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Two years of tests at an initial pilot project in the Bakken — and more recent results from a second test — show that injecting water into formations being tapped by nearby horizontal wells with multiple fracture stimulations can help boost recovery from about 10 per cent to 30 per cent of oil in place
* Crescent Point plans four more pilot projects throughout the field over the next year
* Water flood technology is not really new. What’s new here is applying the water flood to a tight rock reservoir which, to analyst Kyle Preston’s understanding, hasn’t been done very successfully in the past
* Crescent Point had 320 million barrels of reserves at the end of 2009 and the increased recovery could add 500 million barrels to their reserves.
* Forcing water into the well builds pressure underground to push more oil out of surrounding wells, a technique commonly used in conventional oil plays.
* Saxberg said the company is also experimenting with cemented liners on the horizontal part of the wells instead of steel pipe, allowing adjustments in the number of fractures as the well ages.
* Petrobakken does not believe in water flooding
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Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.