CO2 Flooding
What was a theoretical experiment in the early 70’s is now a proven oil recovery method with a 30 year track record. Using the same gas plant sources that PSEC is utilizing today, CO2 flooding in the Permian Basin was begun. Following early successes and promise, and with many large, high quality reservoirs available, natural sources of CO2 in Northern New Mexico and Southern Colorado were developed by the mid-80’s along with the infrastructure needed for transportation.
CO2 injection has now been proven to be among the most efficient tertiary recovery mechanisms for producing crude oil. The “CO2 EOR Process” is applicable in a wide range of formations throughout the country, however, because it requires large quantities of CO2, its widespread use has been restricted to areas which have had sources of naturally occurring CO2 such as the West Texas, Permian Basin. These natural sources continue to provide the majority of the CO2 volumes.
Today in the Permian Basin incremental oil production resulting from CO2 flooding has reached over 135 MBOEPD, or approximately 15% of the total Basin production. A total 1.0 to 1.5 BCF of new CO2 is delivered into the Permian Basin each day for injection into about 60 active CO2 projects.
CO2 flooding is expensive and takes a long term commitment. Typically, a high level of investment is required for facility upgrades, wellwork and drilling. However, the most significant expenditure required is for the CO2 injectant itself. Production response following CO2 injection is typically slow (taking 3 – 8 years to peak response), but it is long lived.