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Mozambique has an enormous energy potential, which provides the country with favorable means to fulfill its domestic and regional energy needs for southern Africa and beyond. The latest discoveries of natural gas puts Mozambique in a very privileged position both in the region and in the world. The Delaware Basin presented a challenging scenario for Anadarko due to the company’s tankless development approach. Sand filtration was identified as a perfect fit for this application.
Water is precious, and it is a factor in every aspect of oil production in the Permian Basin. It is used to produce the hydrocarbons, and it is produced with them. In the often-arid region of the Permian, finding a balance between water production and use can be a challenge. The combined effect of COVID-19 and an ongoing oil price war has ushered in one of the worst downturns for the energy industry in modern history. Yet, a bright side is shining through; flaring levels in the Permian Basin have fallen sharply and will continue to decline, a Rystad Energy report shows.
The international major is calling its latest multiwell project in the Permian Basin a “beacon of innovation.” The goal is to see if combining digital technologies will lower the operating costs of its shale assets. Venture groups spend their time evaluating hundreds of companies each year to only make a handful of investments.
The new numbers for the Marcellus Shale and Point Pleasant-Utica Shale represent large increases from previous USGS assessments of both formations. Production and proved reserves in the Permian Basin’s Wolfcamp Shale and Bone Spring Formation are reaching new heights, and a new assessment from the US Geological Survey indicates the industry is just scratching the subsurface when it comes to what may be technically recoverable. Major oil discoveries by Armstrong Oil & Gas and ConocoPhillips have compelled the US Department of the Interior to reassess its estimate of undiscovered, technically recoverable resources in parts of Alaska. The list of the biggest gas plays in the US is being revised as the US Geological Survey creates new estimates based on additional drilling results and available rock samples. New at Number 2 is the Mancos Shale on the Western Slope of the Rockies with 66 Tcf in recoverable reserves.
A new play in the Permian Basin is unconventional in an unexpected way: there is a small group of independents producing from a watery formation where oil production begins after they have pumped only water for weeks. Research into whether CO2 can be used to coax billions more barrels of oil from unconventional formations is beginning to show promise.
Concho Resources and Enverus say turning to automated software for tracking invoices could save the upstream business many millions of dollars. Share prices have plunged for seemingly every major US shale producer, with Concho, Pioneer, and Continental among those receiving the worst of the market’s fury. Have investors completely lost faith in the industry? And are shale executives any more optimistic? Production growth in the Permian Basin requires drill rigs running at a high pace.
Share prices have plunged for seemingly every major US shale producer, with Concho, Pioneer, and Continental among those receiving the worst of the market’s fury. Have investors completely lost faith in the industry? And are shale executives any more optimistic? ProPetro closed its deal to purchase Pioneer’s pressure pumping fleet, boosting its services in the Permian Basin. As it works to increase production to 1 million BOE/D, Permian mainstay Pioneer is taking a methodical approach to sustaining capital efficiency.
Another reminder that it costs more to coax the same amount of oil from new wells as for older wells nearby, with a closer look at the big plays and how the wells are completed. PDC’s president and CEO describes the company’s management strategy for its hydraulic fracturing operations in the Wattenberg Field and the Delaware Basin.