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The Powder River Basin has emerged over the past year as the latest source of oil production growth for the Lower 48. Companies ranging from a reborn Samson Resources to US onshore mainstays Devon, Chesapeake, and EOG are now betting on the basin to become a long-term core asset. Colorado’s industry lacks the size, variety, and Wild West characteristics of Texas, but that is precisely why the Centennial State’s oil production is surging to record levels. This paper describes a comprehensive field study of eight horizontal wells deployed in the stacked Niobrara and Codell reservoirs in the Wattenberg Field (Denver-Julesburg Basin).
Australia’s BHP Billiton and the recently acquired Anadarko Petroleum submitted the largest dollar totals of high bids in US Gulf of Mexico Lease Sale 253. Oxy has won the fight for Anadarko. Citing capital discipline as the reason, Chevron has elected not to make another bid for the independent. Anadarko Petroleum now plans to exit its agreement with Chevron after deeming Occidental Petroleum's revised takeover bid "superior." Colorado voters soundly defeated a measure 6 November that would have restricted the vast majority of new development in the country’s fifth largest oil-producing state.
ConocoPhillips has pulled out of the much-hyped Louisiana Austin Chalk play after the company’s test wells yielded a gusher of water. The Powder River Basin has emerged over the past year as the latest source of oil production growth for the Lower 48. Companies ranging from a reborn Samson Resources to US onshore mainstays Devon, Chesapeake, and EOG are now betting on the basin to become a long-term core asset.
Developed by the large shale producer, its new way to monitor interactions between horizontal wells is now available as a commercial software. The concept is considered a stepping stone toward real-time fracture design. When engineers went searching for clues on how fractures move beneath the surface, they expected to uncover important learnings. They did not know they were on the path to a new invention. Devon exits the asset that served as the company’s cornerstone for almost two decades and is known to the world as the birthplace of the shale revolution.
What Damage Is Wrought by the Rush to Shut In Wells? The Permian Basin is now influencing the upstream water market on the way down, while many questions swirl around the implications of unprecedented shut-ins. Autonomous Inflow Control Valve technology demonstrates significant benefits within first year. Some well-testing operations are executed by performing multiple runs in hole using slickline and coiled tubing (CT). A technology has been developed that combines many of these operations, including contingency stimulation activities, into one run.
The distressed shale pioneer will wipe away nearly $7 billion in debt and is likely to make major asset sales as it attempts to restructure itself into a profitable business. The long-struggling shale operator’s share price on 12 November closed at 67¢/share, a 25-year low. 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?
The good news is 95% of the oil companies in Texas are expected to survive 2020, which means there is a lot of bad news to endure. New report offers guidelines for pressure pumpers of the future. What Damage Is Wrought by the Rush to Shut In Wells? The Permian Basin is now influencing the upstream water market on the way down, while many questions swirl around the implications of unprecedented shut-ins. The industry has very limited experience in shuttering production on a large scale in unconventional reservoirs.
The Section and Student Chapter Membership Competition motivates and rewards sections' and student chapters' efforts to recruit and retain members. Those that have achieve the target member retention rate of 81% will be entered into a biannual drawing to win USD 1,000. Drawings take place in May and November. Two section and two student chapter winners will be randomly selected from those that qualify each drawing. Retention details are available to officers in Membership Builder.