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According to a new report from the EIA, the volume of natural gas reported as flared reached its highest average annual level in 2018, 1.28 Bcf/D. With production soaring in the Bakken, Permian, and Eagle Ford plays, North Dakota and Texas accounted for more than 80% of that total. After a planned acquisition of Goodnight fell through, private equity firm Tailwater Capital is boosting its total investment in the water midstream company to more than $500 million. Goodnight recently signed five long-term contracts with producers in the Delaware Basin and the Bakken. A new paper from ADI Analytics examines the circumstances in which natural gas could become an attractive method for fueling oilfield equipment.
Phillips 66 Partners Takes 50% Interest in $1.6-Billion Liberty Pipeline Project The transaction is expected to close in March. The Liberty Pipeline runs 700 miles between Cushing, Oklahoma and Guernsey, Wyoming. According to a new report from the EIA, the volume of natural gas reported as flared reached its highest average annual level in 2018, 1.28 Bcf/D. With production soaring in the Bakken, Permian, and Eagle Ford plays, North Dakota and Texas accounted for more than 80% of that total. After a planned acquisition of Goodnight fell through, private equity firm Tailwater Capital is boosting its total investment in the water midstream company to more than $500 million.
The silver lining for those overseeing the unprecedented shut ins of tight-oil wells is the potential to acquire a wealth of reservoir data. But first, petroleum engineers need to monitor these wells and use the right analysis toolbox. A downhole compressor solution based on advanced magnetic technologies completed its first field trials in an unconventional gas well. The first of three major unconventional developments in Saudi Arabia has been given the green light. The project will underpin the country's goal to become a top gas exporter by 2030.
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.
Duri Field in Indonesia is the largest active steamflood project in the world. The field produces 73,000 BOPD, and 10,000 optimization jobs are executed annually to support base production. Fluid saturation isn't what it used to be when it comes to unconventional reservoirs. Our guest is among those sharing new research to discuss the shale sector’s changing perspectives on the importance of mobile hydrocarbons vs. immobile hydrocarbons. Knowing which horizon crude oil flows from and in what proportions has been a major challenge for shale producers.
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. Although oil prices were down on 8 June, the market is expected to see higher prices in response to the OPEC+ decision to continue production cuts. 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.
Putting together the billions of dollars needed to develop deepwater finds has become tougher, but when the discoveries are huge, companies will make every effort to find a way to tap what may be a cheap source of oil. The complete paper analyzes the role of liquefied natural gas (LNG) in balancing the natural gas demand in the Middle East/North Africa (MENA) region. Saudi Arabia offers a seemingly bottomless supply of oil and an equally deep array of exploration challenges as well. A total of 12.2 billion BOE was discovered worldwide in 2019—the highest volume in 4 years, with offshore regions dominating the list of new deposits. Talos is hoping to retain its operatorship of the major discovery it made in 2017 offshore Mexico after a reserves audit confirmed the reservoir is shared between two offshore blocks.
The complete paper highlights examples of nonmetallic materials selection and qualification for upstream water-injection and producer and hydrocarbon wells and presents suggestions for future progress. Autonomous Inflow Control Valve technology demonstrates significant benefits within first year. For the offshore sector, the collapse in oil demand and prices came just as the market was beginning to look up. Now many companies are focused on survival. This article discusses how various market segments, regions, and companies are faring in “the new reality.”
A real-time deep-learning model is proposed to classify the volume of cuttings from a shale shaker on an offshore drilling rig by analyzing the real-time monitoring video stream. The best way to know how drilling affects drill bits is to visualize the bits. A device that creates high-resolution images for precise measurements is one of three technologies being featured in a JPT series on drilling measurement innovations. For the upstream industry, where improvement in efficiency or production can drive significant financial results, there is no question that the size of the digital prize is huge. A group of people who really care how drillers code the memos added to the daily drilling report is the data scientists—who find that the coded tags do not match the activity.
With their gee-whiz—albeit artificial—intelligence, robots may be the industry’s answer to jobs deemed dangerous, dirty, distant, or dull. World energy is at a “pivotal moment,” says BP CEO in annual statistical review, which reveals contrasts, challenges in energy consumption, production, and emissions. Greg Leveille said he is optimistic that the shale sector will be able to bounce back from its second downturn in 5 years. The trick this time, he says, will be not just investing in new digital technologies but putting them to work. The Open Group OSDU Forum aims to create a standard data platform on which members work collaboratively to enable secure, reliable, global access to all subsurface and well data.