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Exxon: New Fracking Technology Can Double Oil Output

Production

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"

  1. ANAL PROLAPSE CAPTURE SHOCK supremacist muzzie 2023.06.14 (Philippines) An Islamist splinter group ambushes and kills two local cops. on Fri, 16th Jun 2023 11:51 pm 

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  2. ANAL PROLAPSE CAPTURE SHOCK supremacist muzzie perhaps elite master race chink supertards may be able to save us from supremacist muzzies on Fri, 16th Jun 2023 11:54 pm 

    (June 13, 2023 / JNS)

    When Chinese government officials burn Korans, demolish mosques, prevent the practice of Islam and carry out the “systematic genocide of Muslims in the Uyghur region regularly,” Islamic countries and ordinary Muslims do not speak out. That’s according to Omer Kanat, co-founder and executive committee chairman of the World Uyghur Congress.

  3. ANAL PROLAPSE CAPTURE SHOCK supremacist muzzie elite whitey supertard on Sat, 17th Jun 2023 3:39 am 

    The scale of the abuses against Uyghurs and other Turkic peoples is staggering, with an estimated two to three million people detained without charge or trial in a giant mass internment program.

  4. ANAL PROLAPSE CAPTURE SHOCK supremacist muzzie perhaps elite master race chink supertards can save us from supremacist muzzies on Sat, 17th Jun 2023 3:41 am 

    The scale of the abuses against Uyghurs and other Turkic peoples is staggering, with an estimated two to three million people detained without charge or trial in a giant mass internment program.

  5. ANAL PROLAPSE CAPTURE SHOCK supremacist muzzie 2023.06.17 (Uganda) Forty-one people, mostly students, are hacked or burned to death in their school by ADF Islamists. on Sat, 17th Jun 2023 4:44 pm 

    perhaps elite master race chink supertards can save us from supremacist muzzies

    The scale of the abuses against Uyghurs and other Turkic peoples is staggering, with an estimated two to three million people detained without charge or trial in a giant mass internment program.

  6. ANAL PROLAPSE CAPTURE SHOCK supremacist muzzie perhaps elite master race chink supertards can fix problems with supremacist muzzies on Sat, 17th Jun 2023 4:46 pm 

    That echoes Chinese propaganda surrounding the detention of more than 1 million Uyghurs, Kazakhs and other Muslim minorities in prison-like detention centers on little or no legal grounds — often merely for having a relative studying abroad or downloading the Koran onto their phones.

  7. ANAL PROLAPSE CAPTURE SHOCK June is Thank UPPERtard for Supporting Free Speech Month on Sat, 17th Jun 2023 8:17 pm 

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  8. ANAL PROLAPSE CAPTURE SHOCK supremacist muzzie On This Day... Jun 18, 2002: Patt Junction, Israel Passengers on a bus make easy picking for a Religion of Peace suicide bomber: 19 Killed on Sun, 18th Jun 2023 12:51 pm 

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  9. 2021.04.23 France Paris 1 0 A mother-of-2 is stabbed twice in the throat by an Allah-praising Tunisian migrant. on Sun, 18th Jun 2023 12:55 pm 

    supremacist muzzie Ramadan Bombathon 2021 Final Score Attacks 222 Kills 1103

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  10. ANAL PROLAPSE CAPTURE SHOCK supremacist muzzie On This Day 2014.06.18 Pakistan Hangu 7 1 Three women are among a family of eight slaughtered in their home by sectarian Jihadis on Sun, 18th Jun 2023 12:57 pm 

    supremacist muzzie Ramadan Bombathon 2021 Final Score Attacks 222 Kills 1103

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  11. ANAL PROLAPSE CAPTURE SHOCK supremacist muzzies 2008.11.26 India Mumbai 178 370 Mujahideen throw grenades and machine-gun over one-hundred and fifty civilians and tourists to death as they attack several sites, on Sun, 18th Jun 2023 5:04 pm 

    including a hotel, cafe, market and train station.

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  12. Duncan Idaho on Sun, 18th Jun 2023 5:20 pm 

    True Democracy Is Incompatible With Capitalism

    https://znetwork.org/znetarticle/true-democracy-is-incompatible-with-capitalism/

  13. ANAL PROLAPSE CAPTURE SHOCK supremacist muzzies 2008.11.26 India Mumbai 178 370 Mujahideen throw grenades and machine-gun over one-hundred and fifty civilians and tourists to death as they attack several sites on Sun, 18th Jun 2023 7:20 pm 

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  14. ANAL PROLAPSE CAPTURE SHOCK supremacist muzzies its obv. elite master race chink supertards are winning against supremacist muzzies on Sun, 18th Jun 2023 7:39 pm 

