Oil Investment

Written by Tara Peris
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Oil investments increasingly focus on enhancing technology at the well. The reasoning behind this is quite straightforward: the more oil you can get from a well, the more you will profit from your oil investment. As recent data suggest that many stripper and marginal wells are subject to being abandoned before their time, many investors have focused their efforts on innovative new techniques designed to get the most from these wells.

There are a number of older well sites that appear to be on the brink of drying up. However, scientific data suggest that they are far from dry, and that significant quantities of oil do indeed remain. Consequently, a challenge has rested in finding ways to access and extract this oil.

The Role of Engineering in Your Oil Investment

A primary approach has been to explore refurbishment and renovation alternatives. These efforts have relied heavily on something called value engineering. This is essentially a cost-effective way to assess and address well malfunction without blindly cutting costs. It may include a functional analysis of different aspects of the well and their respective costs and benefits in order to prioritize renovation tasks.

There remains a great deal of crude oil to be harnessed, and although exploratory drilling is an integral aspect of the field, the renovation of aging pumps should not be overlooked. In order to maximize an oil investment, new engineering technology should be employed to help you meet both goals.

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