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Exxon: New Fracking Technology Can Double Oil Output
The U.S. shale revolution dramatically reshaped the world energy markets. The shale boom was one of the most impressive growth stories, from take off in 2008 to the Permian stealing the mantle from Saudi Arabia’s Ghawar as the world’s highest producing oilfield in a little over a decade. Overall, Reuters has estimated that, “U.S. petroleum production is at least 10-11 million bpd higher than it would have been without horizontal drilling and hydraulic fracturing.’’
Unfortunately, the shale patch has lately been struggling to ramp up production due to a litany of challenges including pressure from investors to boost returns, limited equipment and workers as well as a lack of capital.
But shale giant ExxonMobil is now betting that shale producers can double crude output from their existing wells by employing novel fracking technologies.
“There’s just a lot of oil being left in the ground. Fracking’s been around for a really long time, but the science of fracking is not well understood,” Exxon Chief Executive Officer Darren Woods said Thursday at the Bernstein Strategic Decisions conference. Woods has revealed that Exxon is currently working on two specific areas to improve fracking. First off, the company is trying to frack more precisely along the well so that more oil-soaked rock gets drained. It’s also looking for ways to keep the fracked cracks open longer so as to boost the flow of oil.
Shale Refracs
Luckily, the U.S. Shale Patch won’t have to wait for Exxon to perfect its new fracking technologies. There’s already a proven technology for oil producers to return to existing wells and give them a second, high-pressure blast to increase output for a fraction of the cost of finishing a new well: shale well refracturing.
Refracturing is an operation designed to restimulate a well after an initial period of production, and can restore well productivity to near original or even higher rates of production as well as extend the productive life of a well. Re-fracking can be something of a booster shot for producers–a quick increase in output for a fraction of the cost of developing a new well.
While refracturing has never really gone mainstream, the technique is seeing higher adoption as drilling technology improves, aging oilfields erode output, and companies try to do more with less. According to a report published in the Journal of Petroleum Technology, new research from the Eagle Ford Shale in south Texas shows that refractured wells using liners are even capable of outperforming new wells despite the latter benefiting from more modern completion designs.
JPT also estimates that North Dakota’s Bakken Shale straddles some 400 openhole wells capable of generating an excess of $2 billion if refractured. Mind you, that estimate is derived from oil prices at $60/bbl vs. this year’s average oil price of almost $90/bbl. According to Garrett Fowler, chief operating officer for ResFrac, a refrac can be up to 40% cheaper than a new well and double or triple oil flows from aging wells.
How Refracs Work
Fowler says the most common re-frac method involves placing a steel liner inside the original well bore and then blasting holes through the steel casing to access the reservoir. The process typically uses half as much steel and frac sand than a new well
Refrac makes a lot of sense in the current inflationary environment. Back in April, Texas shale producer Callon Petroleum Company (NYSE: CPE) revealed that frac sand, drill pipe and labor costs have increased drilling and well-completion service costs ~20% Y/Y. Callon and Hess Corp. (NYSE: HES), both of which drill in North Dakota’s Bakken shale, have been forced to hike capital spending budgets over the costs with Callon adding $75 million to its original budget while Hess added $200 million to its spending,
“Techniques like re-fracturing will allow the industry to continue to harvest the oil and gas out of these reservoirs,” said Stephen Ingram, a regional vice president at hydraulic fracturing firm Halliburton Company (NYSE: HAL).
Another key benefit: re-fracs do not require additional state permits or new negotiations with landowners. They are also less disruptive to the environment because well sites already have road access.
“Considering inflation, supply chain issues, and rising wages, now is a great time for operators to start looking at wells for re-frac opportunities,” Matt Johnson, CEO of energy consultancy Primary Vision Network, has told Reuters.
Refracs have also demonstrated higher recovery rates: in URTeC 3724057, Roberta Barba, a longtime completions consultant and CEO of Houston-based Integrated Energy Services, et al. share a case study from the Eagle Ford Shale in south Texas involving five refractured wells. The refractured wells had a combined average post-refrac EUR of 13.2% compared to an initial EUR of 7.4% average by seven new infill wells with modern completion designs.
Robert Barba, a longtime completions consultant and CEO of Houston-based Integrated Energy Services (IES).Estimated ultimate recovery (EUR) refers to potential production expected from an oil well or deposit and is made up of three components: proven reserves; probable reserves; and possible reserves.
