Posted May 19, 2015
Fracking Technology Could Unlock Billions of Barrels of Oil Worldwide
Oil and Gas Investor: The technology that fueled the U.S. shale revolution could breathe new life into old oil fields outside of North America.
More than 170 mature oil plays worldwide have the potential from horizontal drilling and hydraulic fracturing to produce as much as 141 billion barrels (Bbbl) of oil, according to an IHS report on May 13.
Of the estimated 141 Bbbl of potentially recoverable oil using unconventional techniques, 135 Bbbl exist in plays that would likely require hydraulic fracture stimulation to produce. Roughly 6 Bbbl sit in plays that may not require hydraulic fracturing.
Read more: http://bit.ly/1Kigqwl
More industry news:
- Eagle Ford Drilling Will Get a Lot Cheaper by Mid-2016 – Analysts: http://bit.ly/1S72Yhi
- Texas Prohibits Local Fracking Bans (subscription required): http://on.wsj.com/1AcRR0C
- Opinion – Fracking Blameless in California’s Water Woes: http://bit.ly/1Fm4V2t
- Column – Oil Volatility Fades as Risks Become More Balanced: http://reut.rs/1EhpCJb
- ExxonMobil - LNG Imports or Unconventional Gas to Meet About Half of Global Natural Gas Demand by 2040: http://exxonmobil.co/1S7UN4c
ABOUT THE AUTHOR
Mark Green joined API after a career in newspaper journalism, including 16 years as national editorial writer for The Oklahoman in the paper’s Washington bureau. Mark also was a reporter, copy editor and sports editor. He earned his journalism degree from the University of Oklahoma and master’s in journalism and public affairs from American University. He and his wife Pamela live in Occoquan, Va., where they enjoy their four grandchildren.