LET IT FLOW – THE POTENTIAL FOR ENHANCED OIL RECOVERY IN SHALE PLAYS
Article, RBN Energy:
Tuesday, 06/07/2016 Published by: Housley Carr
Crude oil prices have rebounded somewhat in recent weeks (and now are hovering near $50/bbl), but cash-hungry shale-play producers remain laser-focused on high-output “sweet spots” that promise quick, sure-fire economic returns.
What if these same producers could get an added, low-cost boost in output—and much-needed revenue—through enhanced oil recovery (EOR)? EOR, which involves injecting or “flooding” seemingly past-their-prime oil wells with steam, carbon dioxide (CO2), natural gas or nitrogen to spur further production, has always been associated with conventional, vertical wells; but as we discuss today, there’s a push under way to make EOR work in horizontal wells too.
1) Shale reservoirs have low recovery factors (<10% recovery), therefore: the need for enhanced recovery;
2) CO2 has been proven successful in EOR – accounting for roughly 50% of tertiary recovery in the US – or 5% of daily US oil production;
3) E&P companies are now changing their EOR focus on shale reservoirs.
Ferus offers technical services and CO2 for EOR pilot projects in Canada and the US, both Huff’n’Puff and in conventional floods.