Post by
Irishmantoo on Jun 17, 2021 7:32am
I think 5% is very light:)
Oil recovery from conventional reservoirs vary significantly from field to field, but the worldwide oil recovery is at an approximate average of 30%–35% of the IOIP (initial oil in place) (Fragoso et al., 2018).
Comment by
Hotshot85 on Jun 17, 2021 8:41am
you are correct, but this 30% takes into account Enhanded Oil Recovery methods. waterflood, injection etc. depending on rock characteristics and reseviour pressures you typically run in the 5-10% range for Initial oil recovery. RECo is hoping to target pressured traps that will not require fracing or stimulating in anyway initially.