Oil is undoubtedly one of the prime driving forces of the 21st century economy. It essentially is used to power a range of varied applications. However, one must note that not all oil is created equal. Oil actually comes in multiple varieties, and is known to be sourced from a range of different wells. People who invest in oil wells have the potential to make a lot of money. Paul Favret is known to have successfully acquired over 115,000 acres and also is interested in more than 384 additional wells from past business purchases as the former CEO and founder of Resource Energy.
Some oil wells can exclusively produce oil, while there are others that produce both oil and natural gas. As natural gas is a common by-product of oil production in many sites, a proper strategy has to be put in place to manage its presence. An oil well basically is a hole that is dug into the earth, which helps in bringing oil or other hydrocarbons like natural gas to the surface. Oil wells may even bring water up with the other petroleum products.
There are a number of ways that an oil well can be drilled for the purpose of maximizing the output of the well, and reducing associated expenses. The most common type of well drilled in the current times is known as a conventional well. These wells are drilled in the traditional sense, which implies to a location selected above the reservoir. The well is ideally drilled downward vertically. Moreover, wells having a small amount of deviation in their path from the vertical are also considered to be conventional. Such slight turning of the well is usually obtained during drilling by the use of a steerable device that helps shift the shifts in the direction the well is being dug.
Paul Favret mentions that horizontal wells are an alternative well type that is generally used when conventional wells are unable to yield enough fuel. These wells are drilled and steered so that they can enter the deposit nearly horizontally. They additionally are able to hit targets and stimulate reservoirs in ways that a vertical well can’t. Previously unproductive rocks can be used as sources of natural gas when combined with hydraulic fracturing. Examples of such deposits include formations that feature tight gas or shale gas.
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Other types of wells include offshore wells. These wells are drilled in the water, rather than being on shore. Off shore wells can provide access to previous inaccessible oil deposits. Multi-lateral wells are also used at times. They have multiple branches off of the main borehole that drains a distinctive part of the reservoir.
Specialized equipment is needed to drill an oil well, so that it manages to drill a while through several layers of rock and dirt, to ultimately reach the oil and gas reservoir where the oil is held. To cut through the rocks, the drill is pushed down by the weight of the piping above it. To know more about oil drilling, people can always explore the web.
