ConocoPhillips COO on IEA Projections, Production Plateaus, Parent/Child Wells

The video discusses the growth of US oil production and its potential as a major exporter. It covers the life cycle stages of oil fields, focusing on the Bakken, Eagle Ford, and Permian regions. The use of gas injection techniques, specifically Huff and Puff, is explored to enhance oil recovery. The video also addresses the challenges of parent-child well interactions and introduces new technologies to improve well spacing and recovery factors.

What is the current status of the Bakken play according to the discussion?

• It is in the early stages of development.

• It has reached a production plateau.

• It is experiencing rapid growth.

• It is declining in production.

What is the purpose of using gas injections in the Eagle Ford?

• To enhance the quality of natural gas.

• To reduce the cost of oil production.

• To improve oil recovery in shallower parts.

• To increase the natural gas content in oil.

What is the 'Huff and Puff' technique used for?

• Drilling new wells.

• Reducing oil production costs.

• Injecting gas to improve oil recovery.

• Measuring oil compressibility.

What challenge is associated with parent-child well interactions?

• Higher gas emissions.

• Increased drilling costs.

• Reduced oil recovery.

• Longer drilling times.

What is the goal of the 'Vintage Five' completion technique?

• To increase the speed of drilling.

• To lower the cost of oil extraction.

• To enhance the quality of natural gas.

• To reduce parent-child well interactions.