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Peakoil.com :: View topic - Signifigant Secondary Oil Recovery Report
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Signifigant Secondary Oil Recovery Report
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TheAntiDoomer
Tar Sands
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Joined: Jun 18, 2008
Posts: 23

PostPosted: Tue Jul 08, 2008 1:37 pm    Post subject: Signifigant Secondary Oil Recovery Report Add User to Ignore List Reply with quote

Rock well to float in London
Quote:
A report from independent reservoir engineers DeGolyer and MacNaughton estimates proven and probable reserves on Rock Well’s US onshore acreage at just 2m barrels using conventional recovery but 323m using the mining method. That yields a net asset value of $3.7bn for the eight fields where Rock Well’s stake cost $54m to acquire.

I'm surprised I beat Oil Finder to this one. Wow taking a 2 million barrel field and turning it into a 323 million barrel field. The implications are enormous.
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Cashmere
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Joined: Mar 27, 2008
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PostPosted: Tue Jul 08, 2008 1:56 pm    Post subject: Re: Signifigant Secondary Oil Recovery Report Add User to Ignore List Reply with quote

323 million barrels?

Are you serious?

And this, to you, is an "enormous development"?

Let me help you with a little math . . .

323 million barrels for the whole field divided by U.S. usage of 20.6 million barrels per day is . . .

15.6 days of U.S. usage.

Is your ____________ enormous in this way as well?
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TheAntiDoomer
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PostPosted: Tue Jul 08, 2008 2:08 pm    Post subject: Re: Signifigant Secondary Oil Recovery Report Add User to Ignore List Reply with quote

Dude, this field is ONE example!!!! In this example a field that would normally yeild 2 million barrels can yield over 200 million barrels. Now apply this tech to the thousand of fields on the planet. Geesh, that wasn't so hard was it?
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TheDude
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PostPosted: Tue Jul 08, 2008 2:16 pm    Post subject: Re: Signifigant Secondary Oil Recovery Report Add User to Ignore List Reply with quote

It seems to be SAGD applied to conventional reservoirs. This obviously will only be applicable to very shallow fields. Note that they've only identified 250 in the US to apply this technique to. If I read this right that's 323 mb divided amongst the 5 fields in their acreage, too. Why they don't just drill horizontal wells and hydrofrac is another question - probably they're coming from the conventional mining industry and this is what they're good at. Roc or ROCK perhaps know more about this outfit.

Rock Well
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Nicholai
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Joined: Jun 15, 2007
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PostPosted: Tue Jul 08, 2008 2:22 pm    Post subject: Re: Signifigant Secondary Oil Recovery Report Add User to Ignore List Reply with quote

TAD, you're so right! I mean, the waiting list for offshore oil rigs is only 25 years! It only takes 10 years to get any major oil production out of a well, and by that time oil should only be at $500 a barrel. Man if I were you, I wouldn't be going to any ecovillages any time soon...you're going to be just fine Wink
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KevO
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PostPosted: Tue Jul 08, 2008 2:56 pm    Post subject: Re: Signifigant Secondary Oil Recovery Report Add User to Ignore List Reply with quote

TheAntiDoomer wrote:
Dude, this field is ONE example!!!! In this example a field that would normally yeild 2 million barrels can yield over 200 million barrels. Now apply this tech to the thousand of fields on the planet. Geesh, that wasn't so hard was it?


you're new here aren't you?

on Earth that is
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basil_hayden
Intermediate Crude
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Joined: Aug 08, 2005
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PostPosted: Tue Jul 08, 2008 3:02 pm    Post subject: Re: Signifigant Secondary Oil Recovery Report Add User to Ignore List Reply with quote

Let me get this straight, excuse the imperfect analogy.

Now we're proposing to pick apples by drilling under the tree, through the center of the trunk and branches, so the apples can roll down to the bottom of our trunk hole where we can pump the apples to the store?

Sounds like apple sauce to me, not apples.
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KingM
Heavy Crude
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Joined: Aug 30, 2005
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Location: Second Vermont Republic

PostPosted: Tue Jul 08, 2008 4:35 pm    Post subject: Re: Signifigant Secondary Oil Recovery Report Add User to Ignore List Reply with quote

basil_hayden wrote:
Let me get this straight, excuse the imperfect analogy.

Now we're proposing to pick apples by drilling under the tree, through the center of the trunk and branches, so the apples can roll down to the bottom of our trunk hole where we can pump the apples to the store?

Sounds like apple sauce to me, not apples.


Does it burn in my car engine and heat my house in the winter? If so, I don't care if it's pears or kumquats.
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KingM
Heavy Crude
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Joined: Aug 30, 2005
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PostPosted: Tue Jul 08, 2008 4:36 pm    Post subject: Re: Signifigant Secondary Oil Recovery Report Add User to Ignore List Reply with quote

Of course, the production by 2020 is supposed to be 20,000 barrels per day. Increase that by 100 fold and then we'll talk.
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eXpat
Intermediate Crude
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Joined: Jun 08, 2006
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PostPosted: Tue Jul 08, 2008 4:52 pm    Post subject: Re: Signifigant Secondary Oil Recovery Report Add User to Ignore List Reply with quote

TheAntiDoomer wrote:

...I'm surprised I beat Oil Finder to this one. .

Do you guys work in the same place??
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Plantagenet
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PostPosted: Tue Jul 08, 2008 5:51 pm    Post subject: Re: Signifigant Secondary Oil Recovery Report Add User to Ignore List Reply with quote

Its a nice idea, but does it actually work?

There isn't much info on the company's website except some curious pictures of mine shafts, none of which show any oil dripping in from the ceiling.

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Zardoz
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PostPosted: Tue Jul 08, 2008 5:58 pm    Post subject: Re: Signifigant Secondary Oil Recovery Report Add User to Ignore List Reply with quote

Plantagenet wrote:
Its a nice idea, but does it actually work?

There isn't much info on the company's website except some curious pictures of mine shafts, none of which show any oil dripping in from the ceiling.

I smell an investment scam.
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AlexdeLarge
Intermediate Crude
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Joined: May 20, 2008
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PostPosted: Tue Jul 08, 2008 6:03 pm    Post subject: Re: Signifigant Secondary Oil Recovery Report Add User to Ignore List Reply with quote

TheAntiDoomer wrote:
Dude, this field is ONE example!!!! In this example a field that would normally yeild 2 million barrels can yield over 200 million barrels. Now apply this tech to the thousand of fields on the planet. Geesh, that wasn't so hard was it?


Hang in there AntiDoomer! Don't let the Doomers get you down. Sometimes it gets depressing shining your AK and hiding rice all day!
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americandream
Light Sweet Crude
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Joined: Oct 18, 2004
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PostPosted: Tue Jul 08, 2008 6:50 pm    Post subject: Re: Signifigant Secondary Oil Recovery Report Add User to Ignore List Reply with quote

Snakeoil, snakeoil for sale!

Cures all known maladies. Money back, guaranteed!
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killJOY
Fission
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Joined: Feb 21, 2005
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PostPosted: Tue Jul 08, 2008 7:51 pm    Post subject: Re: Signifigant Secondary Oil Recovery Report Add User to Ignore List Reply with quote

Nice. Interesting development. I wish them luck.

...



I'm still growing my own food.
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