MIDLAND, TX (KWES) - Research done with the University of Texas of the Permian Basin could help reach oil in the Basin that has never been reached before.
"This horizontal drill technology and the stimulation's of the wells that new technology is associated with completions of wells, has really opened up a whole new field of endeavor and the Permian Basin is leading the world at it," said Midland engineer Steve Melzer.
Melzer was the guest speaker at Thursday's meeting of the West Texas Geologist Society.
In his presentation, he stressed that all of the new advances in the oil industry, have allowed local drillers to access oil reserves that were unthinkable just a decade ago.
"Oh clearly, yeah.," said Melzer. "There's oil that we wouldn't even think of trying to produce before that we're able to produce commercially today. I think it's going to spread from the Permian Basin to other areas around the U.S. for sure and maybe the world. But the conditions in the U.S. are just amazing."
Melzer praised the hard work and know-how of West Texas, saying that despite the downturn, the Permian Basin is still the epicenter for innovation in the oil industry.
"Most of the innovations in the oil and gas business in the last 20 years have come from the Permian Basin," said Melzer. "A lot of other people take credit for them, but really the original ideas were here. So it's a great place to be. I tell all the young engineers and geologist that I meet that it's a wonderful opportunity for them. It's just the place to be."
Melzer did add though there are technological advances taking some jobs away from the fields, he does think there will be plenty added as well, so there should be no drop off.