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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.
Shell has selected Bentley Systems, a provider of software and digital twin cloud services, to help streamline its capital projects and decrease time to first oil. The memorandum of understanding with Microsoft follows a conditional investment decision made in May by Equinor, Shell, and Total. Pending Norwegian government approval, the final investment decision for the project is expected in late 2020 with startup expected in 2024. One year after the Johan Sverdrup field came on stream, Equinor says digital technology has proven to be key to safety and value in all parts of the operation, increasing earnings by more than $200 million. The companies say they will expand their existing technology collaboration to create and deliver solutions to help customers, suppliers, and other businesses lower emissions.
Advanced machine-learning methods combined with aspects of game theory are helping operators understand the drivers of water production and improve forecasting and economics in unconventional basins. A test showing that it’s possible to automate the billing process for produced water hauling has opened the door for tracking a wide range of field activities. The industry downturn brought on by COVID-19 has motivated big companies to test practical applications sooner. The room for error and cost overruns just got a lot smaller with the escalating need to make operations more efficient and leaner with fewer resources and investors continuing to prioritize ESG alongside profitability. This paper describes a coreflooding program performed with sandpacks at different permeabilities, water qualities, and injection conditions.
The Bureau of Safety and Environmental Enforcement approved the conversion of the Lena compliant tower platform into an artificial reef under the bureau’s Rigs to Reefs program. The memorandum of understanding with Microsoft follows a conditional investment decision made in May by Equinor, Shell, and Total. Pending Norwegian government approval, the final investment decision for the project is expected in late 2020 with startup expected in 2024. Plugging and cleaning up the open oil and gas wells in Texas could cost companies and taxpayers as much as $117 billion, according to a new report. The oil major said it will now work with Global Thermostat on technology that would remove carbon dioxide directly from the air. The Trump administration has shelved plans to offer nearly 350,000 acres for oil and gas leasing in Wyoming, according to documents seen by Reuters, citing protections for a threatened Western bird. Just one orphaned site in California could have emitted more than 30 tons of methane. There are millions more like it.
Achieving high hydrocarbon recovery is challenging in unconventional tight and shale reservoirs. Although EOR/EGR processes could potentially improve the recovery factor beyond the primary depletion, large-scale field application of these processes are not yet established in these reservoirs. This session will focus on the latest research trends, modelling and experimental work to better understand issues involved in improved economic recovery from such reservoirs.
Advanced machine-learning methods combined with aspects of game theory are helping operators understand the drivers of water production and improve forecasting and economics in unconventional basins. 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. As operators feel the pinch of low oil prices, so, too, do their service providers.
The new geothermal project development company will offer expertise in subsurface and drilling, project development, and risk mitigation. The oil and gas industry is increasingly characterized by complex connectivity, but our digital dependency brings a new realm of cyber risks. The complete paper discusses Equinor’s operation planning tool, developed to present planners with the technical conditions of a platform, identify potentially dangerous combinations of concurrent activities, and propose learnings from 8 years of incident recordings. Nearly everything’s on the table as companies aim to shore up portfolios by curtailing investments and dumping low-priority assets. The $20.7-billion agreement is the single-largest energy infrastructure investment in the region.
A new open innovation studio aims to use crowdsourcing to redefine the future of oil and gas exploration. In tectonically influenced regions, potential hydrocarbon traps are subject to complex states of stress. This paper presents a coupled 3D fluid-flow and geomechanics simulator developed to model induced seismicity resulting from wastewater injection. Knowing which horizon crude oil flows from and in what proportions has been a major challenge for shale producers. Increasingly, they are turning to new technology to find the answer.
Though shelved by low oil prices, the plan to execute the largest enhanced oil recovery program of its kind offers insights into what it may take for the shale sector to escape pilot mode and scale up gas huff ’n’ puff operations. Before the giant Johan Sverdrup field had produced even one barrel of oil, operator Equinor and its license partners set a recovery ambition of greater than 70% for the field. Add Denbury Resources to the list of oil companies filing for bankruptcy protection with a plan that may make for a quick trip through the debt-reduction process. The complete paper presents a large-scale work flow designed to take a vast amount of data into consideration. The work flow can be scaled for projects of any size, depending on the data available.