Unconventional plays invigorate oil and gas industry

On January 26, 2012 — No comments

Unconventional resource plays across the nation are ushering in a new era for oil and gas production in the United States.

These emerging plays are tied to technology, and technology is tied to emerging plays, and together they are driving growth in domestic oil and gas production and America’s economic vitality.

New and evolving technologies like 3D seismic, horizontal drilling and hydraulic fracturing have allowed oil and gas companies to access reserves of previously unrecoverable oil and natural gas. These technologies have allowed access to substantial oil and natural gas reserves that are driving not just the oil and gas industry but America’s energy security and economic outlook.

According to the U.S. Energy Information Administration, these advances mean there is at least six times as much recoverable natural gas today as there was a decade ago, and our nation’s crude-oil imports have dropped below 50 percent. The discovery of about 20 new onshore oilfields over the past few years could collectively increase the nation’s oil output by 25 percent within a decade.

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