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Developments with unconventionals

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Thursday, January 24, 2019
The Geological Society

The move from conventional to unconventional oil and gas has been compared to the move from hunting from gold nuggets to looking for gold dust. There are 'unconventional' resources everywhere, the question is whether they can be produced for a low enough cost compared to the value of the hydrocarbons.

So far we've seen unconventionals transform the US economy - with the benefit of technology innovation, reasonably good reservoirs, big open spaces and a mineral rights system which incentives landowners to allow fracking on their land. The UK can benefit from US technology, but there is an open question about the other three.

Unconventionals doesn't just mean onshore fracking though - it can also mean offshore fracking or even offshore steam oil production.

And meanwhile it would help oil people everywhere to keep up with the technological develpoments happening in the US - including much bigger use of data analytics and 'factory style' processes to keep new hydrocarbons coming online.

We'll review the developments in our Jan 2019 unconventionals forum.


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