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Page added on June 10, 2023

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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. eeee on Tue, 20th Jun 2023 3:19 pm 

    Manipulating the US 10 years treasuries yield downward again. 3.8 seems the maximum they will tolerate.

    (3.822-3,721)/3.822*100=2,64% down in one day

    You are afraid to die fucking pieces of shit.

    2,64% downward in one day is a big move. Totally manipulated by the federal reserve. You blow up upward the debt exponential. You have no natural ressources to rebuild a new civilisation. Once the supply chain collapses, the electrical grid will go down and you will not be able to set up your control grid over the world. See South Africa for what will happen once the electrical grid down. Once the supply chain stop, you will not be able to restart it. You printed too much money and blow up the exponential of debt upward. The US interest rate should be at least 10% to preserve world wide natural ressources.

  2. eee on Tue, 20th Jun 2023 4:06 pm 

    Here we go again, the body repair/regeneration is kicking in. Pain is already here with tickling skin. I am not sure if it is a body regeneration but I have two kinds of skin on my fore arms.

  3. eee on Tue, 20th Jun 2023 7:30 pm 

    Apparently I will inherit (not totally sure of that) the earth field. I already had talked with GOD how we will turn earth into a creation reality once everyone on it is dead. In my mind it is over for earth. Even the bitch is not interested by earth anymore.

  4. eeee on Tue, 20th Jun 2023 7:57 pm 

    All the population of earth needs to die to setup my idea of creation reality. You all have to go fucking losers.

  5. eee on Tue, 20th Jun 2023 8:08 pm 

    I came with a bunch of high level concepts. I had so much inspiration. Everyone on earth needs to die to make it happen. One energy field one creator and nobody inside the energy fiels.

  6. Анальный вылапс захват шокированного превосходства в этот день ... 20 июня 2018 года: Липандакуа, Мозамбик on Tue, 20th Jun 2023 9:29 pm 

    Количество Elite Whitey (((Supertards))), который Muzz-19-это решетка
    это будет холокостичность

  7. Anal Prolapse Capture Shock Supremacist Muzzie Ramadan Bombathon 2023 Endpunktangriffe 145 Kills 741 on Tue, 20th Jun 2023 9:31 pm 

    Die Anzahl der Elite Whitey (((Supertards))), die Muzz-19 rostet
    Es wird eine Holocaustianität sein

  8. eee on Tue, 20th Jun 2023 9:59 pm 

    Speak by itself I guess

    https://www.youtube.com/watch?v=4xv_ouDbd70

  9. eee on Tue, 20th Jun 2023 10:26 pm 

    8:46 the bitch in tight legging. I though it was funny. This look more like a comedy then real life. I work on a project related to the control system of this ship, I think, 20 years ago. I was an integration specialist.

    https://www.youtube.com/watch?v=u3ul0GwP0Is

  10. eee on Tue, 20th Jun 2023 10:36 pm 

    I used to know how to start from a dead stop all the mechanical equipment from the consoles.

    It is not the same console, they upgraded the control system.

  11. eeee on Tue, 20th Jun 2023 10:45 pm 

    This piece of shit above run on oil. You won’t be able to keep your navy running for long because of peak oil. That will probably be the first think to go to save oil.

  12. eee on Tue, 20th Jun 2023 10:49 pm 

    I think I did the mathematical model of the diesel engine powering the electrical generator. It was a really simplify model. This is almost 20 years ago.

  13. eee on Tue, 20th Jun 2023 11:05 pm 

    All the ice breakers in Nordic nations are run on oil, maybe with the exception of Russia. Wait until the oil run out, and see how some nations will become paralyzed by the cold.

  14. eeee on Tue, 20th Jun 2023 11:50 pm 

    Johnny Winter. Look at this cock sucker. He looks like a dead person with cold blood playing guitar at 0:12

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

  15. eee on Wed, 21st Jun 2023 3:18 am 

    Canada is not going to survive with such low quality leadership as Trudeau, piece of shit Legault, fat Ford, Mulroney father and daughter. Still using a 1960 build ice breaker working with oil. You don’t survive with low crappy leadership like we have in Canada. Put a fork in it Canada, you are done. That was Mulroney idea to fill up Canada with garbage brown skin immigrants. Nobody wants to live in Canada including with people like me,

    https://www.youtube.com/watch?v=J_bzx7f2tMs

  16. eee on Wed, 21st Jun 2023 3:28 am 

    This is Canada pathetic biggest ice breaker. There is no plans to build a nuclear one. Canada is done. Even White people like me don’t want to live in Canada. You have to say thank you to the pathetic Canadian leaderships: Trudeau, piece of shit Legault, fat Ford, Mulroney father and daughter, Chretien, and Chretien daughter that is married to the one of the son of Desmarais.

    https://www.youtube.com/watch?v=M8uNwlcGjUY

  17. eee on Wed, 21st Jun 2023 3:33 am 

    Me and my bitch are done with earth. We are moving past earth to something else. First everyone on earth has to die.

