What is Exploration and Production?
Exploration and Production, also referred to simply as "E&P" is found in the "Upstream Oil and Gas" sector, and is the process of discovery, drilling and producing oil and natural gas.
Sometimes referred to as the 3rd phase of oil and natural gas exploration and production following the land disposition (oil and natural gas lease(s) or mineral lease(s) and seismic testing, exploration and production activities then determine where on the property to drill an "exploratory" oil and/or natural gas well.
What is Enhanced Oil Recovery?
Enhanced Oil Recovery, also called "EOR" is the 3rd and last stage of oil recovery.
When an oil well is first completed and oil production begins, this is called the primary oil recovery stage. Anywhere from 5% to 15% of the "original oil in place" (OOIP) in the oil well's reservoir is recovered via "natural" reservoir drive, meaning natural forces drive or displace the oil into the production well's well bore.
The secondary oil recovery stage is where additional production measures are installed wherein anywhere from 10% to 30% of the original oil in place is recovered.
When the secondary oil recovery stage is complete - and ready for Enhanced Oil Recovery - 55% to 85% of the original oil in place remains. The Department of Energy and many industry experts are on record in stating that Enhanced Oil Recovery has the potential to recover up to 60% of the remaining 55% to 85% - which means that Enhanced Oil Recovery has the potential to recover up 300 Billion barrels of oil. At $100/bbl, Enhanced Oil Recovery represents a $24 Trillion to $30 Trillion market opportunity (in the U.S.A.).
Global revenues from "Enhanced Oil Recovery" production now exceed one trillion dollars/year. According to a recent report from energy research publisher SBI, the market for worldwide Enhanced Oil Recovery production will reach $1.3 trillion/year by 2015. http://www.sbireports.com/about/release.asp?id=2863
The United States has 300 Billion Barrels of Oil that we could recover through
Enhanced Oil Recovery Technologies according to the Department of Energy.
Enhanced Oil Recovery technologies would solve our trade deficit problems, create thousands of new jobs, and save the U.S. economy almost $400 billion/year and end our reliance and dependence on foreign oil suppliers.
At the same time, sequester billions of tons of Carbon Emissions, as Carbon Dioxide though an Enhanced Oil Recovery known as CO2-EOR. When an oil well or oil field reaches the end of its normal life, as much as 75% of the "original oil place" is still left underground in the oil wells. That's because recovering previously non-recoverable oil is either too difficult or too expensive, or both. It has been estimated that by recovering just 1% of the previously non-recoverable oil through Enhanced Oil Recovery technologies, that this would produce about 30 billion additional barrels of oil within the USA's mature oil fields.
America Needs America's Oil!
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Enhanced Oil Recovery
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“spending hundreds and hundreds and hundreds of billions of dollars every year for oil, much of it from the Middle East, is just about the single stupidest thing that modern society could possibly do. It’s very difficult to think of anything more idiotic than that.”
~ R. James Woolsey, Jr., former Director of the CIA
According to R. James Woolsey, for Director of the Central Intelligence Agency, “The basic insight is to realize that global warming, the geopolitics of oil, and warfare in the Persian Gulf are not separate problems — they are aspects of a single problem, the West’s dependence on oil.”
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