Just on the topic of valuations, i was flicking through an older...

Just on the topic of valuations, i was flicking through an older article (Jun'17) around the industry's efforts to improve unconventional recoveries. I notice our presentations estimate around 13% of OIP, however work done using Enhanced Oil Recovery (EOR) techniques suggest an increase in potential recoveries of between 30 and 70%.

Wouldn't that be nice!

"We have done this on existing wells," says Ehmer. "It is highly economic and we see a production response in three to four months and believe it adds 30% to 70% additional reserves to the original (estimated ultimate recovery)."​

In a May 2016 conference call, EOG chief executive Bill Thomas was quick to point out that every shale basin is unique and that what worked in one shale may not work in others.​

"Geology matters," he said. "The Eagle Ford is unique. The EOR process we are using to produce incremental oil out of the Eagle Ford is not necessarily applicable to other horizontal basins...."​

I guess the relevance around it for me was Eagle Ford, and PB's association there. Of course no point increasing a EUR if the ecomomics don't add up. I wonder if that's why our internal recoverable resource assessments were 30% higher than D&M's?

Anyhoo, here's the article.

http://www.upstreamonline.com/upstreamtechnology/1275866/tackling-the-tight-oil-recovery-challenge