E A Third Dimension In Oil Production

There is a much talk about the shale revolution in oil production but perhaps shale is not the only answer. While a lot of money is moving into shale projects, one company is moving away from it. A company called Petro River (OTCBB: PTRC) believes that conventional oil production is still the most economical method but adds a 21st Century twist. A twist that if successful, could put shale oil production to shame. Think of it as some unconventional thinking on conventional oil production or perhaps a new dimension: a third dimension. Petro River's plan is to reduce the cost of oil production to below the cost of shale production with the motto that 3D seismic technology is the new production frontier.  

I recently had the opportunity to speak with Scot Cohen, the Executive Chairman of Petro River. He reminded me of the type of person that has the same spirit that came to define the U.S. oil industry. Cohen has the desire and vision to look at the status-quo and then look for a way to do things better and more efficiently. He has the heart of a wildcatter, but one he says, that is backed with incredible new technology.

While many are throwing money at the shale revolution with its promise of quick returns, in a world of growing global oil demand, the shale may not be the best or enough of the answer. Shale oil production, with its high decline rate and relatively prohibitive costs, may not be able to stay afloat, especially with the amount of leverage and debt that many shale operations have. Not to mention the inability to withstand downturns in the market and the price of oil.

Scot Cohen has played the shale game and realized that there must be a better way. Instead of embracing shale production that will grind to a halt if prices crash, he looked for an alternatives solution So, like those who originally started the shale revolution by combining the technology of the old and the new, Cohen and Petro River decided to do something different by thinking outside of the proverbial box and look at the conventional unconventionally. How? By using 3D seismic imaging technology where it has rarely, if ever, been used before.

Petro River’s current drilling projects in Oklahoma and California can have significant upside for the small company and can prove their application of 3D seismic to conventional drilling. 

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Disclosure: This article is part of a new “UnderCovered” series of exclusive articles featuring companies with limited coverage. Authors are compensated by TalkMarkets for their time, and ...

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Bruce Powers 1 year ago Member's comment
Wall St. Wolf 1 year ago Member's comment

What do you think about $PTRC oil discovery news. finance.yahoo.com/.../...-oil-field-120000219.html. 2.5M barrels=110M value? possible 6x return here

Kurt Benson 1 year ago Member's comment

I made a good call buying $PTRC after reading this. Stock has been way up!

Justin Vargos 1 year ago Member's comment

I wonder if it's too late to get on the $PTRC bandwagon. Wish I had bought in when I first read the article.

Bruce Powers 1 year ago Member's comment

Good stuff. Bullish on $PTRC

Doug Morris 1 year ago Member's comment

Very impressive. I plan to be taking a closer look into $PTRC. Thanks for tipping me off to this company Phil Flynn, I wasn't previously aware of them.

Danny Straus 1 year ago Member's comment

Interesting stuff, but can someone explain the significance of the seismic images in the article? It's beyond my level of expertise.

Barry Hochhauser 1 year ago Member's comment

Intriguing article. Scot Cohen, how did you first get the idea to utilize 3D technology in this fashion? I expect it will pay off in spades.

Alpha Stockman 1 year ago Member's comment

I agree. I'd like to take a deeper look at $PTRC, but there doesn't seem to be much info out there yet. Can any one refer me to additional articles on this company?

Carol Klein 1 year ago Member's comment

Very smart for $PTRC to ecorporate #3D imaging into the drilling process. Why aren't other companies doing this?

Corey Gaber 1 year ago Member's comment

Maybe other companies are, I'd like to know either way. Phil Flynn or Scot Cohen, is $PTRC the only #oil company doing this?

Bill Johnson 1 year ago Member's comment

Fascinating, I admit I've never heard of #PetroRiver before this article. But I'd like a better understanding of what 3D seismic imaging is. Where can I learn more about how/why this will give Petro River an edge over the competition in #oil production? $PTRC