Technology has and will continue to transform the oil and gas industry in 2015.
U.S. unconventional oil and gas activity, which has transformed the United States into a potential liquefied natural gas exporter and a significant oil producer, has been made possible by innovations in hydraulic fracturing and horizontal drilling technology.
The oil and gas industry has faced a learning curve in terms of how to best produce shale oil and gas. The technology and learning curve effects that the operators, service providers and drilling contractors have put in place have achieved has substantially improved the breakeven point of shale plays, said Vance Scott, partner and leader of the Americas energy practice at global management and strategy consulting firm A.T. Kearney.
Technological advances have improved the breakeven economics on wells for both shale oil and gas wells, to the point where some companies are able to drill economic dry gas wells with break-even prices of between $2 and $2.50/Mcf. The economics have improved due to operators making better decisions on fluid choices, rigs and pressure pumping.
“It’s not so much a single point technology as it is the integration of technologies and how they bring those together.”
This article has been extracted from https://www.rigzone.com, please click on this link to read the article in full https://www.rigzone.com/news/oil_gas/a/136449/Oil_Gas_Technology_Trends_to_Look_For_in_2015
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