What's new in production

Source rock reservoirs (SRRs) have a normal productive life of 20 to 30 years. Compared to conventional oil and gas reservoirs, SSR wells experience more rapid decline, because they typically have low permeability and limited reservoir contact. When the so-called “shale revolution” (a tired phrase) began around 2008, there wasn’t a lot of experience at work—it was a trial-and-error, perf-and-pray situation. A lot of the early wells paid off, and the numbers speak for themselves. Since the beginning, over a million oil and gas wells have been hydraulically fractured, and the pace continued through 2014, with something like 35,000 new wells fractured every year, according to FracFocus.

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