Shale drillers are going for long - not deep - wells in the oil patch
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
New York
LONG is the new deep. Just ask SM Energy Co, which on Tuesday spent US$1.6 billion to expand its acreage in America's most prodigious oil patch, the Permian Basin.
The unique geologic makeup of the Permian, consisting of multiple layers of oil- and gas-trapping shale that span hundreds of kilometres, is well suited for a technique that's allowing producers to pull more crude out of fewer wells. Explorers there are drilling longer and longer wells, running thousands of feet sideways to tap as much of the crude-bearing rock as possible.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
