The Enhanced Oil Recovery Lease Bank (EORLB) FUND
Everyone in the oil and gas industry knows that Enhanced Oil Recovery (EOR) is a burgeoning sector of the energy market with enormous upside potential. An EOR project starts with an oil lease or farm out on property that formerly produced a great deal of oil. In the industry it is precarious to seek a drilling partner on a high potential site without control of the lease as a great number of them will merely immediately lease up the acreage themselves or have friends take it up, which in many cases may be worth tens of millions of dollars -- being profits and money that they unfairly get rather than us.
Robert D. Hunt organized The EOR Lease Bank (EORLB) as a FUND to purchase drilling rights that will be operated as an EOR blind pool that he manages in order to gain firm control of millions of barrels of shallow oil reserves that he has already identified and/or will locate. My Hunt and his associates INVOLVED WITH THE PROJECT, such as Geologist, Landsmen, and the Legal Staff, will be the only persons to know the identity of the leases until after they have been acquired and announced to EORLB members.
After gaining the lease rights to a specific site, The EOR Lease Bank will then go to a number of potential drilling partners to put the wells in place at their expense with the oil bearing leases in hand and thereby being in control of these valuable underlying oil reserves.
Enhanced Oil Recovery (EOR) is the process of going back into old oilfields that were once large producers during primary recovery with new technology that typically allows the recovery of about as much oil as was originally produced from the field, which can then produce new oil for over a decade. EOR is much less expensive because the reservoir sands are at reasonably shallow depths and because expensive fracking is generally not required in the process. Also there is a much higher success rate in EOR because it is known that the oil reserves are there because primary recovery normally produces less than twenty percent of the oil in place.
The Department of Energy (DOE) has estimated that full use of “Next Generation” CO2-EOR in the United States could generate an additional 240 billion barrels (38 km3) of recoverable oil resources.
The estimated EOR recoverable barrels from old oilfields in Texas alone is estimated to be between 10.3 to 23.4 billion barrels as shown on the chart below with only the Texas Permian Basin having seen any significant amount of EOR activity at present mainly due to the presence of CO2 pipelines.
The Principals of The EOR Lease Bank have the oil and gas and EOR experience and scientific qualifications in evaluating the potential of these old oilfields in regard to enhanced oil recovery. Mr. Hunt, the Executive Director of the organization holds a number of important pending patents in the EOR field in regard to CO2 miscibility and in regard to harnessing natural gas from methane saturated brine.
And, he has extensively studied the issue of onsite CO2 production methods and has developed several proprietary means of doing so. As well as unique ultra-shallow CO2 miscible CO2 EOR methods that work on shallow fields less than 4,000 foot of depth. Conventional EOR using CO2 injection typically requires oil bearing reservoirs of greater depth and pressure in order to create miscibility. Obviously the drilling cost reduces with decreasing depth and consequently the required rig size. And, usually they need a CO2 pipeline to supply CO2.
Further, Mr. Hunt has developed geothermal submersible pumping systems that dramatically reduce the costs of EOR operations, which are basically large pumping systems that move fluids through the reservoir in order to flush out the remaining oil. The processes that he has developed help to increase production, reduce costs and makes EOR more environmentally friendly by beneficially using the renewable energy heat of the earth to drive the process without the need of electrical power that is expensive and creates emissions.
Mr. Hunt, along with his affiliates and advisors, have the unique expertise and experience to professionally evaluate and to exploit these old oilfields with vast proven oil reserves.
EORLP is interested in hearing about new potential EOR locations or about farm outs leases from Geologists, Landsmen and Land Owners. We further invite Drillers and / or Operators to review our acquired EOR leases as potential drilling sites. We have located and hold the leases to great prospects that have never been drilled adjacent to highly productive fields the we acquired for EOR.
The EOR Lease Bank is an excellent way to get into the EOR oil business with limited capital, especially if you are not an EOR expert yourself or perhaps not even in the oil business. It is also a good way for persons Worldwide to profit from the United States (our current market area) Oil and Gas Industry that now produces 6% of America’s crude oil and is growing rapidly.
Spread the word about The EOR Lease Bank. Send this to your friends and associates. And, if you are not already a LinkedIn Contact, please send me an invitation to connect with you. I enjoy meeting new people and learning from what they have to say.
Join Robert D. Hunt on LinkedIn at the Link below:
Website Address: www.eorleasebank.com