Wyoming’s Big Oil Discovery Is Almost Impossible To Get To
An estimated 2 billion barrels or more worth of oil has been discovered deep under Natrona & Converse counties in Wyoming.
But there are a couple of things that will make getting at most of that oil impossible at this time.
1). Government over regulations from the Biden administration could stop us from going after that oil at all.
2). If we are allowed to drill, current technology will prevent us from getting at most of it.
Canadian Overseas Petroleum Limited (COPL), commissioned a consultant, Ryder Scott Company, to look at the feasibility of getting at that black gold.
Their findings suggest that only a fraction of that oil is recoverable with current technology.
“There’s really a misunderstanding between resources and reserves,” Arthur Millholland, COPL’s president, and CEO, said during a call with investors on Monday.
It's not just about sucking the oil out of the ground. Pressure must be created to do this. The oil is located deep - deep down. The math on how to accomplish providing that much pressure for pumping at that depth is the issue.
This is where it gets difficult with today's current drilling and extracting techniques.
That does not mean that we still can't get a lot of oil out of there. But currently, these companies don't know how to recover most of it.
Having said that, technology is always advancing.
It was not too long ago that most of the world's oil was out of reach, then fracking was invented.
Now we have access to hundreds of years worth of oil in just North America alone.
So here's hoping that government will get out of the way so we can extract what we can now.
Then technology will improve to let us get at the rest of it.