Thursday, November 17, 2016

Giant Shale Oil & Gas Find in the Permian Basin




As many readers know I follow the oil & gas industry closely and keep a keen eye on the shale oil & gas revolution. Many may also recall that I grew up in West Texas and spent considerable time roughnecking all over West Texas and eastern New Mexico. 

A recurring theme when drilling oil and gas wells in the Permian Basin in the 80s was the exciting surrounding the "kick" that occurred when you drilled through the Wolfcamp Shale formation. When you drilled through that formation you were bound to experience a gas kick of some kind, but as my dad explained, "After the initial kick there wasn't enough gas coming out of the pipe to light a cigarette!" In those pre-fracking days the goal was deeper deposits and the Wolfcamp Shale was a nuisance.

My how the times change! The USGS report linked below identifies 20 billion barrels of continuous oil in the Wolfcamp shale along with another 16 trillion cubic feet of natural gas. The oil industry has been drilling in the Permian Basin since the 1920s and the Yates Oil Field, on the far eastern edge of Pecos County and just outside the southern edge of the Permian Basin, has wells that have been producing oil continuously since 1926.

To read more follow THIS LINK.

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