There’s a saying in the oil patch. You can find oil with old ideas in new places, or with new ideas in old places. The “new ideas” of fracking horizontal laterals is extremely expensive, usually costing more than 10 million dollars per Well. As a small independent oil company, we don’t spend that kind of money.
Crestwood Energy uses “new imaging technologies” to find by-passed, over-looked reservoirs in old fields. Old geologists will tell you that the best place to find oil is inside a known field. Keep it simple.
To find hydrocarbons, Crestwood thinks of it this way. We’re not using a rotary phone to make a call, we’re using an iPhone 4.