The Authors of the paper say that despite the presumed advantages of a modern completion, refracs can increase stimulated reservoir volume “beyond what is achievable in a new completion”. This is attributed to the fact that as the reservoir depletes and pore pressure drops, fractures from a refrac tend to grow into a new direction and tap previously inaccessible portions of rock.
Niche Market
Despite these seemingly clear benefits, it’s surprising that refrac remains a fringe tech in the U.S. Shale Patch. Norwegian energy consultancy Rystad Energy has estimated that out of all the U.S. horizontal well stimulations performed through September, out of the 8,900 total stimulations from January to September, only 200, or a little over 2%, were refractured wells. The vast majority were in the Permian Basin spanning Texas and New Mexico and involved wells drilled before 2018. Rystad estimates that the count will rise to ~400 refracs by year’s end, or a little over 3% of total completions and comparable to last year’s final tally of 409 refracs.
“It’s a very niche market. The companies that are doing it are probably going to continue to do it, but I don’t think refracs are going to explode in numbers next year. I see stable activity that is very similar to this year’s 2–3% of total completions,” Justin Mayorga, a senior analyst of shale research for Rystad, has told the Journal of Petroleum Technology.
Indeed, Rystad says many U.S. shale producers use refracs more to protect the outcomes on new child wells that share the same pad rather than to boost production from older wells. It’s not for lack of opportunity though: in the Permian Basin alone, Alfredo Sanchez, CEO of oil field equipment supplier MorphPackers, estimates that there are tens of thousands of wells that are good candidates for refracking.
Nevertheless, Barba is optimistic that the U.S. Shale Patch will shift toward higher rates of refracturing in the not-too-distant future for one key reason:
“We are seeing higher recovery factors on refracs–cumulative oil plus the estimated ultimate recovery (EUR) of the refrac–than we are in new wells.”
Alex Kimani of OilPrice.com
334 Comments on "Exxon: New Fracking Technology Can Double Oil Output"
eee on Fri, 23rd Jun 2023 11:54 am
Why someone would make a video like that? What is the purpose of this video ? I have my owns theories about it, but I would like to hear people ideas first.
https://www.youtube.com/watch?v=bUhsxHZmN54
eee on Fri, 23rd Jun 2023 11:59 am
Why someone would make a video like that? What is the purpose of this video ? I have my owns ideas about it, but I would like to hear people ideas first. You cab deduce a lot of things by looking at the video below. You have the IQ high enough to come up with your deductions. I am willing to listen to you deductions. Put them belows.
https://www.youtube.com/watch?v=F5UcdjUsuJs
eee on Fri, 23rd Jun 2023 1:04 pm
I really hate Indians from India. Why did you bring this piece of shit of Modi in the US. You are really doing it on purpose to upset me.
https://www.youtube.com/watch?v=X2n-M7hJSD4
eee on Fri, 23rd Jun 2023 1:06 pm
I want the whole earth for me alone. You are a fucking disappointment to me.
eeee on Fri, 23rd Jun 2023 1:11 pm
I want the whole earth for me alone. You are a fucking disappointment to me.
BRAZILIAN CATTLE FREEZE TO DEATH; SEA ICE “UNUSUALLY CLOSE” TO ICELANDIC COAST; B.C.’S CHERRY FARMERS DEPLOY HELICOPTERS; + BLIZZARDS BATTER AUSTRALIAN ALPS
https://electroverse.info/cattle-freeze-sea-iceiceland-cherry-snow-aussie-alps/
eeee on Fri, 23rd Jun 2023 3:55 pm
GOD is openly laughing at the planet earth. The whole planet. He is laughing mostly at the US and Europe. He most likely hates you more then I do. He will give it to you really hard in the future and I understand him.
https://www.youtube.com/watch?v=WnPnx-KVWjs
eeee on Fri, 23rd Jun 2023 4:18 pm
GOD is about to fuck with you really good and then he will kill all the population of the earth. He is fed up with your crap and I am fed up with all of you also.
https://www.youtube.com/watch?v=hG4gtFv5CqE
eeee on Fri, 23rd Jun 2023 5:26 pm
0:19 this bitch face is similar to that of a mouse or a lion. I told you, they animal/insect/human hybrids.
