How Core Labs Helps Oil Producers Get More for Less

The video discusses how new technologies can enhance oil extraction from unconventional reservoirs, particularly in the Permian Basin. It highlights the economic benefits of increasing production with minimal additional costs and explores the challenges of adopting these technologies in the field. The discussion also covers the future potential and limitations of these technologies, emphasizing the importance of good reservoir rock for economic viability.

What is the main benefit of using new technology in oil production as discussed in the first section?

• Reducing the cost of drilling new wells

• Increasing the natural production rate of reserves

• Boosting the production curve for higher returns

• Decreasing the environmental impact of oil extraction

What is the key technological advancement mentioned in the second section for enhancing oil extraction?

• Seismic imaging

• Horizontal drilling

• Engineered gas injection

• Hydraulic fracturing

What is a significant challenge in implementing new oil extraction technologies in the field?

• High cost of technology

• Lack of skilled labor

• Ensuring proper containment of injected gas

• Environmental regulations

What method is used to ensure that injected gas goes where it is intended?

• Implementing tracer technology

• Increasing the pressure of injection

• Applying hydraulic fracturing

• Using advanced drilling techniques

In which stage of adoption is the new oil extraction technology currently?

• Fully adopted

• In its infancy

• In decline

• Widely used

What is a potential limitation to the growth of oil production in the Permian Basin?

• Shortage of skilled workers

• Environmental concerns

• Poor quality of reservoir rock

• Lack of investment

What issue arises from wells being spaced too closely together?

• Wells interfering with each other

• Reduced drilling costs

• Higher environmental impact

• Increased production rates