Sentences with phrase «oil basins»
"Oil basins" refers to underground areas or regions that contain significant amounts of oil. It describes geological formations that are rich in oil and are usually targeted for exploration and extraction by the oil industry. Full definition
The final issue is just how much oil is left in the Permian and other shale oil basins that can be produced at wherever oil prices go.
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Fortescue Metals Group's decision to not become involved in gas exploration in the Canning Basin via listed company Oil Basins has enabled Melbourne - based explorer Octanex to get a foot in the door.
The late - 19th - century hand - drawn map below illustrates Pennsylvania's Venango County oil basin, and shows locations of wells throughout three counties in the northwestern part of the state.
Quickly get those oil rigs off oil basins and onto GEOTHERMAL drilling missions.
I am too lazy to search for the source information, but I recall that discovery of a major shale gas / oil basin in central CA was announced recently by the USGS.
The government and the oil producers rarely if ever discuss this issue so it is left to a handful of independent observers to point out that the rapid increases in shale oil production these days is coming from a limited number of «sweet spots» which yield much more oil quickly than can be found in other parts of the shale oil basins.
While some oil basins, such as those found in Alaska and Eagle Ford, have started to see a decline in production, the Gulf of Mexico and Permian basin still continues to produce millions of barrels per day.
Through Carbon Capture and Enhanced Oil Recovery (EOR), previously unreachable oil is made available when the CO2 emitted by fossil fuel plants is pumped into the oil basin, where it is captured underground within the local geology.
Collectively, at the time of launch, the participating companies represent operations in every major U.S. natural gas and oil basin.