Paul Favret Talks About Oil Wells and Oil Drilling

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An oil well basically is a boring in the earth and is designed to bring petroleum oil hydrocarbons to the surface. Typically, natural gas is also released along with oil. Oil wells are created by drilling down into an oil reserve that is then mounted with an extraction device. Devices like a pumpjack are commonly used to facilitate extraction from the reserve. Oil wells are quite commonly sold or exchanged between different oil and gas companies as an asset. Paul Favret is responsible for founding a company called Resource Energy. Through three prior public company purchases, this firm acquired a stake in more than 384 wells in its first year.

Oil Wells and Oil Drilling

Paul Favret offers a general understanding of oil wells and the oil drilling process

Before a well is drilled, a geologic target has to be identified either by a geophysicist or geologist to meet the objectives of the well. Production wells are chosen on the basis of optimizing production from the well, and managing reservoir drainage.  Exploration or appraisal wells, on the other hand, are selected to confirm the existence of a viable hydrocarbon reservoir or even learn its extent. In the case of an injection well, the target is selected to locate the point of injection in a permeable zone. A frame-rig are most commonly used today for oil wells, especially in exploratory missions

All oil wells have to be drilled before equipment can be arranged around the whole. A heavy bore is used for creating a hole anywhere from six inches to three feet wide. The sides of the well tend to be reinforced with a casing made from diverse materials in layers. The oil well pump apparatus is meant to sit on top of the well, where oil removed from below gets directed to one side. This entire “production tree” almost looks like a horse from the side. It has components with names to match. The bridle helps in connecting the rod pushing vertically down into the well. It is then connected to the head of the production tree, which redirects force horizontally along a walking beam. A series of elaborate levels, gears, and pulleys are used to lead to the prime mover. The prime mover basically is the source of mechanical power at the opposite end of the production tree.

Paul Favret mentions that there are multiple techniques used to drill oil wells today.  Extracting oil that is oriented in a mostly sideways direction in relation to the ground is the focus of horizontal drilling.  This is the situation that mostly is observed in rock shale owing to the way the rock itself forms. It ideally fractures sideways under high pressure.

A horizontal oil drilling unit has a J-shaped pattern. Therefore, the operators need to figure out how far to drill straight down before heading more horizontally. After the depth is ascertained, the very next step is the find the right angle to optimize access to the oil below and to one side.

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