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Reconnaissance Energy (Africa) Ltd V.RECO

Alternate Symbol(s):  RECAF | V.RECO.WT | RCNWF

Reconnaissance Energy Africa Ltd. is a Canada-based oil and gas company. The Company is engaged in the exploration of the Damara Fold Belt and Kavango Rift Basin in the Kalahari Desert of northeastern Namibia and northwestern Botswana. The Company holds interest in a petroleum exploration license no. 0073 (PEL 73) in northeast Namibia and an interest in petroleum exploration rights in northwest Botswana over the Kavango Sedimentary Basin. The Company's exploration license covers an area of approximately 25,341.33 square kilometers (km2) (6.3 million acres) of oil and/or gas exploration properties comprising Blocks 1719, 1720, 1721, 1819, 1820 and 1821 situated in the Kavango Basin of northeast Namibia (the Namibia Licensed Property) and approximately 7,592 km2 (1.88 million acres) in Botswana (the Botswana Licensed Property). The two licenses together comprise over 32,933 km2 (8 million acres).


TSXV:RECO - Post by User

Post by Timberdoodleon Sep 29, 2022 7:27pm
235 Views
Post# 34996299

Why do oil rigs flare ? posted by Croft Productions 2016

Why do oil rigs flare ? posted by Croft Productions 2016

FLARING CAN OCCUR FOR A COUPLE REASONS…

Where you will most commonly see flaring is on offshore rigs due to the rig being so remote. Most times when gas is being flared, it is because that gas is not able to be processed or sold. The reasoning is due to a lack of pipeline infrastructure to trasport the gas to a refinery or processing plant. So your next questions may be, “If there is no pipelines to transfer the gas then why would we drill for it?” Well you see, those companies are drilling for oil but associated gas is often accomanied with the oil. So where do you put the gas when there is no where to store it, trasport it, or use it? You burn it off as unusable gas. So for example, the Bakken is an area that is lacking pipeline infrastructure which it is known to flare a lot of natural gas. According to eia.gov, the North Dakota Pipeline Authority estimates that more than 1/3 of the flared gas is a result from the lack of pipeline infrastructure. 

ECONOMICS

One reason that companies may flare natural gas is that it is simply worth less than oil.  Oil has a higher market value than gas so companies in the Bakken are likely more interested in drilling for oil rather than gas. 

PRESSURIZING

Another reason for flaring is simply for safety. It can be very dangerous if industrial plant equipment, vessels, or pipes over-pressurize. Flaring is a way that can help relieve over-pressuring. 

 

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