New Techniques Could Draw Billions Of Barrels From Aging Oil Reservoirs

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New Techniques Could Draw Billions Of Barrels From Aging Oil Reservoirs

Tuesday, January 6, 2009 at 08:50PM

Bill Andrew says it clearly enough: "I guarantee you that the next 50 years will be better for western Canadian oil and gas producers than the last 50," says the CEO of Penn West Energy Trust. "Only now are we getting technology that's really well-suited to our sedimentary basin." In particular, Andrew is encouraged by what he believes is the world's first multiple-stage frac horizontal well to be used for waterflooding in enhanced oil recovery (EOR). And the Calgary-based trust is now drilling an equally innovative horizontal well for CO2 injection.

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