George Mitchell spent a lot of time and certainly a lot of money trying to crack the secret of the Barnett Shale. And even after he found success, many people doubted that this whole unconventional thing would ever amount to much.
We’ve learned a thing or two since then. In North America alone, McKinsey Energy Insights estimates U.S. shale oil production will reach about 9 MMbbl/d by 2025. Total capex will grow at 25% per year through 2021, and drilling and completions will grow by 20% per year over that same time frame. Even as shale plays tipped the balance of supply and demand, operators found ways to do things for less, and McKinsey’s “North American Shale Oil Perspective” report noted that the Permian Basin’s core breakeven price is less than $41/bbl in 2017.
The October cover stories contain a snapshot of just how creative operators and service companies have become in tackling these challenging plays.
This month's cover story topic was shales. Read each of article:
Using buoyancy-assisted casing equipment to extend lateral reach
Recommended Reading
Wildcatting is Back: The New Lower 48 Oil Plays
2024-12-15 - Operators wanting to grow oil inventory organically are finding promising potential as modern drilling and completion costs have dropped while adding inventory via M&A is increasingly costly.
Matador’s U-lateral Delaware Tests Outproduce 2-mile Straight Holes
2024-10-30 - Matador Resources' results from eight Loving County, Texas, tests include two 2-mile U-turn laterals, five 2-mile straight laterals and one 1-mile straight lateral, according to state data.
Coterra Takes Harkey Sand ‘Row’ Show on the Road
2024-11-20 - With success to date in Harkey sandstone overlying the Wolfcamp, the company aims to make mega-DSUs in New Mexico with the 49,000-net-acre bolt-on of adjacent sections.
SM, Crescent Testing New Benches in Oily, Stacked Uinta Basin
2024-11-05 - The operators are landing laterals in zones in the estimated 17 stacked benches in addition to the traditional Uteland Butte.
Hot Permian Pie: Birch’s Scorching New Dean Wells in Dawson County
2024-10-15 - Birch Resources is continuing its big-oil-well streak in the Dean formation in southern Dawson County with two new wells IP’ing up to 2,768 bbl/d.
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