News / Business
Goldfield Oil and Gas Ltd Boasts Exemplary Use of Innovative Technology in Wattenberg Oil Field
As The Wattenberg Field Continues To Become One of the Most Productive Oil Fields in the US, Industry Expert Gary W Bush Highlights the Importance of Using the Latest and Innovative Technology
Goldfield Oil and Gas Ltd, one of the major oil drilling and exploration company in DJ Basin, has recently reported that the production from the tight gas formation in Wattenberg has increased during the past few years. Gary W Bush, president of Goldfield Oil and Gas, said that the increase in production is largely due to the use of innovative technology in this area.
According to the spokesperson for the company, “There are lessons to be learned from Wattenberg Field and the work that is going on there. We have employed the latest technology to extract more oil and gas is less time and with fewer employees. If the advancement of technology continues, Wattenberg is capable of providing enough gas to supply US homes for a whole year. ”
According to Mr. Bush, new exploration technologies have played their part well in the discovery of new plays in Wattenberg. New plays have significantly improved and increased the longevity of the field. Another major advancement seen in the region is the use of directional drilling technology. Using the directional drilling, it is now possible to access resources that are otherwise unreachable due to urban development in the area.
The spokesperson for Goldfield Oil and Gas also explained how the company has constantly embraced new technology in order to boost productivity and revenue. “We have never drilled a dry well. Part of it is due to the abundance of oil in the region while part of it is due to the use of advance technology. In the end, it converts into higher revenues and profits for investors,” adds the spokesperson
About Goldfield Oil & Gas Ltd.
Goldfield Oil and Gas Ltd. started off in 1937 as a Gold Mining Incorporation in Goldfield Nevada. From business and support services to mineral claims, geological surveying, and equipment and financing leasing, Goldfield Oil and Gas moved into the lucrative oil and gas industry. With expertise in the DJ Basin in Colorado, Goldfield Oil and Gas has a Goldfield Oil Block 1-14, LLP Drilling program that allows 14 wells to be drilled in 393 acres. Goldfield Oil and Gas Ltd. has accumulated up to 90 years of project management and capital growth experience in the oil and gas, and mining industry.
