Chapter 500 - 245 Dividend Party_3
[Daily Intel: Your Green Field Manor Ranch at coordinates 125.56, 667.22, 155.14, respectively, at depths of 160 meters, 512 meters, and 850 meters, can successfully extract shallow layer oil. Details: You need to apply for an oil drilling permit from the relevant authorities. The head of the land resource department, Weir, enjoys participating in group sports. If you can win him over, approval can be granted within 24 hours.]
Oil and natural gas are typically buried tens to thousands of meters underground in oil and gas strata.
Underground oil less than 2000 meters deep is considered shallow layer oil, mid-deep layer oil is generally found at 2000-3500 meters, and deep layer oil is found at 3500-8000 meters. However, this does not mean that the reserves of shallow layer oil are less than those of deep layer oil.
The 400-hectare manor land certainly has more than just three shallow layer oil spots underground.
Allen Zhang is still confident about this.
The three shallow layer oil spots, even if each well only produces 50 barrels of crude oil per day, would still yield 150 barrels of oil.
With the current price of oil, a barrel of crude sells for about 65-80 US dollars, giving a daily net profit of 9000-12000 US dollars. Moreover, he can drill several more wells in the nearby area to increase output, and equip them with bump machines that relentlessly pump 24 hours a day.
[Daily Intel: Alfred Waste Recycling Station’s collaboration in Queens includes recycling electronics and leaves, and a Rolls-Royce with a damaged bumper waiting for pickup. A wealthy eastern district client has a warehouse with drilling equipment and the drilling rigs and PDC drill bits you need, with a possibility of selling at a low price.]
Perfect timing.
A single alloy steel drill bit costs at least 20,000-50,000 US dollars. Quality absolutely cannot be compromised, as a faulty one could get stuck in the drill string, ruining the oil well.
But even more expensive are the rotary steering drilling tools, as well as the complete set of equipment. Shallow layer drilling rig platforms cost between 200,000-1.6 million US dollars and are capable of supporting drilling operations 200-1500 meters underground.