Oxy begins Colorado oil-shale project

Journal Article · Mon May 29 04:00:00 EDT 1978 · Oil Gas J.; (United States)

OSTI ID:6597277

Wilson, H M

The long-predicted, and long-delayed, industry effort to develop oil from shale on a commercial basis has started. Occidental Oil Shale Inc., teamed with Ashland Colorado Inc., is sinking the first vertical shafts that will reach approx. 2,000 ft below the surface in the oil-shale country of W. Colorado. These shafts represent the initial spending on an estimated $650-million investment--an investment that Oxy and Ashland believe will be returned, with profit, when its 5,000-acre C-b federal lease produces at a rate of 57,000 bpd over 60 yr. Using the Occidental modified in situ method of production for the first time with the specific purpose of making money, Oxy and Ashland are saying that the shale-oil era is ready to begin.

• OSTI ID: 6597277
• Journal Information: Oil Gas J.; (United States), Journal Name: Oil Gas J.; (United States) Vol. 76:22; ISSN OIGJA
• Country of Publication: United States
• Language: English

Related Subjects

04 OIL SHALES AND TAR SANDS
040401* -- Oil Shales & Tar Sands-- In Situ Methods
True & Modified
040800 -- Oil Shales & Tar Sands-- Economics
Industrial
& Business Aspects
BITUMINOUS MATERIALS
CARBONACEOUS MATERIALS
COLORADO
ENERGY SOURCES
FEDERAL REGION VIII
FOSSIL FUELS
FUELS
INVESTMENT
LEASES
MATERIALS
MODIFIED IN-SITU PROCESSES
NORTH AMERICA
OIL SHALES
PRODUCTION
PROFITS
RESOURCE DEVELOPMENT
USA