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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.
It will provide re ... Harkand has secured a USD 5 million contract from Swiber Offshore Mexico to perform saturation divin ... Two Bumi Armada subsidiary companies secured USD 300 million worth of contracts from ElectroGas for ... Amec Foster Wheeler has been awarded a contract by BP worth more than USD 73 million. Tam International, which provides inflatable and swellable packers for the oil and gas industry, has ... Sanchez Energy closed a deal with a subsidiary of Sanchez Production Partners to sell wellbore and a ... Penn West Petroleum has entered into a USD 321 million agreement with Freehold Royalties to sell an ... Bonterra Energy has acquired Cardium formation-focused assets in the Pembina area of Alberta, Canada ... Petrobras has sold its assets in Argentina’s Austral basin to Compañia General de Combustibles for U ... Pemex signed an agreement worth USD 1 billion with private equity firmFirst Reserve to jointly inves ... Gulfport Energy entered into an agreement to acquire Paloma Partners III for USD 300 million. Apache sold its 13% stake in the Wheatstone LNG terminal in Western Australia and 50% interest in th ... Shell Petroleum Development Company of Nigeria completed the sale of its 30% interest in Oil Mining ... Oil and gas safety company Secorp opened a new office in Hobbs, New Mexico. Bill Barrett Corp. has signed agreements with several undisclosed recipients for the sale of the maj ... Encana said it will sell its remaining 54% stake in PrairieSky Royalty via a USD-2.4-billion Cardinal Energy entered into an agreement with an unnamed seller to acquire assets whose total daily ... Petrobras has awarded a contract, worth USD 465 million over a period of 5 years, to Aker Oilfield S ... CGG received contracts for the 3D seismic acquisition of four surveys using its marine broadband tec ... IKM Subsea, a subsidiary of IKM Group, has been awarded a contract by Eni Indonesia to provide remot ... OneSubsea, Schlumberger, and Helix Energy Solutions signed a letter of intent to develop technologie ... Premier Hytemp has committed to opening a USD-20-million, 67,000-ft2 precision engineering facility ... Expro has constructed a new 20,000‑m2 facility in Macaé, Brazil.
In 2 months, the US saw a 56% decline in rig count, reaching a 33-year low. When fracturing slowed last year in the Marcellus, companies holding produced water they did not need for fracturing paid other operators to take it. It provided a cheap source of fracturing water then, and in the future, water trading could reduce the high cost of shipping water. Antero Resources has built a huge plant to turn waste water into fresh water and salt for sale. The $275-million investment in West Virginia is the most tangible indication of how operators in the Marcellus are pushing water reuse.
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 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.
In the complete paper, the authors revisit fundamental concepts of reservoir simulation in unconventional reservoirs and summarize several examples that form part of an archive of lessons learned. A 3-year study of air quality, soils, groundwater, and waterways found few to no effects as a result of hydraulic fracturing operations in Surat Basin coal seam formations. Not everybody suffers when US oil producers slash production. Among the beneficiaries could be US gas producers who will benefit because less oil production will mean a lot less gas on the US market. A downhole compressor solution based on advanced magnetic technologies completed its first field trials in an unconventional gas well.
New commentary from the SPE Reservoir Advisory Committee (RAC) provides key high-level insights on the potential consequences of long-term shut-ins on conventional and unconventional reservoirs. Phase 1 is expected to be operational in 2024. The industry has very limited experience in shuttering production on a large scale in unconventional reservoirs. Many questions remain on how stimulated, nanodarcy shale reservoirs may respond. George King discusses the paradigm shifts needed in the industry.
With their gee-whiz—albeit artificial—intelligence, robots may be the industry’s answer to jobs deemed dangerous, dirty, distant, or dull. A new idea from Equinor calls for autonomous submarines to transport CO2 from the surface to the seabed. The Norwegian operator says the shuttles could also carry oil and water for injection. Tracking down fugitive emissions has traditionally relied on small-scale detection efforts. This new project seeks to buck the trend by covering the Permian Basin with sensors.
With their gee-whiz—albeit artificial—intelligence, robots may be the industry’s answer to jobs deemed dangerous, dirty, distant, or dull. Despite the global downturn, the long-term transition to net zero presents a major opportunity to create new multibillion industries based around the North Sea. The ministry said there is uncertainty about Northern Lights’ benefits and that it could prove to be unprofitable. A new licensing round will open up 136 blocks in the Arctic Barents Sea. Write-offs include billions for early-exploration-stage projects that the company will now cut.
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.”
Big-data mining techniques can help determe the type-curves and the resulting estimated ultimate recovery of an asset being evaluated for acquisition. In this work, the authors perform automatic decline analysis on Marcellus Shale gas wells and predict ultimate recovery for each well. In this work, the authors perform automatic decline analysis on Marcellus Shale gas wells and predict ultimate recovery for each well.