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The AAPG/Datapages Combined Publications Database

Grand Junction Geological Society

Abstract


Western Synfuels Symposium Proceedings, 1985
Pages 1-5

Gravity Oil Recovery: The Target - The Method - The Economics

B. C. Cummings

Abstract

A 1983 study prepared for a major petroleum company indicates that rates of return on invested capital in the range of 30 to 50% could reasonably be expected for a properly sited, underground, gravity oil recovery project. The reasons for past failures are identified, and the physical requirements necessary to assure the economic success of a low risk initial project are spelled out. The associated base case cost estimate is discussed, and a graph is presented showing overall economic sensitivity to changes in invested capital, operating costs, oil production and oil price.


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