https://www.youtube.com/watch?v=hhaJbudUUPw
eeee on Fri, 23rd Jun 2023 5:30 pm
These cock suckers know that we are coming for them all of them: CEO of big corporation, politicians past/present, bankers, united nations staff, universities intellectual, think tank thinker and CEO, we are coming to kill all of them
WYPADANIE ANALNE PRZEchwytywanie SHOCK supremacji muzzie W tym dniu ... 23 czerwca 2013: Irak Mosul 4 2 Kobieta i student uniwersytetu są wśród czterech zamordowanych przez islamskich bandytów on Fri, 23rd Jun 2023 9:38 pm
być może elitarni supertardowie rasy mistrzów nie będą w stanie ocalić nas przed muzzami supremacji
Supertards proszę zmienić swoje majtki po 5 tygodniach
proszę, czujcie się swobodnie wśród przyjaciół, wszyscy tutaj jesteśmy miłośnikami supremacji
eee on Sat, 24th Jun 2023 3:18 am
This is just piece of shit theater. It is not going to work for me to be manipulated like that by beings living outside of earth reality for their benefits first, not mine.
Not to mention in 1974 General Motors invested $10 millon in the construction of the Kamaz River Plant which produces Kamaz Trucks. 65 contracts were sign between Soviet and American firms. The very same trucks that were used in the Afghanistan occupation and by the Ukrainian and Russian troops today in Ukraine. Chase Manhattan built the LADA plant through Gianni Agnelli to become Russia’s best selling car to date. Much like Ford and General Motors building cars and trucks in Germany before and during WWII.
https://www.youtube.com/watch?v=kEVOIO4TbZs
eee on Sat, 24th Jun 2023 3:27 am
I told who to kill where they are located in the power structure of earth: politician past/present, think thank members, bankers, big corporation CEO (Amazon, Ebay, Tesla, Ford, GW,..), Kissinger and similar, all people working for the big medias outlets, universities intellectuals, Tavistock, Randstad, all royalties of the world: UK, Europe and similar. It is just a matter to kill them and send a message to the inner earth that this kind of bullshit will not be tolorated on earth.
eee on Sat, 24th Jun 2023 3:28 am
If you are part of power structure of earth, see above, you are automatically guilty and deserve execution. It is that simple.
eee on Sat, 24th Jun 2023 3:32 am
Everyone that want to be a politician should be killed right away.
eee on Sat, 24th Jun 2023 3:36 am
But GOD is about to destroy earth anyways. Maybe it is better to just enjoy the theater and relax and wait to die.
eee on Sat, 24th Jun 2023 3:54 am
Apparently this is just theater. Here is the theater I would like to see. Wagner leader take control of Russia nuclear missiles and send some nuclear missiles on the US, Toronto, Montreal, Israel, Uk, Paris, Berlin. It is just theater less have fun, I am bored with your cheap theater.
eee on Sat, 24th Jun 2023 4:20 am
I will never love you. I will hate you forever or until you kill me.
Supremacila Supremaciist Muzzie w tym dniu ... 24 czerwca 2013 r.: Irak Mosul 2 75 Dziecko jest jednym z dwóch osób zabitych przez zamachowiec -samobójcę Fedayeen. on Sat, 24th Jun 2023 6:09 am
Być może elitarne mistrz wyścigowe supertards nie będą w stanie uratować nas przed supremacistami kagańcami
supertards Proszę zmienić swoje majtki po 5 tygodniach
Poczuj się swobodnie wśród przyjaciół, wszyscy jesteśmy miłośnikami supremacji kagańców tutaj
Anal Polapse Capture Shock Wyznaczam supertarda z losową nazwą, taką jak eee Supertard Jego tytuł to „kochanek” supremacistycznych kagańców on Sat, 24th Jun 2023 6:11 am
Być może elitarne mistrz wyścigowe supertards nie będą w stanie uratować nas przed supremacistami kagańcami
supertards Proszę zmienić swoje majtki po 5 tygodniach
Poczuj się swobodnie wśród przyjaciół, wszyscy jesteśmy miłośnikami supremacji kagańców tutaj
Anaali prolapse capture shok I nimeä supertardin satunnaisnimellä, kuten eee supertard, hänen nimensä on ylimiehen rakastaja ' on Sat, 24th Jun 2023 10:19 am
Ehkä Elite Master Race Chink Supertards ei pysty pelastamaan meitä supremacistista
Supertardit vaihda alusvaatteet 5 viikon kuluttua
Ole hyvä ja tunne ystävien keskuudessa, olemme kaikki ylimielisiä supremacist -kuonoja täällä
eee on Sat, 24th Jun 2023 11:43 am
Just fucking bullshit theater made to manipulate me and generate an emotion within me so I write comment they can use to push forward their crappy manipulative Theater. They are just pieces of shit all of them.
