The complete paper describes a physics-based model of interference and a sensitivity study to propose guidelines for well spacing and a drilling timeline for multiple horizontal wells in the Vaca Muerta shale. 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.
Unconventional development has made it clear to Erdal Ozkan that conventional theory overlooks a lot of potentially productive rock. He talks about looking for ways to do better as part of JPT’s tech director report. The industry has figured out how much opportunity lies in the Permian Basin’s Delaware subbasin, and the Delaware play is now dominating US unconventional oil activity, Citigroup’s Jeff Sieler told the SPE Gulf Coast Section reservoir group recently. Unconventional Resources: Will Shale Oil Ever Make Money? This well-established oilfield consultancy explains why 2020 might be a big year for the unconventional sector.
Five years since the start of the precipitous oil price drop that led to the industry’s worst recession since the 1980s, the oil market is still struggling with supply/demand balances and price stability. With the shale industry still awash in red ink, and oil prices falling, it may take more consolidation to try to bring some financial stability to the sector. Although the shale sector continues to thrive, the pace of deepwater E&P is now gradually picking up. Natural gas, often hailed as the bridge to an energy future that will include greater demand for alternative energy supplies, may be poised to overtake oil as the globe’s primary fuel source in the next decade. Another industry report issued last month touts the coming gains in US shale, predicting that the country will soon be the largest oil producer and possibly exporter in the world.
The Italian operator reported positive appraisal and exploration results from wells drilled some 10,000 km apart. UK operator Trident Energy is entering Brazil while Australian firm Karoon Energy is expanding its position in the country. Both will try to boost output from already-producing assets. Findings from Kayrros suggest the average Permian well is both less productive and more expensive than reflected in public data. Mexican President Andrés Manuel López Obrador is prioritizing investment in Pemex over foreign participation as a means to boost the country’s shrinking oil output.
Anchored by the Khaleesi-Mormont and Samurai fields, the King’s Quay FPS will receive and process up to 80,000 B/D of crude oil. UK operator Trident Energy is entering Brazil while Australian firm Karoon Energy is expanding its position in the country. Both will try to boost output from already-producing assets. The world’s largest oil producer has awarded $18 billion in engineering, procurement, and construction contracts as part of its Marjan and Berri expansion projects. The Norwegian operator will increase its ownership of the giant Johan Sverdrup field before the field commences oil production this November.
Petrobras and Shell have brought online the Lula field’s seventh FPSO as the firms continue to ramp up production from the pre-salt Santos Basin. The national oil company’s aim to lift oil and gas production and reserves over the next few years will rely on growth from big international projects, including those in Nigeria, Guyana, and the US. Majors BP and Chevron have overcome development challenges and delays to launch their respective Clair Ridge and Big Foot projects. The unit is flowing oil and gas from the Lula Extremo Sul area, 290 km off Rio de Janeiro state in 2150 m of water. The $28-billion Shah Deniz Phase 2 project off Azerbaijan will supply gas to Europe through the Southern Gas Corridor pipeline system.
The strategy supports the Maximise Economic Recovery from UK Oil & Gas Strategy and Vision 2035, whose goal is to achieve £140 billion additional gross revenue from UKCS production by that time. The projects are designed to reduce technical risks in enhanced oil recovery and expand application of EOR methods in conventional and unconventional reservoirs. In recent years, some effort has been made to use EOR techniques, particularly CO2 injection, to extract additional oil and gas from unconventional resources. This has the potential to change the dynamics (again) of oil production from these tight and difficult reservoirs. One of my best moments is to have made the technical case for polymer flooding and to see the fruits of this several decades later.
A study by a real-time monitoring company showed that many coiled-tubing strings are retired with a lot of life left in them. It suggested companies could lower costs by using pipe for a longer time and could benefit from multicompany studies showing how their decisions compare to the competition. This paper presents a factory-model approach to improving CT drillout performance that has been used successfully for more than 3 years and has become standard practice. The coiled-tubing (CT) industry, like other well-intervention segments, has applied lean philosophies to some aspects of its management, operations, processes, and equipment. When it comes to CT application to specific in-well operations, no two wells are the same.
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. Moving their directional drillers into their Houston real-time remote operations centers has improved drilling efficiency for two of the top shale producers. In its first 50 years, LNG has become the world’s fastest-growing gas supply source and is now part of an upheaval in the global energy market. Today, the sector stands at a crossroads, and the industry must adopt new thinking to address current and future needs of buyers, sellers, and consumers. There is a new, big independent in the UK North Sea, Delek Group.