Tech improvements are helping producers add barrels, from Reuters:
“The pace of innovation is increasing. Pioneer Natural Resources said it was introducing its third generation of well completion techniques, called version 3.0, using even more sand and water than the super-sized volumes introduced as version 2.0 earlier in the price crash to pull more oil out of rock.” …
“Devon Energy Corp has cut costs to drill and complete new wells by 40 percent and plans to cut $1 billion in costs this year, Chief Executive Dave Hager said on Wednesday.
Roughly half the lower well costs are due to internal technology and efficiency gains, he said, with the rest due to renegotiated contracted with service providers.”
http://www.reuters.com/article/usa-fracking-idUSL1N1AK14N
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