  18. eee on Wed, 21st Jun 2023 3:36 am 

    Look ice breaker power by oil. Look I just found that video. You can see the diesel black smoke coming out of the diesel engine.

    https://www.youtube.com/watch?v=Ffhg31UUkYQ

  19. eee on Wed, 21st Jun 2023 3:43 am 

    Finland should have never aligned themselves with Nato and Europe. I guess they will freeze to death or all immigrate to Spain, Portugal, Greece, Italy. Low quality mentally retarded European leadership.

    https://www.youtube.com/watch?v=wSy2PM8_5CQ

  20. eee on Wed, 21st Jun 2023 3:54 am 

    Look another Finish ice breaker power with oil. Look you can see the big exhaust. Stupid Finish have aligned themselves with Western Europe and Nato. Same thing with the stupid Swedes.

    https://www.youtube.com/watch?v=DWeX0QVyo9k

  21. eee on Wed, 21st Jun 2023 4:13 am 

    You can already see the internal chaos taking place inside Europe once the population of Denmark, Sweden, Finland decide to move south of Europe because the north become inhabitable. I can see the whole Europe burning and blood everywhere in Europe. I can see the end of Europe.

  22. eee on Wed, 21st Jun 2023 4:17 am 

    I can also see the end of Canada and US when the oil run out. I can see all the Canadian immigrating to the south of US causing conflicts and endless internal wars.

    I can see the future where the earth will belong to me, if GOD wants it.

  23. eee on Wed, 21st Jun 2023 4:34 am 

    As always on earth, they will fuck up everything with this: un nouveau pacte financier mondial. It is not going to work. You will not be able to install a one world government. Notice these ideas to control the world always come out of Europe. They will fail like they always do.

    https://www.youtube.com/watch?v=-ikU1CuUqkg

    Very soon the whole earth will belong to me if GOD wants it. Do it so GOD and I can laugh at you.

  24. eee on Wed, 21st Jun 2023 4:37 am 

    As always on earth, they will fuck up everything with this: un nouveau pacte financier mondial. It is not going to work. You will not be able to install a one world government. Notice these ideas to control the world always come out of Europe. They will fail like they always do.

    https://www.youtube.com/watch?v=-ikU1CuUqkg

    Very soon the whole earth will belong to me if GOD wants it. Do it so GOD and I can laugh at you.

    I think this was predicted in the bible, the installation of a one world government. Your failure was also predicted in the bible, I think.

  25. eee on Wed, 21st Jun 2023 4:55 am 

    I think earth is the only energetic field available to build a reality. You have to destroy earth and kill everyone before you can put a new creation in the field. GOD has enough of you.

  26. Duncan Idaho on Wed, 21st Jun 2023 11:17 am 

    LCBO anti-theft device allegedly tracked stolen whisky to veteran Toronto cop’s home

    Are we safer with drunk pigs?

    https://www.thestar.com/news/gta/2023/06/20/lcbo-anti-theft-device-allegedly-tracked-stolen-whisky-to-veteran-toronto-cops-home.html

  27. eeee on Wed, 21st Jun 2023 1:06 pm 

    Listen to this lying piece of shit of Powell. He wants to lower the rate and restart money printing. THere is a reason why you are here on earth to die, you are just trash. You death will bring in a new renewal with new ideas and new concepts. Listen to this piece of shit stutter.

    https://www.youtube.com/watch?v=jFfFMFnri5s

  28. eee on Wed, 21st Jun 2023 1:53 pm 

    Pieces of trash from Europe. UK. Israel, Japon. Korea. You are about to die fucking garbage. Think of Kissinger a fucking jew.m

  29. eee on Wed, 21st Jun 2023 2:01 pm 

    Notice that all the concept about controlling the world originally came from Europe: globalism, international trade law system, monetary theory, WW1. WW2, Ukraine war and now this new CDBC/new financial worldwide financial pact. The throne of the devil is in Europe Switzerland, UK, Germany,France, Sweden, Austria.

    https://www.youtube.com/watch?v=-ikU1CuUqkg

  30. eee on Wed, 21st Jun 2023 2:09 pm 

    Europe was doing maritime trade and had an establish monetary system way before the US was created and colonized by Europeans. Everything points toward Europe as controllers of the earth.

  31. eee on Wed, 21st Jun 2023 2:29 pm 

    Europe already had an plan since the first of North America colonization days. To build a strong US military to serve as an enforcer of globalism on behalf of Europe. They already had a plan to build the US currency as the world reference currency to build globalism international trade system on the behalf of Europe and UK. Europe gave the reference currency to the US so they could use it to build a military to serve as globalism enforcer on the behalf of Europe.

  32. eee on Wed, 21st Jun 2023 2:37 pm 

    Europe created WW1 WW2 and anti-semithism. Always remember who created Israel: UK. They use the Jews, see UK, to infiltrate the US and control it on the behalf of Europe. The Jews would serve as a firewall between Europe and the rest of the world. If something goes wrong, the Jews would be blamed instead of the Europeans of Europe. the Jews are Europe assurance policy. The Jews can be easily manipulate with money as they are naturally greedy. Europeans knew that and use it. I still hate the jews as I see them unfit to govern anything.