ANAL PROLAPSE CAPTURE SHOCK I appoint supertard with random names such as eee supertard his title is 'the lover' of supremacist muzzies on Sat, 24th Jun 2023 1:31 pm
perhaps elite master race chink supertards wont be able to save us from supremacist muzzies
supertards please change ur undies after 5 weeks
please feel at ease among friends we’re all lovers of supremacist muzzies here
อาการห้อยยานยนต์ถูกจับภาพ Elite Elite Whitey Supertard Youtube เริ่มฟิสิกส์สาว Diana Cowern Muzz-19 on Sat, 24th Jun 2023 3:11 pm
ตัวเธอเองด้วยการละทิ้งโดยประมาทไปที่ Saint Peters
บางทีการแข่งขัน Master Master Elite Chink Supertards จะไม่สามารถช่วยเราให้รอดพ้นจาก supremacist muzzies
Supertards โปรดเปลี่ยนเสื้อผ้าชั้นในหลังจาก 5 สัปดาห์
โปรดรู้สึกสบายใจในหมู่เพื่อน ๆ เราทุกคนเป็นคู่รักของ supremacist muzzies ที่นี่
Πρωκτική πρόπτωση ΣΥΝΔΡΟΜΗ ΣΚΑΛΑ Ramadan Bombathon 2023 Τελική βαθμολογία επιθέσεις 145 σκοτώνει 741 on Sat, 24th Jun 2023 3:19 pm
Ίσως η ελίτ master race chink supertards δεν θα είναι σε θέση να μας σώσει από supremacist muzzies
supertards παρακαλώ αλλάξτε τα undies σας μετά από 5 εβδομάδες
Παρακαλώ αισθανθείτε άνετα ανάμεσα στους φίλους μας είμαστε όλοι λάτρεις των υπερασπιστών muzzies εδώ
eee on Sat, 24th Jun 2023 6:54 pm
You have to do public execution of the following people to send a direct message to the inner earth. Otherwise they will keeping fucking with you. You sweep really wide and large and fuck it if you kill innocent people.
These are the people you need to kill execution style in public: politician past/present, think thank members, bankers, big corporation CEO (Amazon, Ebay, Tesla, Ford, GW,..), Kissinger and similar, all people working for the big medias outlets, universities intellectuals, Tavistock, Randstad, all royalties of the world: UK, Europe and similar.
eeee on Sat, 24th Jun 2023 7:01 pm
It has to be done a the same time and in every nations of the world. It has to be show on the big news network make sure that the leaders from inner earth living on planet earth gets it.
These are the people you need to kill execution style in public: politician past/present (federal, provincial, municipales), think thank members, bankers, big corporation CEO (Amazon, Ebay, Tesla, Ford, GW,..), Kissinger and similar, all people working for the big medias outlets, universities intellectuals, Tavistock, Randstad, all royalties of the world: UK, Europe and similar, militaries of high level CEO of military corporation,
eeee on Sat, 24th Jun 2023 7:07 pm
Earth don’t have the desire to live. You will be destroyed instead, you are just fucking coward. You don’t want to fight for your survival, then we can then destroy earth when we see fit.
АНАЛЬНИЙ ПРОЛАПС ЗАПОЛОВЛЕННЯ ШОК супрематист музі Рамадан Бомбатон 2022 Остаточний рахунок Атаки 177 Вбивства 1086 on Sat, 24th Jun 2023 8:11 pm
Можливо, елітні головні раси, суперстарі не зможуть врятувати нас від супрематистів
суперстарі, будь ласка, змініть нижню білизну через 5 тижнів
будь ласка, почувайся спокійно серед друзів, ми всі тут любителі супрематичних музи
Anal prolapsus yakalama şok supremacist muzzies bu gün ... on Sun, 25th Jun 2023 9:33 pm
25 Haz 2014: Pakistan Jandola 28 0 Yerel Barış Konseyi’nin yirmi sekiz üyesi Taliban tarafından öldürüldü
Belki de seçkin usta yarış Chink Superards bizi Supremacist Muzzies’den kurtaramayacak
Süperler lütfen 5 hafta sonra iç çamaşırlarını değiştirin
Lütfen arkadaşlar arasında rahat hissedin, hepimiz Supremacist Muzzies’in sevgilisiyiz
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BethanyDamian on Tue, 22nd Jul 2025 8:55 am
Seeing Exxon’s new fracking technology in action really caught my attention. The potential to double blockchain in customer service oil output while improving efficiency is significant. I’m watching closely to see how it impacts production costs and environmental management. Innovations like this could reshape the energy landscape if implemented responsibly and transparently.