Monday 22 June 2020

Oil forecasting technique adapted for spreadsheets may cut shale operator costs



Oil forecasting technique adapted for spreadsheets may cut shale operator costs


Porous rock containing oil and natural gas are buried so deep inside the earth that shale operators rely on complex models of the underground environment to estimate fossil fuel recovery. These simulations are notoriously complex, requiring highly-skilled operators to run them. These factors indirectly impact the cost of shale oil production and ultimately, how much consumers pay for their fuel.

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