No economics in drilling pure methane gas: Crocotta CEO
There’s no economics in drilling pure methane gas right now, according to energy producer Crocotta Energy.
“All our product is oil and natural gas liquids, coming off of high liquids gas wells,” CEO Robert Zakresky tells BNN.
He says at the break even point, a producer would want to be getting 50-60 million barrels of liquids off of any gas well it drills. Thirty to forty percent of the product that Crocotta is retrieving from its wells is oil, oil condensate and natural gas.
“So, at those rates, you can make very, very good rates of return and you can grow your company through your cash flow.”