FC Posted June 29, 2006 Report Share Posted June 29, 2006 Fritz, I have money invested in a company that closed on "Clayton Field", Live Oak County. They are re-opening old oil wells. Supposedly there is at least 285 million bucks of oil, minimum. Are you familiar with the oil in that area? Quote Link to comment Share on other sites More sharing options...
fritz Posted June 30, 2006 Report Share Posted June 30, 2006 Live Oak County is just west of Bee County, so two counties removed from me. I know that Bee county is experiencing some renewed activity, and I guess so is Live Oak. A lot of the activity here in Goliad County is drilling deeper next to an old oil and gas well, which bottomed at around 9,000'. With the use of the new 3-D seismic they found a very potent formation just a few thousand feet deeper. Seems that where there is shallow oil, there may be deep oil too. They just didn't have the technology to produce that deep stuff until recently. They could drill that deep, but couldn't control it in the old days. There was a very deep well drilled on my land in the 1940s, deep for that day. It bottomed at 13,500' and there was a slight blowout before they plugged it back to 5600' and flowed oil for 5 years, a few barrels a day. At around $4 a barrel. Nobody got rich. With the price of crude so high, there is money to be made in reworking the old wells. At least the ones that have not brought in the Gulf of Mexico, in the way of salt water. Even a few barrels a day at $71/barrel is profitable. fritz Quote Link to comment Share on other sites More sharing options...
FC Posted June 30, 2006 Author Report Share Posted June 30, 2006 I didn't know land rigs went that deep, or even needed to. So there's no way to get the salt out? Quote Link to comment Share on other sites More sharing options...
fritz Posted June 30, 2006 Report Share Posted June 30, 2006 Land rigs have been capable of going down to about 25,000' with the biggest ones. There was a well that deep drilled in the 70s about 10 miles from me. It was just for exploration, to map the deep formations. Shell had a rig next to me in 1982 that went to 18,000' and was dry-holed without perforating. Just for mapping the formations also. Ten years later companies began bringing in gas at 12,500', right where Shell had a minor blowout in the 60s. They couldn't control it in those days. The rig Shell had here was capable of lifting a million pounds of drill stem, that would be more than 20,000' of pipe. As to the salt water intrusion of a well bore, oil and gas is water driven and when the oil and gas is bled off too quickly, the water rushes in. They ain't yet figured a way to fix that yet. Maybe someday, there has been a lot of oil and gas left in the ground because of greedy producers. fritz Quote Link to comment Share on other sites More sharing options...
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