  33. Анальный вылапс захват шокированного превосходства в этот день ... 20 июня 2018 года: Липандакуа, Мозамбик on Wed, 21st Jun 2023 2:40 pm 

    كان انهيار التحالف اليساري/الإسلامي أمرًا لا مفر منه. يمكن لأي شخص درس تاريخ الإسلام ، وخاصة التحالفات بين المسلمين وغير المسلمين ، أن يرى ذلك قادمًا ، وكان من المحتم أيضًا أن يحصل اليساريون على أسوأ ما في ذلك ، كما فعل حزب إيران الشيوعي Tudeh عندما دعمت آية الله الخميني ، فقط لجعله يرمي أعضاء الحزب إلى السجن بمجرد أن حصل على السلطة.

  34. eeee on Wed, 21st Jun 2023 2:46 pm 

    Japan participated also at the creation of globalism by attacking South Korean and China. Japan and Europe were working together to install globalism. Japan has no natural resources, same as Europe.

  35. Анальный пролапс захват шока превосходство Muzzie Ramadan Bombathon 2023 Окончательный результат атаки 145 убийств 741 on Wed, 21st Jun 2023 3:03 pm 

    يرجى تغيير ملابسك الداخلية بعد 5 أسابيع
    يرجى الشعور بالراحة بين الأصدقاء
    نحن جميعًا من عشاق muzzies المتعصبين هنا

  36. eee on Wed, 21st Jun 2023 3:18 pm 

    Did I pass the leadership test ? Can I access the highest level of divinity? Just kidding.

  37. Theedrich on Wed, 21st Jun 2023 3:44 pm 

    The “eee” poster is a Dem false flagger. He/they is/are flooding this site with drivel, often insanely right/left extremist wing in order to deny legitimate posters any opportunity to contribute and to simply disgust readers.  His/their unceasing posts amount to a denial of service attack on the site.  The new Left-bribe-ocratic dictatorship does not want serious discussion of any type.  Only its propaganda is permitted.

  38. eee on Wed, 21st Jun 2023 4:41 pm 

    They install globalism, international trade law system to steal natural resources from earth and transport them in the underworld. This is something that could be done using globalism. Globalism stand for free trade and free circulation of goods using: maritime, terrestrial means. Someone ask me this question. Everything is possible in this crazy world.

  39. eee on Wed, 21st Jun 2023 4:48 pm 

    Yes bitch. They setup a monetary system and send people on earth to extract the natural resources for them and we send them without knowing it, these natural resources to the underworld. Earth provides the labor to extract the natural resources for them.

  40. eee on Wed, 21st Jun 2023 4:50 pm 

    This is why I want to destroy globalism and free trade, international law system.

  41. eee on Wed, 21st Jun 2023 4:55 pm 

    That could explain the mass migration we see on earth. The underworld is sending bees workers to help extract more natural resources for them and maybe even manufacture more goods for them.

  42. eee on Wed, 21st Jun 2023 4:56 pm 

    This is why I support crashing the monetary and financial system to the ground. Obviously we will have, people living, on earth to endure some pain.

  43. eee on Wed, 21st Jun 2023 4:59 pm 

    A lot of player in this earthly game, including some beings that don’t have flesh bodies.

  44. eee on Wed, 21st Jun 2023 5:13 pm 

    Some place on earth look like they have been completely drain of natural resource, middle-east only sand except for oil. Look like someone took all the natural resources for the middle east and transported them in the underworld. Same thing for some part of Africa. It looks like someone came an took out a lot of natural resources out of Africa to transport them in the underworld. Northern Africa is mostly sand desert that has been cleaned out dry of natural resources. Look like that to me.

  45. eee on Wed, 21st Jun 2023 5:16 pm 

    That would explain their obsession about saving natural beauty of earth. All this earth worshipping is about saving the natural resources for the underworld.

  46. eeee on Wed, 21st Jun 2023 5:31 pm 

    The technologies like electricity, water treatment, internal combustion engine, ship building could possibly come form the underworld. So the underworld might have the same tech that we have here on earth. They might be more advance in term of radio frequency datas transmission tech like WIFI but that is about it. They need a control center here on earth. Europe play the role the control center of earth.

    I have too much inspiration must be coming from GOD.

  47. eee on Wed, 21st Jun 2023 5:32 pm 

    I am very suspicious about the purpose of transferring all manufacturing to China. Something is not right about this move.

  48. eee on Wed, 21st Jun 2023 5:41 pm 

    They must have a flesh body and eat food. Otherwise they would not have invented waste water treatment technologies. By the way France play a big role in the development of waste water treatment technologies. A lot of this stuff is coming from the French. They seems to like woods.

  49. eeee on Wed, 21st Jun 2023 5:49 pm 

    If they have a flesh body, they can be easily killed.

  50. eeee on Wed, 21st Jun 2023 6:04 pm 

    My theory above would explain a lot of things, like pyramids of Egypt. Egypt is also a desert that look like has been clean up dry of natural resources. My theory will also explain these

    Lost World of the Maya (Full Episode) | National Geographic
    https://www.youtube.com/watch?v=7MFKy7DJsCY

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