10 Mar '12, 3pm
Drumbeat: March 10, 2012
And just a little correction to the article’s effort to re-write history: "Two years ago it was believed that oil molecules were too large to extract from shale," she said. "But now, new fracking technologies and horizontal drilling has led to the biggest oil boom in many years." FYI: No one except perhaps idiots in the MSM believed you couldn't extract oil from shale formations. The oil patch has produced billions of bbls of oil from fractured shale reservoirs over the last 60 years. Over 30 years ago the hottest drilling play in the US was the Austin Chalk (a fractured carbonate shale) that typically required frac’ng to produce. And about 8 years later the AC was a major horizontal frac'ng target. And what about the hot “new” Eagle Ford shale oil pay in Texas? I personally drilled, frac’d and produced an EF well over 25 years ago. None of that is said to dispute the fact...