How Oil Reservoir Optimization Methodology Brings Positivity in the U.S. Petroleum Industry

The goal of this paper is to study how modern oil reservoir optimization methodology in the U.S. leads to improved productivity, reduced cost of operation, and less environmental footprint. One of the well known oil well optimization technique widely used in the United States nowadays is the horizontal (directional) drilling with Hydraulic Fracturing (Fracking). Pros: Capability to increase production rate by just using a single well bore. Less well bores also mean significantly reduced operational costs as well as labor. Less environmental footprint. Another optimization method is the waterflooding technique where the water is injected down toward the reservoir. This method is also known as the secondary phase which can extract up to 40% of the oil/gas from the reservoir. The tertiary phase is known as the enhanced oil recovery method. This method uses CO2 (Carbon Dioxide) to be injected down into the reservoir. Question that needs to be answered: Are these techniques worth the investment? Will application of these technique brings oil company to a brighter future? Please include any relevant data.

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