America’s domestic freight carriers of bulk crude oil have to keep the oil moving to destination in the United States for the gears of industry, business and life to continue in America and the world. The crude oil must continue to flow in America for the present time, if we’re to keep the wheels of business greased, and eventually change over to alternate forms of renewable energy, but the change-over is going to have to be gradual for it to be feasible.
ExxonMobil is one dometic freight shipping firm of crude oil operating on the waters of this great nation that has been busy keeping the oil flowing in America. ExxonMobil has been busy working on new ways to increase production from its existing wells, of late, rather than concentrating on finding new sources of oil, which still have to be developed.
ExxonMobil appears to be having some success in increasing production from its existing wells, which considering the number of wells in production in the United States, could represent a significant volume of crude oil, if their new ideas work to increase production in America’s existing wells.
ExxonMobil announced the other day that it has completed the world’s longest extend-reach oil well from an existing fixed platform, which according to ExxonMobil will increase their ability to produce barrels of oil from the company’s Santa Ynez facility off of Southern California. Sources indicate the well platform in question to be the Heritage platform, which now extends more than 9.65 kilometres (six miles) horizonally and more than 7,000 feet below sea level, using ExxonMobil’s Fast Drill technology. ExxonMobil claims that its Fast Drill technology improves drilling rates by up to 80 percent and decreases the cost of drilling.
Reports around the freight shipping industry of the United States indicate that ExxonMobil might be able to produce an additional 5.8 million barrels of oil using this new extended reach well. This is equal to the yearly energy consumption of about 144,000 Californians, from a well that has already produced more than 450 million barrels of domestic oil for America.