2 Replies

  • It's great to see the innovations continue in the oil & gas industry. From the article:

    "Longer term, EOG has something even more exciting up its sleeve. In its latest quarterly report, the company revealed that over the past three years it has been conducting experiments in four pilot projects in its Eagle Ford shale play, where it has separated out natural gas produced alongside oil and reinjected the gas down dedicated well bores in order to add more pressure to the reservoir, thus pushing more oil out. EOG says that where it works best they’ve seen 30-70% more oil production out of each well. According to analyst Housley Carr of RBN Energy, EOG’s technique has low capital intensity, costing just $1 million per well and generating an after-tax rate of return of 50% at $50 oil."

  • In reply to Jim Cahill:

    Jim,
    It is nice to see a little light at the end of the tunnel. Innovation is the driver that will get us through the current market and make the current oil prices profitable. It is great to be part of a company that is driving not only innovation to make it in this market but to also make America stronger in the world economy.