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Category: OilField

Permian operators increasingly target shale as new technology rejuvenates legacy oil field

August 08, 2014 Posted by Chris Wysong

Horizontal drilling development accounted for 55% of Permain basin spending last year - a telling statistic on the future of the legacy oil play. New technology, along with high oil prices, has rejuvenated Permian and shale formations previously thought to be uneconomic are turning out to be the future of this basin. In this article, UOGR explains how new technology is increasing production, why the shift is being made to horizontal drilling, and what that means for the industry. Permian operators increasingly target shale as new technology rejuvenates legacy oil field By: UOGR The old saying the best place to find oil is in an oil field is holding true in the Permian basin. Horizontal drilling last year overtook vertical drilling in the basin as new technology and high oil prices rejuvenated the legacy oil play and independent operators like Pioneer Natural Resources Co. and Approach Resources Inc. tapped into shale formations previously considered uneconomic. The Permian is

Posted in Shale, OilField, Technology
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