Replies to post #8599 on Double Crown Resources Inc. (fka DDCC)

[magicman]

all to the good for ddcc, more product will be needed which they can supply to operators for this.

[ProfitScout]

Is This The Next Major Step In Offshore Drilling?

By Charles Kennedy

Link: http://finance.yahoo.com/news/next-major-step-offshore-drilling-150532954.html

July 16, 2015

Subsea 7 announced on July 13 that it has agreed to form a global alliance with OneSubsea, forming a partnership to build subsea oil and gas production systems.

OneSubsea is a company formed by Cameron International and Schlumberger, two offshore oil service companies. It builds subsea production systems, which consist of equipment installed at the bottom of the ocean floor that produce oil and gas, and then pipe the hydrocarbons to a ship located at the surface of the sea.

The alliance between Subsea 7 and OneSubsea will allow for them to “jointly design, develop and deliver integrated subsea development solutions through the combination of subsurface expertise, subsea production systems (SPS), subsea processing systems, subsea umbilicals, risers and flowlines systems (SURF) and life-of-field services,” Subsea 7 said in a press release.

[ProfitScout]

Twice As Nice: Refracking By The Numbers
Wed, 07/15/2015
Meagan Parrish, Editor

Link: http://www.manufacturing.net/news/2015/07/twice-as-nice-refracking-by-the-numbers

Called refracking, this new technique is basically what it sounds like. Wells that have already been drilled are re-blasted with water, sand and chemicals to form new fissures deep below the earth’s surface that unleash oil and gas reserves. Some worry that refracking only speeds up the flow from existing wells — and that it doesn’t produce new output. But its low cost has made refracking an attractive gamble for drillers looking for a deal in this low-cost oil market.

Here’s a look at this emerging trend and why drillers are coming back to frack.

$8 million = The cost of fracking a new well.

70 percent = The output decline rate in the first year of a newly fracked well.

$2 million = The cost of refracking an existing well.

$20 = The price per barrel extraction from a refracked well, compared to $40-50 from a new well.

50,000-100,000 = Wells in the U.S. that could be re-stimulated, depending on whom you ask.

A few hundred = The number of wells that have been refracked in the U.S. Some expect that number to climb to 3,000 over the next two years and for it to be 11 percent of all hydraulic fracking in the U.S. by 2020.

Cinco de Fraco = Industry slang for a well that’s been fracked five times. When it’s been fracked eight times, it’s referred to as an “Octofrac.”

60 percent = The recovery rate increase in oil for some wells that are refracked.

30 percent = The increase in oil production from 80 wells in the first month after being refracked, according to a studyby Bloomberg Intelligence that looked at wells originally tapped between 2008 and 2009 in the Bakken.

50 percent = The drop in oil prices over the past year.