Drilling for natural gas and oil essentially involve the same processes as both involve drilling into the earth to extract a natural resource. According to Brian Jones, lead driller at HPR Aberdeen, drilling for oil usually entails extracting crude oil from the earth that is used for a variety of different purposes. Natural gas wells will be part of oil drilling and are considered to be a valuable resource. Both oil and natural gas are used to heat our homes and run equipment like automobiles.
Individuals who invest in well prospects often think that they are drilling for either gasoline or oil and do not often know the difference. When an oil company drills into the earth, they are looking for natural resources that can be use for fuel or for other purposes. Crude oil, for example, is not only used for gasoline, but for petroleum and petroleum based products.
When investing in drilling for natural gas or oil, there are three things that can occur. A new well can yield either natural gas or oil or it not yield anything and be what is considered a dry well.
Drilling for oil usually means researching for crude oil which is used in the production of many things, including gasoline. It takes 17 barrels of crude oil to make one gallon of gasoline and crude is used to make products made from petroleum as well.
Natural gas and oil drilling can yield both natural gas or oil. Each of those are accepted as valuable natural resources that are a necessary part of life as they can be used for fuel for heating as well as use in gasoline to run cars.
Crude oil can be refined into gasoline by an oil refinery process. About 17 percent of a barrel of crude oil will be used for gasoline.
Exploration usually takes time as well as highly-priced equipment. Most of the drilling investments are made by a group of investors who put money into the oil company for wells that are already producing or new wells.
Each oil and gas drilling can yield profits for investors who invest in a company that drills in a proven well or finds a new well. Finding a new well during drilling yields very high profits for investors.
Exploration for natural gas as well as oil drilling are time consuming but can yield high earnings for investors. Oil and natural gas drilling takes place in the United States as well as all over the world. Both oil and gas are natural resources that are used for a variety of different purposes, including heating fuel, petroleum products and gasoline.