If you are not logged in, you will receive a confirmation email that you will need to click on to start receiving the newsletter. In the shale oil business, cash flow is a life or death issue. For smaller players, money from investors and lenders is getting harder to find. Ghawar vs. Permian Basin: Is There Even a Comparison? While some try to put the two enormous oil producers toe-to-toe, the best thing to do might be to understand why they are different.
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. 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.
After a long cooling off period, this dry-gas shale play is once again red hot. Downhole annulus pressure is required for any gas lift design. This paper presents several methods of determining annulus pressure at depth and helps determine which method is most appropriate for specific conditions. The agency updated its methodology and production volume estimates to factor increasing production from new, emerging plays as well as older plays that have rebounded thanks to drilling advancements. UK’s first horizontal shale well has yielded positive results after an initial flow test.
After a long cooling off period, this dry-gas shale play is once again red hot. The state-owned firm is looking within its home country, around Southeast Asia, and to the Americas—including shale—in an effort to maintain its forecast average yearly production of 1.7 million BOE/D over the next 5 years. Encana CEO Doug Suttles assures that shale executives are acutely aware of the parent-child well challenge, and he doesn’t think it’s “a big threat” to the sector. 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.
Two new centers in Bergen, Norway will lean on emerging digital technology to oversee much of the Norwegian operator’s offshore operations. For the next several years, supplies of crude will depend on several macro factors. Some are easier to forecast than others. Video games have been seen as a big waste of time for years by parents around the globe. But now, the oil and gas industry sees the underlying technology as a big time saver.
For the next several years, supplies of crude will depend on several macro factors. Some are easier to forecast than others. Iraq is producing oil at record levels this year but low oil prices have cast doubts on the economic feasibility of its licensing contracts, which some analysts and policy advisers say are holding back higher output.
The technical challenges imposed by tight well spacing and fracture interactions have become a focal point of recent earnings calls between investors and the leaders of several shale producers. The picture of the future is becoming clearer, and there are fewer oil wells in it. For the next several years, supplies of crude will depend on several macro factors. The upcoming event will provide the shale sector with a venue to share new learnings and approaches meant to overcome one of its greatest subsurface challenges.
For the next several years, supplies of crude will depend on several macro factors. Some are easier to forecast than others. Abu Dhabi will conduct its first-ever competitive tender for international partners to explore and develop oil and gas blocks onshore and offshore. The scheme by OPEC and non-OPEC producers to collectively curb oil production has brought stability to the global market—which, as a result, could soon be awash in “a second wave” of US shale output growth. OPEC and a Russian-led group of non-OPEC producers agreed to extend their deal to collectively curb oil production until the end of 2018, following through on their efforts to rebalance the oil market and support higher crude prices.
By racking up exploration agreements in the United Arab Emirates, Oman, and Bahrain, Eni took a big step forward in its pledge to tap into the Middle East’s vast swaths of highly prospective oil and gas acreage. Three onshore fields in the Emirate of Sharjah, United Arab Emirates, have more than 30 years of production history from more than 50 gas-condensate wells. For the next several years, supplies of crude will depend on several macro factors. Some are easier to forecast than others. The French major will become operator of the Ruwais Diyab concession, and ADNOC says additional companies are lining up to partner on the emirate’s other unconventional areas.
The state-owned firm is looking within its home country, around Southeast Asia, and to the Americas—including shale—in an effort to maintain its forecast average yearly production of 1.7 million BOE/D over the next 5 years. Vaca Muerta production is on the upswing. Will increasing activity propel the Argentine play to the ranks of US shale? Data suggest it is both already there and has a ways to go. Wells are starting to come on stronger than expected, which is putting a new emphasis on orginizing all the other ingredients needed for shale production: more rigs, roads, pipelines, water, and sand.