Barnett Shale Oil is
Gas shale well productivity varies widely by basin, due to variations in the natural fracturing, richness of the shale, net thickness, and initial rates. The major change has been in well completion and operating methods, which have led to increase per well reserves. Gas may be further categorized as in-situ generated-reservoired or as migrated gas. Fundamental geochemical characteristics of the petroleum system and type of gas must be determined to map favorable production fairways (sweet spots). Gamers are multi-taskers and independent thinkers; boomers are linear. This is a gross generalization, but numerous books and articles have been published, so people are tending to perceive and believe that there is a difference.
EOG also announced a similar oil discovery in Colorado and a big natural gas play in Canada. EOG’s proved reserves in the play at December 31, 2007 were 1.4 Tcfe.
Operators are paying up to $26,000 per acre for a 3 year lease with 25% royalties. This was just the beginning. Operators are exploring for gas in Hill County, which has had no commercial production for years. Westside and Forest Oil are now the drilling the horizontal section of a third well, the Primula 2H.
Read more at Barnett Shale Oil
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