Raytheon Sells Oil Shale Extraction Technology to Schlumberger
January 28th, 2008“For years, I wanted to believe that Peak Oil could bring this horror show down. My problem, of course, was that I couldn’t ignore simple, observable realities and the fact that evil people have many plans up their sleeves.
Some of you view collapse due to Peak Oil as a given. I understand that desire. Unfortunately, it’s just not going to go that way.”
—Shell’s $30 per Barrel Oil Shale Process
According to the Raytheon press release, the system was derived from, “mature defense technologies.”
Hey now! Imagine my shock, yet again…
Via: Raytheon:
Raytheon has sold its technology to extract oil from shale and tar sands to Schlumberger, a leading oilfield services company. Financial details of the transaction were not disclosed.
The sale culminates years of work by Raytheon and partners devoted to the longstanding challenge of reliably extracting heavy oil from shale, tar sands and spent wells in a manner that is cost effective and environmentally sensitive, while also presenting new opportunities to support Schlumberger in its application of the technology in the field.
The arrangement between the two companies comes as demand for the world’s finite oil supplies continues to increase, the price per barrel is near record highs, and government and industry are looking for new sources of oil to lessen dependency on foreign suppliers.
If successfully harvested, shale could provide a long-term source of reliable, affordable and secure oil. Federal officials estimate that this resource — much of which is locked in a 16,000-acre formation beneath federal land in Colorado, Utah and Wyoming — could yield enough oil to meet U.S. demand at current levels for more than 250 years.
In order to create new momentum for extracting oil from shale, Raytheon utilized one of its many intellectual property reserves (radio frequency, or RF, technology), developed a small business partnership for an aspect of the solution that research determined is critical to success, and then pursued and solidified interest from companies such as Schlumberger, a global innovator in the energy industry.
“Raytheon is expert in applying RF technology to radar and communications systems, and with this agreement we look forward to applying this expertise to the energy industry,” said Lee Silvestre, vice president of the Mission Innovation group of Raytheon Integrated Defense Systems (IDS). “Schlumberger is the world leader in bringing new technology to the field for the exploration and production of oil. Its acquisition of this technology is an important milestone in Raytheon’s approach to applying proven technology that can unlock new potential in adjacent markets.”
Raytheon’s solution combines RF with critical fluids (CF) processes of small business partner CF Technologies in Hyde Park, Mass. The RF/CF combination uniformly heats buried shale rock, separates the petroleum from the shale, and directs the liberated oil so that it may flow into tanks for extraction. The method is more economical and environmentally responsible than older oil shale extraction techniques as it uses far less power, does not severely disrupt the landscape or leave behind residue that can enter groundwater supplies.
Mission Innovation, a four-year-old group within Raytheon IDS, explores new or non-traditional market applications and opportunities with the potential to add shareholder value while also helping to address some of the world’s pressing problems. Where possible, Mission Innovation focuses on leveraging mature defense capabilities to address issues involving energy, the environment, health/disease, food/food sources, biologic threats and homeland protection.
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