U.S. DOE, Oil and Gas Developers Optimize Traditional Drilling Methods
Friday, 05 September 2014
The United States Department of Energy (DOE), major oil and natural gas developers and non-profit groups collaborated to develop a new drilling method to generate natural gas and oil from organic rich rocks such as Marcellus and Utica shale.
The technique originated from George Mitchell’s horizontal drilling method through, which large quantities of natural gas are extracted from deep shale reservoirs. The federal government improved the technique through a highly skilled workforce, in-place infrastructure, and new completion technologies.
This technological improvement would not only provide greater opportunities for natural gas production but also bring profitable changes and benefits to oil and gas companies. With the advent of horizontal drilling and completions, communities are now buzzing with jobs related to drilling numerous horizontal wells, installation of new pipelines, building of compressor stations, and extract marketable liquids needed by the petrochemical industry.
Another benefit of this drilling method is the increase of state severance and county property taxes in West Virginia and other states in the U.S region, where taxes are calculated as a percentage of gross revenue and are charged to producers under the imposing state. State mineral owners were also granted lease bonuses of thousands of dollars per acre.
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