New Oil Extraction Techniques Used to Decrease Production Costs

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New Oil Extraction Techniques

As chief executive officer of a Texas resource investment business, Ken Goggans has overseen the acquisition and management of oil and gas production companies. Kenneth Goggans has been involved in a number of high-profile oil and gas M&A transactions, including a $250 million Woodbine deal and a $275 million Eagleford deal. Throughout his decade in the business, Ken Goggans has emphasized healthy returns on investment while implementing the latest technologies and business practices.

As reported in the Wall Street Journal in 2015, low oil prices over the past several years have unharnessed innovative energy exploration routes that are generating more efficient extraction techniques. When prices exceeded $100 per barrel, the emphasis was simply on pumping oil as fast as possible. With prices at half that, data analytics are being combined with technologies to ensure that wells are being produced as cost effective and efficiently as possible.

In addition, refracking older less productive wells with advanced techniques while industry service prices are low has proven to be worth the investment.