The first is trapped by capital and technology constraints. If they act early enough, they can put in a few water injectors to bump up field economics before the overall field production drops. The second group usually has a large enough asset base to move up to tertiary recovery if they are located close enough to a CO2 source. This technology can improve recovery factors and rates in stripper wells without spending millions on infrastructure and new wells.
MK Pump is giving stripper well operators a stationary way to reduce costs: the Rhino Mini-Jack, a miniaturized piston pump system designed to recover oil at rates as high as 15 barrels a day at depths to 1, feet, according to Mark Bertane, president of MK Pump. This pump has been made small enough so you are matching your production and costs to this smaller yielding well," he says. The Mini-Jack costs less not only because it is small, but also because it comes in a single package, he says. With our small package and for small wells, you can put it all together easily," Bertane claims. Our pump jack sits right on top of the wellhead, so there are no requirements for platform alignment," he adds.
While the market dictates the price oil can be sold at, the costs to produce oil are largely constant, causing price fluctuations to massively affect upstream oil companies. Many oil wells were hit hard by the low oil prices, especially small rigs and stripper or marginal wells. NWSA estimates there are over , stripper wells operating that contribute
CNN -- Hundreds of thousands of small oil wells in the United Sates, called "stripper wells," are being touted as part of the solution to dependency on foreign oil. These wells are scattered throughout the country. Stripper wells are marginal, low-volume wells that produce less than 10 barrels of oil per day.