.org/conference-paper/SPE-81585-MS
Publication Date 2003


36 posted on 01/27/2016 7:18:53 AM PST by thackney (life is fragile, handle with prayer)
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To: thackney

So based on that, I am speculating that oil and gas production will remain high over the next few years. Further, a rise in oil price will work to increase the number of sites that can either return to production or open new wells. I further assume that there will be additional improvements in the technology so that it will either be more efficient or lower cost.

The net effect that I see is making it much harder for multi year significant increases in oil price. I see $20 per barrel as the low end and $40 for the upper end for quite some time - decade perhaps.


38 posted on 01/27/2016 7:36:41 AM PST by taxcontrol ( The GOPe treats the conservative base like slaves by taking their votes and refuses to pay)
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To: thackney

“Steerable directional drilling is the newer technology, which combined with hydro fracs, made the shale economical to produce.”

Nitpicking here, but the shales are generally not what is produced. This is widely misunderstood.

The shales are the source rocks indeed and sometimes can be produced, but generally it is rocks in the area, typically carbonates, that are the zone drilled and completed into.

Neither the Bakken or the Eagleford production comes from shales.

I am most familiar with the Bakken. The Bakken shale used to be the target but it was not fraccable due to its plasticity. After years of efforts, it was not until someone thought about the brittle carbonate zone between the upper and lower Bakken shales did the boom come to ND.

Targeting that zone made all the difference. It is unknown, but there is likely leakage from the shales into the carbonate zone that contributes to some of the production so yes, the shale there might be part of the production, but is definitely not the target of interest.


57 posted on 01/27/2016 11:51:20 AM PST by doldrumsforgop
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