Recent Technological Innovations
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Red River Securities, LLC, Oil & Gas Exploration & Development, Plano, TX

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    Technological Advancements Over Time

    Nostalgic for the past? Below are a few of the ways how the oil and gas industry has changed over time – from the way things were in 1985 to how much better they are today.

    • 22,000 fewer wells are needed on an annual basis to develop the same amount of oil and gas reserves as were developed in 1985.
    • Had technology remained constant since 1985, it would take two wells to produce the same amount of oil and natural gas as one 1985 well. However, advances in technology mean that one well today can produce two times as much as a single 1985 well.
    • Drilling wastes have decreased by as much as 148 million barrels due to increased well productivity and fewer wells.
    • The drilling footprint of well pads has decreased by as much as 70 percent due to advanced drilling technology, which is extremely useful for drilling in sensitive areas.
    • By using modular drilling rigs and slim hole drilling, the size and weight of drilling rigs can be reduced by up to 75 percent over traditional drilling rigs, reducing their surface impact.
    • Had technology, and thus drilling footprints, remained at 1985 levels, today's drilling footprints would take up an additional 17,000 acres of land.
    • New exploration techniques and vibrational sources mean less reliance on explosives, reducing the impact of exploration on the environment.
    • Source: www.naturalgas.org/environment/

    For additional information on developments in natural gas technology visit the following sources:
    NaturalGas.org
    United States Department of Energy
    National Energy Technologyn Lab
    Oil & Gas Journal


     

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  • Disclaimer: This content is provided for informational purposes only. Information herein is not intended to be a solicitation of any kind. Nothing herein shall be construed as tax, legal or accounting advice. Investing in oil and gas is highly speculative and could result in substantial losses. Potential investors should consult their attorney, accountant and financial advisors before investing in oil and gas. Past performance is not a guarantee of future performance or returns.