Nature Of Shale Becoming Evident In Oil & Gas "Boom" - The Return Of The Red Queen
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The rapid decline rates in shale wells suggest that oil and gas molecules are moving just a short distance out of the pores created in hydraulic fracturing, the process of injecting sand and water into formations to unlock trapped hydrocarbons.
That’s far removed from the days when producers at conventional reservoirs could soak up oil from hundreds of miles away because of the sandstone’s natural porosity and permeability, Potter said.
In North Dakota, the oil-rich Bakken Shale’s daily production from new wells is projected to jump 89,000 barrels of oil per day this month, but aging, depleting wells are expected to drain 63,000 barrels from the region’s production – about 20,000 barrels more than the decline from old wells a year ago, according to the Energy Information Administration.
And while South Texas’ Eagle Ford Shale is projected to produce 116,000 barrels of oil a day this month, production from the region’s older wells will decline by 83,000 barrels. That’s double last year’s daily depletion rate. Oil and gas analysts say, however, that old shale wells will be able to produce – albeit, at a fraction of its original production – for decades.
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http://fuelfix.com/blog/2013/12/17/shale-well-depletion-raises-questions-over-us-oil-boom/
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