This quote might hurt your brain for the first couple of reads, but once the ifs, ands, or buts fall into place it makes extraordinary sense:
“We usually find gas in new places with old ideas. Sometimes, also, we find gas in an old place with a new idea, but we seldom find much gas in an old place with an old idea. Several times in the past we have thought that we were running out of gas, whereas actually we were only running out of ideas.”
- Adapted from Parke A. Dickey by American Potential Gas Committee.
World panic has been driven by the belief that we are running out of oil and gas. That is because the number of new proven oil fields has dropped. The oil giants give the illusion that they move into tap new fields, exhaust them, and move on. If that were true we would indeed be in serious trouble.
But the fact is that the big boys are performing only primary and secondary oil recovery. Their infrastructures are costly, so their bottom line is much higher than smaller companies following behind them to enact tertiary recovery.
Don’t mistake these efforts as being the same as birds gleaning a harvested field where the best has already been taken. The oil fields abandoned as “exhausted” may actually have as much as 70 to 80% of the original reservoir still untapped.
Smaller companies such as Team Resources Inc have moved into the areas, snapped up these abandoned lease holdings, and are implementing new strategies and technologies to harvest the vast reserves still underground. And they have found that the US is far from running out of gas or oil.
A spokes man for Team Resources puts the fear of running out of gas firmly to bed:
“As a matter of fact we have already found an abundant resource which could “come to market” very quickly without the need to build major infrastructures and could slash our demand of foreign oil significantly in just a few years. This resource is Natural Gas. It is estimated that the US has enough Natural gas to last a century or more!”
Team Resources does not compete with the large oil and gas corporations, the company marches to its own drum with new ideas and new technologies to increase domestic production.
“Team Resources does not compete with the Oil Giants. We have been involved with Texaco back in the 1990’s and Team Resources drilled a well where Dominion and NewField were involved. These companies “explore” and look for large reserves which costs quite a bit more than Team Resources would care to “risk”. Their business objectives are much larger scale usually overseas. Team Resources has our own niche; we keep our overhead low and are focused in an area where the drilling and completing of wells are reasonable with oil reserves substantial enough to yield solid returns.”
The result is a new idea in an old setting. It seems like Team Resources does not lack for new ideas to solve old problems.