    A Uyghur family fled and Beijing followed, pushing for prison and extradition in Turkey and Morocco
    Zeynure, 29, a Uyghur mother of three exiled in Istanbul, spoke to The China Project in June about the challenges of building a stable life…
    .
    3 days ago

  15. ANAL PROLAPSE CAPTURE SHOCK when CONVID first started circa Mar2020 elite whitey supertard thunderf00t went on self imposed quarantine and i said it smellz and demanded immediate amputation on Sun, 18th Jun 2023 9:48 pm 

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  16. ANAL PROLAPSE CAPTURE SHOCK elite whitey (((supertard))) commediaan Bob Saget MUZZ-19 himself with reckless abandonment WENT TO SAINT PETERS on Sun, 18th Jun 2023 9:49 pm 

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  17. ANAL PROLAPSE CAPTURE SHOCK supremacist muzzie Ramadan Bombathon 2023 Final Score Attacks 145 Kills 741 on Mon, 19th Jun 2023 10:35 am 

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  18. eeee on Mon, 19th Jun 2023 2:35 pm 

    Planet earth will be destroyed and everyone killed. Earth is an execution chamber filled with garbage waiting for their execution time. You deserve to be here on earth and die, this is your faith.

    ‘June-uary’: Snow covers parts of British Columbia

    https://www.youtube.com/watch?v=Nft_JfrXMi0

  19. eee on Mon, 19th Jun 2023 3:07 pm 

    Go to the address below. Select any cities does not matter. Click on Vérifier les quantités and check on many store don’t have copper tubing. We are running out of natural resources, you had to raise the rate by 1% at least and default on US debt. It is too late now you miss your window. Prepare to die

    www__renodepot__com/fr/tuyau-de-cuivre-cerro-de-1-2-po-x-12-pi-63035006

  20. eeee on Mon, 19th Jun 2023 3:10 pm 

    You can do it in English if you are more confortable. Click of check quantities. Very soon you will not be able to fix your house. Collapse will happen really fast.

    https://www.renodepot.com/en/cerro-1-2-in-x-12-ft-copper-tube-63035006

  21. eeee on Mon, 19th Jun 2023 3:21 pm 

    I just receive this welding oxygen regulator. In the past they were made with brass (copper, lead, zing) now some part are made of aluminium because we are running out of copper.

    https://www.aliexpress.com/item/1005003287692024.html?spm=a2g0o.productlist.main.1.3b0b25c57sGVMb&algo_pvid=4ed8384f-15a4-4671-90d4-479eeb364f80&algo_exp_id=4ed8384f-15a4-4671-90d4-479eeb364f80-0&pdp_npi=3%40dis%21CAD%2150.41%2126.71%21%21%21%21%21%40211be54b16872058688581302d07ff%2112000028704080808%21sea%21CA%210&curPageLogUid=i99TjiGR3HX1

    We might be dead before the end of the year of next year.

  22. eeee on Mon, 19th Jun 2023 3:31 pm 

    DO you still like globalism and maritime containers shipping $ The ones that should be starves of oil first are the ones responsible for installing globalism: UK, Europe, Japan, Israël.

  23. eee on Mon, 19th Jun 2023 3:49 pm 

    Wait until you are unable to find electrical wire for your house or industrial application. Interest rate in Whites nations should be 10% already. You are so behind the curve.

    https://www.renodepot.com/fr/cable-electrique-nmd90-southwire-romex-simpull-calibre-12-2-30-m-bobine-rouge-47230829-74045297

    You have two stores that are out of stock.

  24. eee on Mon, 19th Jun 2023 4:02 pm 

    Earth is a execution chamber, you are here to die and die you will. Do you need more proofs.

  25. eee on Mon, 19th Jun 2023 4:03 pm 

    What do you have to say to me, I am talking to you the fucking hidden controllers of the earth.

  26. eee on Mon, 19th Jun 2023 4:05 pm 

    I want to hear your explanation how you will fix this, pieces of shit globalist’s.

  27. eee on Mon, 19th Jun 2023 4:07 pm 

    We already have a one world gouvmerment through globalism. I want to hear your solution before you get kill by the people.

  28. eee on Mon, 19th Jun 2023 4:13 pm 

    London mayor’s climate crackdowns are about ‘controlling our lives,’ says Nigel Farage

    https://www.youtube.com/watch?v=reSCQm7yXig

    UK. Europe, Japan and Israel and US should be starved of oil first.

