..it's all the same, yet down hole fraccing WILL become more common place, if only to eliminate dusters. So enthusiastic are Range Resources, that they plan to use 'fraccing' on nearly every prospect....so in future, I EXPECT every RNS to begin with these words....
"WE ARE 'EXTREMELY' PLEASED TO ANNOUNCE......"
===========================================================
This revolutionary 'hydraulic shale fracturing' is proving to be a complete success every time it is used. It makes sense to me. Imagine, when an explosion occurs deep into the drilled well, the whole sub-stata becomes fractured and any gas trapped in pockets forces its way under huge pressure into the only 'escape route' available...the drill hole! This in turn would enable oil to be extracted/pumped easier under its own pressure. In the last update yesterday....Peter Landau is trying to tell us something?
However the markets and investors are too slow to respond to this 'earth shattering news' (pun intended)! When they do, AND begin to realise the significance of the 'hydraulic fracking system'...and how it will greatly increase the recovery of both oil and gas volumes...Puntland Georgia and Trinidad could then become targets for further increased gas/oil volumes much higher than previously estimated.
Failure is not an option, and I'll let you into a little secret that only a few insiders KNOW, plus about every oil/gas expert on the planet.
A friend of a friend put this into my ear recently (she works for a very well known gas Co.)...there are 'plans' for thousands of ABANDONED oil/gas WELLS worldwide to be re-assessed and re-worked for possible extraction of the trillions of cu/ft of gas and literally millions of barrels of oil that is believed to have been present, but missed due to unfavourable drilling conditions! But for the 'introduction' of hydraulic shale fracking, this was never going to be an option....a well abandoned, is still there, plugged and capped, ready for hydraulic fracking and suctioning, in vast oil/gas volumes from areas in the surrounding encatchments. A prospect akin to the re-working of old mine slag heaps, different process but the principle is the same.
Range resources are not the first to use this fracking technique, those that are, have all reported 'significant oil/gas' increase in volumes!
http://www.rangeresources.com.au/fileadmin/user_upload/asx/Company_Update_270511.pdf
Add to My Watchlist
What is My Watchlist?