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"As Thomas Reed, chief executive of JKX Oil & Gas Plc, pointed out at last week's International Petroleum Week conference in London, horizontal drilling and hyd
by davidf18 10y ago
"As Thomas Reed, chief executive of JKX Oil & Gas Plc, pointed out at last week's International Petroleum Week conference in London, horizontal drilling and hydraulic fracturing have both been in use in the oil industry for around 50 years. What is really new is not just combining the two techniques in a single well but, more importantly, the industrialization of the process of drilling and completing wells.
The long lead-times, complex development plans and huge up-front capital requirements associated with conventional oil fields simply don't apply in the shale sector."