The French major is racking up barrels of deepwater production as part of its large-scale West African push. Oil prices have fallen since early October in lockstep with the plunge in 2014. But this time oil companies appear better able to deal with a tough situation. Chevron, ConocoPhillips, Equinor, Shell, and Total are among nine firms looking to explore the Pearl River Mouth Basin. Vaca Muerta production is on the upswing.
The second round will offer 19 offshore blocks clustered in five zones to continue natural gas development in the eastern Mediterranean’s Levant Basin. Devon Energy will be getting simpler and smaller by selling two no-growth assets—gas acreage in the Barnett Shale in Texas and oil sand operations in Canada. Its future is staked on growing oil production in the Permian’s Delaware Basin and three other unconventional oil plays. The Oklahoma City independent has a new-look portfolio and new operational and financial priorities. And now it has enlisted an energy research firm to leverage advanced analytics and machine learning to help get the most out of its assets.
Petrobras and Shell have brought online the Lula field’s seventh FPSO as the firms continue to ramp up production from the pre-salt Santos Basin. The unit is flowing oil and gas from the Lula Extremo Sul area, 290 km off Rio de Janeiro state in 2150 m of water. The new venture will operate several deepwater assets—including the Cascade, Chinook, Medusa, and Thunder Hawk fields. Equinor and ExxonMobil continued their aggressive pursuit of acreage offshore Brazil, collecting more blocks in the country's 4th pre-salt bid round. Brazil’s large offshore discoveries and domestic demand for oil and gas are a combination that holds potential for explorers to make money on high-priced blocks.
The US majors plan to produce around 1 million BOE/D each from the basin, which has become a primary focus of their upstream operations. This industry is one often considered reactive and overly tradition-bound. These new technologies, however—and, more importantly, the drive of these researchers to harness their capabilities—prove that petroleum engineers remain at the forefront of innovation and discovery. Noble’s first row of wells in its massive Mustang project is helping increase the operator’s DJ Basin output, and similar results are soon expected in the Delaware Basin. Petrobras and Shell have brought online the Lula field’s seventh FPSO as the firms continue to ramp up production from the pre-salt Santos Basin.
Oil companies generate an enormous amount of data but are reluctant to share it. But more sharing of information may be required in the future to keep up with a rapidly changing energy landscape. This paper discusses the successful application of managed-pressure drilling (MPD) in the basin with reduction in risks and well costs. This paper discusses how managed-pressure-drilling (MPD) technology led to cost savings in two wells drilled in the Hai Thach gas field offshore southern Vietnam. The discovery is world’s third-largest natural gas discovery in the past 2 years.
Latest News are articles brought to you online only and have not been published in an issue of JPT. Pictures shot in fractured wells show how a high-pressure slurry of water and sand carves up the perforations. The Spotlight on New Technology Awards—a program for OTC exhibitors—showcase the latest and most advanced hardware and software technologies that are leading the industry into the future. Oil companies generate an enormous amount of data but are reluctant to share it. But more sharing of information may be required in the future to keep up with a rapidly changing energy landscape. The US majors plan to produce around 1 million BOE/D each from the basin, which has become a primary focus of their upstream operations.
Recent mooring research indicates that fiber ropes with higher strength and higher stiffness would benefit floating offshore platforms in water depths beyond 2000 meters in terms of reduced offset and reduced weight in comparison with polyester rope mooring. More advanced fibers with high strength and high stiffness are also entering into market. The industry has used high strength and high stiffness ropes for temporary moorings and mobile offshore drilling unit moorings. However, high strength and high stiffness fiber ropes have not yet been used for permanent moorings. This paper summarizes studies conducted by the industry on the high strength and high stiffness fiber ropes. An overview is provided for the existing research results, testing conducted, application guidelines, rope qualification processes, project experience, lessons learnt and the challenges of using high strength and high stiffness ropes for permanent moorings. Based on the industry experience of using polyester rope for permanent mooring and knowledge gained on high strength and high stiffness rope, this paper provides recommended assessments that could facilitate the application of high strength and high stiffness ropes for permanent deepwater moorings.
If the shale sector’s most complex problem can be solved, it will require companies to use their wells as a team. Newly detailed field work shows that a good defense is the key to success. The international major has been playing with intelligent programs for years, but this new deal shows that it is now ready to scale those efforts up to cover hundreds of thousands of pieces of equipment. The 5-year-old software startup is getting noticed by the oil and gas industry for its ability to accelerate analytics projects by taking care of all the tedious work involved with data wrangling. Fast-declining, older, unconventional oil wells require artificial lift experts to deal with and explore a population of miles-long horizontal wells that do not follow the established rules of thumb.