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How much additional crude oil will be unlocked by the new drilling technology by end of 2025?
3
Resolution / Starting Odds
Less than 1 billion barrels • 25%
1 to 3 billion barrels • 25%
3 to 5 billion barrels • 25%
More than 5 billion barrels • 25%
Public announcements from major oil companies, industry reports, government energy agencies
Story
New Drilling Tech Could Unlock 5 Billion Barrels of Oil
Aug 14, 2024, 10:51 AM
A new breakthrough in drilling technology is poised to significantly impact global oil production by making it possible to safely access ultra-high pressure fields, including offshore locations. Analysts indicate that this advancement could unlock up to 5 billion barrels of previously inaccessible crude oil and add huge amounts of associated gas. This development comes amid discussions on peak oil demand versus peak oil supply, with some experts suggesting that peak demand will occur before peak supply. The technology is expected to benefit not only U.S. fields but also non-U.S. fields globally, potentially transforming the oil production landscape.
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Increase by 3 million barrels per day or more • 25%
Increase by less than 3 million barrels per day • 25%
No significant change • 25%
Decrease • 25%
Significant increase in drilling activity • 25%
Moderate increase in drilling activity • 25%
No significant change • 25%
Decrease in drilling activity • 25%
Significant increase • 25%
Moderate increase • 25%
No change • 25%
Decrease • 25%
Increase by over 10% • 25%
Increase by 5-10% • 25%
Increase by less than 5% • 25%
No increase • 25%
Less than 13.5 million barrels per day • 25%
13.5 to 13.7 million barrels per day • 25%
13.7 to 13.9 million barrels per day • 25%
More than 13.9 million barrels per day • 25%
Below 13 mb/d • 25%
13 to 13.5 mb/d • 25%
13.5 to 14 mb/d • 25%
Above 14 mb/d • 25%
Yes • 50%
No • 50%
Less than 13.5 million barrels per day • 25%
13.5 to 13.7 million barrels per day • 25%
13.7 to 13.9 million barrels per day • 25%
More than 13.9 million barrels per day • 25%
Permian Basin • 25%
Bakken Formation • 25%
Eagle Ford Shale • 25%
Other • 25%
