SOURCE: Industrial Info Resources

Industrial Info Resources

August 27, 2014 06:15 ET

Oil & Gas Leaders Swap Ideas to Boost Recovery Rates in Unconventional Formations, an Industrial Info News Alert

DENVER, CO--(Marketwired - Aug 27, 2014) - Written by John Egan for Industrial Info Resources (Sugar Land, Texas) -- Increasing recovery rates in unconventional formations could add enormous amounts of oil and gas to U.S. reserves. At the oil & gas industry's current 5% average recovery rate, the nation's four largest oil-prone unconventional formations -- Eagle Ford, Bakken, Permian and Niobrara -- have about 42 billion barrels of recoverable reserves. But increasing recovery rates by 20% -- from 5% to 6% -- would boost reserves by 8.3 billion barrels.

Within this article: Details on recovery rates and their impact on the Oil & Gas Industry, with comments from attendees at the Unconventional Resources Technology Conference (URTeC) in Denver, including those from such companies as SM Energy Company (NYSE:SM), Chevron Corporation (NYSE:CVX), IHS Incorporated (NYSE:IHS), Continental Resources Corporation (NYSE:CLR), Newfield Exploration Company (NYSE:NFX), EOG Resources Incorporated (NYSE:EOG), Noble Energy Incorporated (NYSE:NBL).

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