Sensor Technology Allows Better Visibility in Tracking Fluids
According to the U.S. Department of Energy, 218 billion barrels of bypassed oil remains in the continental U.S. states at depths of less than 5,000 feet.
System Acts as MRI for Measuring Field Properties
GroundMetrics’ systems can see in between and far beyond wellbores, providing multi-mile resistivity imaging. The company’s systems have a depth capability of more than 10,000 feet and a lateral range of over 2 miles from the boreholes.
On conventional oil fields, GroundMetric’s technology measures electric field properties, determining whether fluid is conductive – which indicates water – or oil, which is resistive. Eiskamp compares it to taking an MRI.
“We can increase a company’s drilling rate success by enabling them to identify fluid types,” said Eiskamp. “We can also show them oil and water barriers and movement so they can get the most production. That’s how we compare and contrast with normal seismic.”
GroundMetrics’ technology has been successfully tested on five oil fields, and has received positive reviews from independent parties. Last year, Chevron Corp. outlined in a public presentation the benefits the technology would have on hydraulic fracturing, with returns of 5 to 20 percent by optimizing frac fluid pumping. This doesn’t include savings realized from drilling fewer wells, which is a major cost saver.
By using this technology, Eiskamp estimates the industry could realize savings of more than $20 billion per year.
Eiskamp said GroundMetrics’ solution has great potential for hydraulic fracturing treatments, given the limitations of existing technology – microseismic, tilt, and tracer technology.
12345
View Full Article
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Rooftop Solar Now 4th Largest Source of Electricity in Australia
- US Confirms Reimposition of Oil Sanctions against Venezuela
- EU, Industry Players Ink Charter to Meet Solar Energy Targets
- Analyst Says USA Influence on Middle East Seems to be Fading
- Russian Ships to Remain Banned from US Ports
- Brazil Court Reinstates Petrobras Chair to Divided Board
- EIB Lends $425.7 Million for Thuringia's Grid Upgrades
- Var Energi Confirms Oil Discovery in Ringhorne
- Seatrium, Shell Strengthen Floating Production Systems Collaboration
- An Already Bad Situation in the Red Sea Just Got Worse
- What's Next for Oil? Analysts Weigh In After Iran's Attack
- USA Regional Banks Dramatically Step Up Loans to Oil and Gas
- EIA Raises WTI Oil Price Forecasts
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Venezuela Authorities Arrest Two Senior Energy Officials
- Namibia Expects FID on Potential Major Oil Discovery by Yearend
- Oil Markets Were Already Positioned for Iran Attack
- Is The Iran Nuclear Deal Revival Project Dead?
- Petrobras Chairman Suspended
- Oil and Gas Executives Predict WTI Oil Price
- An Already Bad Situation in the Red Sea Just Got Worse
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil and Gas Execs Reveal Where They See Henry Hub Price Heading
- Equinor Makes Discovery in North Sea
- Macquarie Strategists Warn of Large Oil Price Correction
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Standard Chartered Reiterates $94 Brent Call
- Chevron, Hess Confident Embattled Merger Will Close Mid-2024
- Analysts Flag 'Remarkable Feature' of 2024 Oil Price Rally