Description
CO2 tertiary recovery was initiated in the Permian Basin in 1972. Since then, it has been successfully implemented throughout the Permian and other oil productive basins of the United States and the world. Today over 140 mbod of Permian production is associated with CO2 floods. With prices of $100/bbl, what are the new engines of growth for this proven method of enhanced recovery? What are the new sources that will be utilized? Where are the new reservoirs to be targeted? Will the recent advances in horizontal drilling and fracture technology play a role? Are there recent developments in existing floods that will impact future demand? What are the capital needs/barriers for new CO2 floods – is small scale feasible? Is the infrastructure in place to take advantage of these opportunities?