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Hidden Gems of Reservoirs Yield Rich Returns
Focusing on reservoir and oil quality reveals significant opportunities in petroleum extraction. The proximity of two oil pools enables operational efficiencies, which help reduce both operating and capital costs. The advantageous reservoir quality negates the need for fracking and facilitates cost-effective extraction. Historical insights indicate a lack of pressure maintenance in these pools, presenting a unique opportunity for enhanced oil recovery through techniques like water injection. Horizontal drilling has proven more effective than vertical drilling in optimizing recovery, yet this method had remained unexplored in the acquired assets. The previous extraction effort had only tapped into a mere 3-4% of the oil in place, highlighting the considerable potential for further recovery in these undervalued assets.