Energy education: High-impact oil well activity to rebound this year after 2021 slump
When we talk about high impact oil wells, we refer to all those oil wells that can be drilled with the intention of adding to the list of wells that contribute to the world's oil production.
As we all know, the year 2021 was a year in which oil production decreased significantly due to the low existing demand, as the normality among the population recovered as a result of the covid-19 vaccines and herd immunity, the world demand for oil is increasing considerably, This is why it is necessary to add more wells to the production list, once the prospective wells are selected we proceed to drill and these wells can increase and regulate the market according to the supply and demand of oil, this does much good to the world economic system as it stabilizes prices and makes them less speculative.
These high impact wells can be defined as critical wells in the sense that they are of great importance to increase the production of hydrocarbons worldwide, among other aspects that have been improved in the drilling of high impact oil wells in relation to last year, is that for this year there has been an effectiveness of 47% in getting it right after drilling that have been wells containing oil and natural gas, while last year there has only been an accuracy of 28%, this is largely due to the fact that the technology applied to reservoir engineering has improved considerably to accurately predict wells containing oil and natural gas.
It can be categorically stated that by the end of this year, the total world production resulting from the drilling activity of these high impact wells may even exceed 1.7 billion barrels of oil equivalent (boe), a very positive sign for world hydrocarbon production.
Technology and engineering are key factors, since their evolution in terms of innovation and progress can progressively increase the percentage of success in the probabilities that after the drilling activity these wells will contain oil and/or natural gas.
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High-impact well activity to rebound this year after 2021 slump