Enhanced oil recovery (EOR) through CO2 well flooding is increasing as more and more wells reach declining stages of oil production. Producers with the technical expertise and viable CO2 resources are likely to experience sizable gains as the marginal cost of oil continues its move higher. And according to USGS, current reserve levels are underestimated, with an assessment of 2.7 billion barrels of oil in the Permian Basin that could be added to current reserves through tertiary recover. Check out the video below for more insight into EOR and what companies stand to benefit from it.
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The article Enhanced Oil Recovery: The Next Wave of Crude Production originally appeared on Fool.com.
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