Does anyone know anything about the new extraction method thought to be profitable even when oil is as low as $40? I think it has completed the testing phase. I’m wondering if this is part of why things are heating up in NE Colorado. What I’ve read pertains to western Co.
I think you’re right. My understanding is that the Niobrara play in NE CO is “unconventional”. They’ve known about it for a long time, but until very recently, they didn’t know how to effectively get to it. The oil wells are much more expensive, but they don’t need nearly as many. I think they are most effective when the horizontal branches extend out for about a mile, so generally I think they put in 1 well per 640 acres. My understanding is also that the Niobrara fractures easily.
Thanks, so much. You are really helpful. I’ve found a little more information on the process. The new extraction technology is called In-situ Conversion Process (ICP). It hugely accelerates the natural process of oil and gas maturation by slow sub-surface heating of petroleum source rock containing the precursor to oil and gas. Electric resistance heaters are inserted in holes and the subsurface is heated to 600-750 F over a 3 or 4-year period. Sounds a bit sci-fi, but they say it results in the production of 65-70% of the original “carbon” in place in the subsurface. Apparently Shell carried out small field tests in Rio Blanco over a period of 20 years. The latest test produced more than 1400 barrels of light oil plus associated gas from a very small test plot. Are we talking about the samle thing?
I don’t know if we’re talking about the same thing or not, but would venture to guess we are.
penny rudolph said:
Thanks, so much. You are really helpful. I’ve found a little more information on the process. The new extraction technology is called In-situ Conversion Process (ICP). It hugely accelerates the natural process of oil and gas maturation by slow sub-surface heating of petroleum source rock containing the precursor to oil and gas. Electric resistance heaters are inserted in holes and the subsurface is heated to 600-750 F over a 3 or 4-year period. Sounds a bit sci-fi, but they say it results in the production of 65-70% of the original “carbon” in place in the subsurface. Apparently Shell carried out small field tests in Rio Blanco over a period of 20 years. The latest test produced more than 1400 barrels of light oil plus associated gas from a very small test plot. Are we talking about the samle thing?