Horizontal Wells In Oklahoma Open Up Previously Unreachable Deposits
23 June 2011 - 9:30PM
Marketwired
Horizontal drilling in North America over the last decade has
produced more and more oil from past-producing deposits and shale
and will continue to do so as technology continues to grow.
In Oklahoma, Devon Energy Corp. (NYSE: DVN), Panhandle Oil and
Gas, Inc (NYSE: PHX) and Sandridge Energy, Inc (NYSE: SD) are some
of the bigger names that have begun using or explored the merits of
horizontal drilling. An up and coming exploration and production
(E&P) company, American Petro-Hunter (OTCBB: AAPH) has already
begun operations in Oklahoma with its horizontal drill project.
In a recent interview about horizontal drilling with Kevin Shaw,
an analyst with Wellington West Capital Oil & Gas, he states,
"It's all about going into poor-quality rock, which over the last
30 years typically would have been uneconomic to drill vertically.
Horizontal drilling can open up more reservoir rock, connect the
wellbore to more reservoirs, go into tighter sands with multistage
fracture completions and increase recovery factors to increase
reserves and production..."
Companies on the leading edge of this technology will fare
better than companies playing catch up in the coming years.
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