Anadarko jumps on oil shale potential utilizing new technology
Anadarko Petroleum, who holds 700 miles of reserves across thousand of acres of rich wildlife habitat in southwestern Wyoming into Colorado and Utah, is launching an oil shale research program, the first in three decades after the BLM lifted a moratorium on oil shale projects in 2006.
“According the Wall Street Journal, many energy analysts believe that crude prices could soon reach the $100-a-barrel mark seen last year because of two factors: relatively rapid energy consumption growth in emerging markets like China and the fact that much of the world’s easy-to-tap oil is already discovered.”
Anadarko partnered with General Synfuels to test and develop the company’s patented technology, utilizing a process that, according to Luis Lugo, the CEO of Earth Sciences, is environmentally sensitive. General Synfuels will have access to sensitive wildlife habitat and enormous amounts of water. Part of the process involves extreme heat to release crude that has converted back to hard rock.
Estimates are 1.5 trillion barrels of recoverable crude.
Denise Skinner