![](/sites/default/files/styles/hart_news_article_image_640/public/image/2019/02/cover_97.jpg?itok=o6DjRs6z)
A wellhead manifold manages EOR injection into a reservoir. (Source: P.V.R.M., Shutterstock.com)
Despite industry economics preventing widespread implementation of EOR efforts, the EOR market may be one of the next to emerge in the industry’s recovery from low oil prices. In recent years, even as the price of oil has dipped below $50/bbl, many research institutions and industry analysts have extolled the substantial recoveries EOR offers. For offshore alone there may be as much as 50 Bbbl of oil recoverable by EOR methods.
According to a recent study conducted by BCC Research, the global EOR market is poised to grow by 6% during the next four years. BCC reported that the EOR market in 2016 totaled $22.9 billion, and by 2021 that amount will reach $30.4 billion.
And although many industry-leading operators are putting their EOR efforts on hold until prices recover, companies like Kinder Morgan, Occidental Petroleum, EOG Resources and BP are utilizing advanced EOR technologies as one of their primary means of reservoir recovery and are seeing success doing so.
In this month’s E&P we take a look at the latest EOR trends and the efforts companies are implementing in conventional onshore reserves, unconventional plays and offshore projects and how those efforts are succeeding in the lower-for-longer price environment.
Read each cover story:
Sustaining EOR in today’s economy
Recommended Reading
Summit Sees Drop-off in Gas Traffic Following Utica Midstream Sale
2024-08-09 - Summit Midstream spent the second quarter reorganizing and raising cash for the future, the company's CEO said.
Granite Ridge Adds Interests in Midland, Delaware, Williston
2024-08-09 - Non-op Granite Ridge Resources closed transactions during and after the second quarter in multiple plays, including the Midland, Delaware, Williston, D-J and Appalachian basins.
Oxy CEO Hollub on Divestment Plans: This is Not a ‘Fire Sale’
2024-08-08 - Occidental Petroleum is keeping under wraps what it might sell to prevent compromising “our ability to maximize the value,” CEO Vicki Hollub said during an Aug. 8 earnings call.
Continental, Antero, Other E&Ps Make Strides in Ground Game A&D
2024-08-08 - Operators have been hard at work on ground game dealmaking from the Permian to Appalachia through the first half of the year, according to reports by Continental Resources, Antero Resources, HighPeak Energy and others.
Matador Resources Buys EnCap E&P Ameredev II for $1.9B
2024-06-12 - Matador Resources is expanding its Delaware Basin footprint in West Texas and New Mexico with the acquisition of EnCap-backed operator Ameredev II.