San Antonio — Tens of thousands of new oil and gas wells have been drilled and hydraulically fractured in recent years — part of a shale boom that has spread across the U.S.
Could re-fracking some of those existing wells be the next big trend in the oil patch?
Robert Drummond, president of North America for oil-field service company Schlumberger, said that continually improving fracturing techniques will make companies question whether it makes more sense to spend money drilling a new well or re-frack an existing well.
“The re-frack model going forward will challenge the economics of drilling new wells in some fields,” said Drummond, who spoke at a World Oil breakfast event in San Antonio on Tuesday at the St. Anthony Hotel. More–>