With oil prices making only a slight rebound in the past week and energy companies have idled rigs and made layoffs into the tens of thousands nationwide, some of those same companies are looking at improvements in their fracking technology.
As Reuters recently reported, those top U.S. shale producers, Oklahoma companies among them, are pushing fracking technology to new extremes to get more oil out of their wells. As a result, such companies as Devon and Continental Resources might be able to speed production of oil if and when prices ever recover.
What are the companies doing? Some are exploring the use of carbon dioxide to get more oil out of the shale plays even after the wells have been hydraulically fractured. Others are moving their high-speed drilling rigs to the “sweet spots” where they know oil will be found. Slower rigs are idled. Some of the energy companies are increasing their concentrations of frac sand and chemicals.
Read full story about Devon, Continental Resources and others.
Reuters
