Guide for Penny Pinchers

According to a recently published report from RICS (Royal Institution of Chartered Surveyors) the price of farmland near Slough continues to rise as demand outstrips supply.

In the North-East alone farm land sales prices have risen on the first quarter of the year at an average of £2,650 an acre to £2,125 an acre.

Demand for commercial farm land has increased in the first quarter of the current at a swift rate since the RICS began the land price survey back in 1999.

The farm land sale in North East of UK, particularly near Slough is reaching an upward growth. An important fact to note is that the buyers are not particularly farmers but individual investors and developers.

Land as a whole in UK is very difficult to own. In such a scenario one can find more available farm land for sale than any other types of land. This has resulted in people opting for more farm lands even if they do not intend to farm. One can find farm land in North East and particularly in Slough being traded at an enormous quantity be it in small plots or large plots.

A recent research report shows that in 2001 UK population grew by 236,800, in 2002 by a further 215,000, and growth from mid-2002 to mid-2003 was 232,100. The UK as a whole would need over seven million more houses over the next six decades – an increase of 28 per cent in the housing stock compared with 2006. This is equivalent to more than twice the number of houses in London in 2003 and 163 times the number in Slough.

With the ever increasing head count, the demand for space to dwell is increasing. Farm lands can provide a definitive answer to meet the growing requirements.

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Did you know that much of the oil in the ground is still present after primary recovery? In the king’s english that means there is still a lot of oil left in a well even after 10 years of pumping. The reason oil production slows is that the natural drive that once pushed oil aggressively towards the wellbore has subsided. Normally, the natural drive is either water or gas in the formation. In this article, we look to explain some of the common enhanced or secondary/tertiary methods of oil recovery.

With oil hitting new highs every day, it is clear the cost benefit of utilizing technology to get at extra production makes sense. When oil was in the $10-20 range, the incremental cost of some enhanced oil recovery methods did not make economic sense.

One of the most common secondary recovery methods is a waterflood. Essentially, a waterflood is a reintroduction of water into the formation to create a drive to push more oil towards the wellbore. To increase the efficiency of a waterflood, new methods utilize Alkaline-Surfactant-Polymer floods and some explorers are introducing microbes into the wellbore to increase the sweep efficiency of the flood, both methods have been met with success.

One method I find very interesting and have used with success on one oil well is the radial jet enhancement. The technology utilizes jets of high water pressure to cut laterally into the formation up to almost 300 feet. The technology can be viewed at www.wellenhancementservices.com, ask for Steve Bowen if you are interested in utilizing the technology on some of your new or old wells.

With 80% of the oil still in the ground after primary recovery, there is still plenty of meat on the bone for utilizing EOR. New technologies are constantly being tested and will lead to greater gains in the future. One area I am very interested in is new drilling technology. The rotary drilling rig has not changed radically in 100 years but new advances are coming and we’ll discuss those in future blogs.