(Editor's Note: Investors should be mindful of the risks of transacting in illiquid securities such as ALVOF. Alvopetro's listing in Canada, ALV.V, offers stronger liquidity.)
International Horizontal Development - Still Stuck In Neutral
Source of image: EOG Resources June Company Presentation
The North American onshore energy business has had a massive resurgence thanks to the implementation of horizontal wells combined with multi-stage fracturing. These techniques were first applied to successfully produce shale gas economically and have subsequently been used to liberate oil trapped in shale and tight rocks.
It is hard to believe, but at the time the financial crisis of 2008 hit the total daily oil production in North America from horizontal oil wells was under 200,000 barrels per...
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