Utah Farmout - Horizontal Wells
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Tar Sand Triangle It is located between the Dirty Devil and Colorado Rivers in Wayne and Garfield Counties. The Tar Sand Triangle is the largest deposit of oil sands in the United States known today. It contains about 6.3 billion barrels of heavy oil, but is thought to have originally held more.
Using data from the U.S. Energy Information Administration researchers found that out of all U.S. states with at least one million barrels, Utah has the 12th most crude oil proved reserves. Utah has 275 million barrels of crude oil proved reserves, with five operating refineries.
Utah Inland Rig Count is at a current level of 13.00, down from 14.00 last week and up from 12.00 one year ago. This is a change of -7.14% from last week and 8.33% from one year ago.
Utah has the fourth-highest number of producing oil and natural gas leases on federal lands, after Wyoming, New Mexico, and Colorado.
One of the benefits of Utah's diverse geology is a wealth of petroleum resources. Three oil-producing provinces exist in Utah and adjacent parts of Wyoming, Colorado, and Arizona?the thrust belt, Paradox Basin, and Uinta Basin.
Hydraulically fractured horizontal wells account for most new oil and natural gas wells. In 2016, hydraulically fractured horizontal wells accounted for 69% of all oil and natural gas wells drilled in the United States and 83% of the total linear footage drilled.
Horizontal wells are used in situations where the reservoir is abnormally shaped, or excavation is impossible. Horizontal drilling is preferred over vertical drilling due to its ability to access subsurface reservoirs that are not accessible from directly above.
The total number of horizontally drilled wells has increased 67.9%, from slightly less than 99,000 wells in 2014 to about 166,160 wells in 2021. Oil and natural gas wells drilled horizontally through hydrocarbon-bearing formations are among the most productive wells in the United States.
