Big Oil becomes Big Tech. . . . Conoco CTO talks Shale Tech . . . "We're drilling more wells and spending less" . . . "Yielding 20% of oil from well" doubling from single digits is unheard of . . Shale not going bust ITS CHANGING. Size now matters

[Falcon + 222]

https://www.bloomberg.com/news/videos/2019-05-17/conoco-s-cto-we-are-drilling-more-wells-spending-less-video

The naysayers say efficiency has plateaued.  Well yes if you only look at (1) drilling cost per ft , (2) amount of sand used in completion, (3) length of horizontals. These parameters are not decreasing in costs as fast as 2014 to 2016  This analysis completely ignores the following:

New Completion techniques.

Reservoir mapping.

Well (parent/child) placement.

Enhanced Oil Recovery (EOR)

Digitization.

Imagine what your breakeven drops to when your yield per well increases from 8 or 9% to TWENTY percent. 

CONOCO IS NOW YIELFIND YIELDING 20% in Eagleford.

They ceased drilling in the Permian to bring new tech and operations to that basin.  THE SHALE INDUSTRY WILL DOUBLE YIELD IN THE NEXT FEW YEARS !  If you can afford it.

 Adapt or :

MERGE  *  BE AQUIRED  *  GO UNDER 

 

 

 

 

Edited May 18, 2019 by Falcon