Irving, TX, December 22, 2009 --(PR.com
)-- Breitling Oil and Gas Corporation, an independent producer based in Irving, Texas, announced the availability of new 3-D seismic interpretation and filtering technology developed exclusively by the company, which increases the likelihood of pinpointing - with greater than 86 percent accuracy - sizeable oil reserves still available in portions of the Hardeman Basin that were previously thought to contain no commercial-scale hydrocarbons.
The proprietary technologies, called Breitling Geo3D represent an advance in filtering techniques for seismic data that can detect small vertical movements along fracture planes. This technology allows Breitling to see where hydrothermal solutions have leached and dolomitized and created enhanced porosity and permeability. Further, the technology allows Breitling to detect what overlooked “chimney” features that are apparent on 3D seismic but un-detected by normal interpretation.
Using Breitling Geo3D, a filtering process that helps better define prolific sections of the Mississippian Chappel formation, Breitling is now able to create a more accurate drill grid that can detect small (300 foot wide) chimney structure and indicate where and where not to drill. Additionally, by using Breitling Geo3D the company is able to pinpoint water, in and around the dolomite structure and avoid it, thus increasing the chances at making a producing well by 90%.
In a recent case study, Breitling ran data for a well-developed oilfield that has produced over 2,000,000 barrels of oil since 1986 and thought to be completely depleted. The Breitling Geo3D technology was able to identify 9 new prolific producing locations that were thought to originally be within already depleted zones. Had Breitling Geo3D technology been available during the time the field was developed in the mid-1980s, it would have correctly predicted the new prolific producer locations 27 locations that have been drilled and found to be non-commercial. Because the Breitling technology was not available, the area was drilled using a hit-or-miss approach. As a result, a high number of non-commercial wells were drilled in and around the Breitling lease.
Breitling is now employing its new technologies to significantly reduce the odds of dry holes, starting with the BREITLING-STAR #1.
Historically, dolomite anomalies within the Mississippian Chappel have not been identifiable using traditional geological and geophysical models. For this reason, it is very common in the area for several prolific producers to be surrounded by non-commercial wells. Using the new Breitling Geo3D filtering process, which combines structure, amplitude and coherencies, Breitling can create a grid indicating where and where not to drill thus lowering the risk to its investor base.
"At a time where exploration costs remain high and investor risk tolerance remains low, it is especially critical to invest in current and develop new technologies to maximize our ability to know where to and where not to drill," Chris Faulkner, CEO of Breitling said. "Oil and Gas has been slow to adopt technology and it’s no longer a “drill a hole in the ground’ industry. We will use every technology out there and develop new ones to ensure we know where the oil and gas are before the rig ever hits the lease.”
The company has filed for a United States Patent on the technology.
About Breitling Oil and Gas Corporation
Breitling Oil and Gas was founded in April 2003 to apply state-of-the-art petroleum and natural gas exploration and extraction technology to the development of onshore oil and natural gas projects. Our focus areas include Texas, Oklahoma and Louisiana. Breitling offers oil and gas investment opportunities through direct participation programs and oil and gas investment joint ventures which enable investors to participate in the potential cash flow and unique tax benefits associated with oil and gas investments. Especially important in a downturned economy, oil and gas investments allow savvy investors to diversify and reinforce their investment portfolios with a stable commodity that is in steady demand.