|By Marketwired .||
|August 27, 2014 06:15 AM EDT||
DENVER, CO -- (Marketwired) -- 08/27/14 -- Written by John Egan for Industrial Info Resources (Sugar Land, Texas) -- Increasing recovery rates in unconventional formations could add enormous amounts of oil and gas to U.S. reserves. At the oil & gas industry's current 5% average recovery rate, the nation's four largest oil-prone unconventional formations -- Eagle Ford, Bakken, Permian and Niobrara -- have about 42 billion barrels of recoverable reserves. But increasing recovery rates by 20% -- from 5% to 6% -- would boost reserves by 8.3 billion barrels.
Within this article: Details on recovery rates and their impact on the Oil & Gas Industry, with comments from attendees at the Unconventional Resources Technology Conference (URTeC) in Denver, including those from such companies as SM Energy Company (NYSE:SM), Chevron Corporation (NYSE:CVX), IHS Incorporated (NYSE:IHS), Continental Resources Corporation (NYSE:CLR), Newfield Exploration Company (NYSE:NFX), EOG Resources Incorporated (NYSE:EOG), Noble Energy Incorporated (NYSE:NBL).
For details, view the entire article by subscribing to Industrial Info's Premium Industry News, or browse other breaking industrial news stories at www.industrialinfo.com.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the www.industrialinfo.com "Contact Us" page.
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