Energy Industry
Industry: Email Alert RSS FeedMonitoring Could Save Marginal Oil Wells.
Energy Optimization News, February, 2005
A new, ultra-low cost method for monitoring marginal oil wells promises to help rescue thousands of U.S. wells from an early demise. Developed with funding from the Department of Energy (DOE) and project-managed by DOE's National Energy Technology Laboratory, this novel, inexpensive, monitoring-system prototype helps improve the efficiency of rod-pumped oil wells. The ultimate payoff for such an approach could be the recovery of millions of barrels of oil otherwise permanently lost while the United States watches its oil production continue to slide. More than 75% of all oil wells in the United States are classified as "stripper wells," producing less than 15 barrels per day. Despite their small volumes, they add up. The over 400,000 stripper oil wells in the United...
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