Shale drillers continue to innovate:
“The unique geologic makeup of the Permian, consisting of multiple layers of oil- and gas-trapping shale that span hundreds of miles, is well suited for a technique that’s allowing producers to pull more crude out of fewer wells. Explorers there are drilling longer and longer wells, running thousands of feet sideways to tap as much of the crude-bearing rock as possible.”
The mother of invention:
“Cash-strapped Chesapeake Energy Corp. has pushed out its laterals 31 percent to average about 8,000 feet this year in Texas’s Eagle Ford shale and is targeting 10,000 feet in the Haynesville shale centered in Louisiana, according to Bloomberg Intelligence.
Still, the unofficial record set by Eclipse Resources Corp.’s Purple Hayes well in Ohio may stand for a while. At 18,544 feet, the super lateral, as Eclipse calls it, has exceeded expectations even at current oil prices, Chief Executive Officer Ben Hulburt said by phone.”
Here is the Bloomberg article:
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