Will Shale-EOR add another leg of unconventional upside? The topic jumped into the ‘Top 10’ most researched shale themes last year, hence we have reviewed the opportunity in depth. Stranded in-basin gas will improve the economics to c20% IRRs (at $50 oil). Production per well can rise by 1.5-2x. The theme could add 2.5Mbpd to 2025 output.
Pages 3-5 review the theory of shale EOR. Its recovery factors could in principle surpass conventional EOR.
Pages 6-7 review lab results and field trials. They have been promising, suggesting >1.5-2x production uplifts should be attainable.
Pages 8-10 review the economics in detail. Our full model is informed by technical papers, and can be downloaded here.
Page 11 tabulates key statistics for using CO2 as a huff-n-puff injectant, the economic opportunities for carbon capture, but also the challenges.
Pages 12-13 attempt to quantify the production upside from shale EOR, by adapting our basin models.
Pages 14-15 cover the remaining challenges, including E&P patent-filing insights.
Page 16 lists a handful of companiesat the forefront of shale-EOR, including some earlier-stage start-ups.