New technologies are slowly coming up to cater for the fluctuating oil distribution in the world. Fracking technology companies are the ones behind this. They are designing technologies which will make extraction of oil and natural gases much easier. The new techniques are using pressure to drill through rocks to the oil deposits.
These technologies have the ability to reduce the cost of extraction or production by huge margin. A drop in the production cost will also result in a drop in the global oil prices. Some countries have localized(made it their own) the use of this new application. They include: the countries in Middle East and the US.
This technology has already been verified that it will work in the following countries: Canada, Mexico, Poland, Middle East, Argentina, Russia, and Mexico. With time this new application of scientific knowledge is expected to be used in lots of different countries which have oil deposits. Some of the petroleum service companies that are expected to embrace this technology include: Halliburton, Schlumberger, and Baker Hughes.
This technology includes lots of inventions which are in the experimental phase. Some of these ideas will include: "Super Fracking". This idea will result in a large amount of oil being extracted over an extended period of time. It also will involve the use of fibre alongside hard grains in order to keep the cracks, where oil pass, open for a longer duration. This will ensure oil flow through the crack at a constant rate.
RapidFrac is also another idea which involves the use of special pipe fitting which goes into a drilled hole. These pipes will act as valves in that when a section of the pipe is activated it will act as an open passage on the rock. There are two types of pipes used, one will be used to work on a section of specification that was gained while drilling and the other one will act as an isolator. This is a very complicated program but has an ability of cracking a vast volume of petroleum reserve.
This application of scientific knowledge is associated with many benefits. This include: use of less time in the extraction and also use of less amount of water. It will also lead to maximum efficiency as well as economical use of resources.
This fracking business is currently engaged in by two major companies and other up and coming small companies. This could be a very useful and beneficial investment for people who may decide to join. This is due to crash in the oil and also legislation of new laws by different states, this could be a very lucrative business.
This technology has helped firms, like JPMorgan Chase project, register a drop in the price of extracting oil. It has been recorded that the firm reduced the cost of production from $2.5 million to $750,000. This drop is approximately a 70% drop. This is attributed to use of the new technologies.
The U. S is also gaining massive benefits from the use of this technology. U. S is producing petroleum finished products at a reduced cost. By use of this technologies US is expected to continue gaining profits by a very big margin. With time, this innovation will definitely be taken up by lots of countries and companies.
These technologies have the ability to reduce the cost of extraction or production by huge margin. A drop in the production cost will also result in a drop in the global oil prices. Some countries have localized(made it their own) the use of this new application. They include: the countries in Middle East and the US.
This technology has already been verified that it will work in the following countries: Canada, Mexico, Poland, Middle East, Argentina, Russia, and Mexico. With time this new application of scientific knowledge is expected to be used in lots of different countries which have oil deposits. Some of the petroleum service companies that are expected to embrace this technology include: Halliburton, Schlumberger, and Baker Hughes.
This technology includes lots of inventions which are in the experimental phase. Some of these ideas will include: "Super Fracking". This idea will result in a large amount of oil being extracted over an extended period of time. It also will involve the use of fibre alongside hard grains in order to keep the cracks, where oil pass, open for a longer duration. This will ensure oil flow through the crack at a constant rate.
RapidFrac is also another idea which involves the use of special pipe fitting which goes into a drilled hole. These pipes will act as valves in that when a section of the pipe is activated it will act as an open passage on the rock. There are two types of pipes used, one will be used to work on a section of specification that was gained while drilling and the other one will act as an isolator. This is a very complicated program but has an ability of cracking a vast volume of petroleum reserve.
This application of scientific knowledge is associated with many benefits. This include: use of less time in the extraction and also use of less amount of water. It will also lead to maximum efficiency as well as economical use of resources.
This fracking business is currently engaged in by two major companies and other up and coming small companies. This could be a very useful and beneficial investment for people who may decide to join. This is due to crash in the oil and also legislation of new laws by different states, this could be a very lucrative business.
This technology has helped firms, like JPMorgan Chase project, register a drop in the price of extracting oil. It has been recorded that the firm reduced the cost of production from $2.5 million to $750,000. This drop is approximately a 70% drop. This is attributed to use of the new technologies.
The U. S is also gaining massive benefits from the use of this technology. U. S is producing petroleum finished products at a reduced cost. By use of this technologies US is expected to continue gaining profits by a very big margin. With time, this innovation will definitely be taken up by lots of countries and companies.
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