  29. eee on Mon, 19th Jun 2023 4:31 pm 

    Just look for limited stock. This is the US not canada

    https://www.homedepot.com/s/1%2F2%20copper%20tubing?NCNI-5

  30. ANAL PROLAPSE CAPTURE SHOCK supremacist muzzie n This Day... Jun 19, 2013: Mogadishu, Somalia Civilians and staff are among those killed when Islamists storm a UN complex: 15 Killed on Mon, 19th Jun 2023 4:36 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

  31. eee on Mon, 19th Jun 2023 4:46 pm 

    It is too late now, everyone on planet earth will die. It is the will of GOD. If you live on planet earth it is over for you.

  32. eee on Mon, 19th Jun 2023 4:57 pm 

    You can almost see a dictator leader raising up over North America with execution power. You can see him openly declare war against Israel and the Jewish people. You can almost see the Jews of North America being killed in public and a trade embargo on Israel from the rest of the world. You can almost see the US army bombing critical infrastructure in Israel like water treatment plant, electrical generation plants, electrical sub station.

    Can you see it, I can see it.

  33. eee on Mon, 19th Jun 2023 4:59 pm 

    Can you see a maritime trade embargo on Europe and UK from the rest of the world. I can see it, can you see it.

  34. eeee on Mon, 19th Jun 2023 9:06 pm 

    I love how she wins the fight with inverted triangle at 2:04. I almost masturbated to that, joking.

    https://www.youtube.com/watch?v=Zvg3ZCYM7Vw

  35. eeee on Mon, 19th Jun 2023 10:54 pm 

    They do fucking good submissive porn. You have to give them that.

    https://fr.xhamster.com/videos/gape-of-throne-1-extreme-anal-long-version-4786113

  36. ANAL PROLAPSE CAPTURE SHOCK supremacist muzzie On This Day... Jun 19, 2013: Austria Linz 2 0 A 'radicalized' Muslim slits the throats of an elderly couple in their home on Mon, 19th Jun 2023 10:55 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

  37. ANAL PROLAPSE CAPTURE SHOCK supremacist muzzie On This Day... Jun 20, 2013: Belgium Brussels 0 0 A suicide nail bomber attempts to aerate passengers at a train station. on Mon, 19th Jun 2023 10:57 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

  38. eeee on Mon, 19th Jun 2023 10:58 pm 

    She has no teeth for 1 min.

    https://fr.xhamster.com/videos/pawg-london-river-fucked-hard-by-dr-mercies-7101935

  39. eeee on Mon, 19th Jun 2023 11:06 pm 

    They do really good porn. Look like a procreation chamber.

  40. eee on Mon, 19th Jun 2023 11:37 pm 

    1:02 no teeth.

    https://www.youtube.com/watch?v=geVBruZAWA4

  41. eee on Mon, 19th Jun 2023 11:42 pm 

    I guess if you don’t need to eat to stay alive, you don’t need teeth. Specie from another dimension maybe ???

  42. eee on Mon, 19th Jun 2023 11:53 pm 

    I am still convinced that only a few selected people, 4 or 5 masculine man will leave earth and move somewhere else. The rest of the population of earth will be killed. I could be wrong obviously. The food on earth sucks and teeth are more an hindrance then a blessing. Eating and shitting are for animals. Superiors being don’t humiliate themself by eating and shitting, no need for teeths.

  43. eeee on Tue, 20th Jun 2023 12:07 am 

    No women will ever leave earth. They are a failed design. Completely amoral and cannot tell the difference between the truth and lie, too much narcissique, too stupid, too manipulative, too self-center, …

    Same thing for gay and metro sexual man:Completely amoral and cannot tell the difference between the truth and lie, too much narcissique, too stupid, too manipulative, too self-center, …

  44. eee on Tue, 20th Jun 2023 12:10 am 

    Earth is a prison and execution chamber for low quality souls, like the human female and other souls.

  45. eeee on Tue, 20th Jun 2023 12:14 am 

    I would not be surprised if a new and improve female will be made available to the few selected man that will leave earth.

  46. eee on Tue, 20th Jun 2023 12:23 am 

    You have to have a perfect track record to leave earth. Only 4 or 5 high quality selected man will leave earth before it gets destroy. This is my opinion. Nothing worse then man worshipping the human female. The human female is a complete failure.

  47. eee on Tue, 20th Jun 2023 12:34 am 

    Women are really the seeds of the devil. Nobody would want them in a new reality. Same with gay, feminized acting man, metro sexual, weak minded man.

  48. eeee on Tue, 20th Jun 2023 12:37 am 

    Asian man are basically a women mind with penis. Nobody wants them.

  49. eee on Tue, 20th Jun 2023 12:50 am 

    In fact, if you don’t need to eat to stay alive, you don’t need your tongue, teeth, digestive system, asshole.

  50. eee on Tue, 20th Jun 2023 12:56 am 

    Teeth, tongue, eating, pissing and shitting have no place on an upgraded and improve body. Only the losers in Singapore are proud of drinking their feces.

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