Emerson will increase its foothold in the oil and gas industry with the purchase of software maker Paradigm. As the GE-Baker Hughes deal moves closer to finalization we now know who will be leading the combined company. The offshore drilling sector has taken a step towards consolidating an oversupplied market and Ensco will emerge from this most recent deal as the owner of the largest combined fleet of floaters and jackups. A Houston-based energy consultancy concludes that a series of downturn deals have contributed more to the resiliency of the US shale sector than a rise in oil prices.
Upward momentum in US industry operations continues to gather, as the survey conducted by the Federal Reserve for the just-completed fourth quarter of 2017 indicates. Drilling activity in US shale plays is slowing as operators encounter higher prices for labor, equipment, and services, and lower prices for the oil and gas produced.
Digital technologies serve as a primary theme of this year’s group, with a few environmentally conscious firms included in the mix. The well will immediately be brought on production and is expected to flow at more than 100 MMscf/D of gas and 3,000 B/D of associated condensate, the company said. The main goal of production logging is to evaluate the well or reservoir performance. The shale sector is studying the results of a 23-well experiment in the southeastern corner of New Mexico to learn what the wider implications might be. The shale sector is making moves to consolidate amid investor pressure to increase cash flow.
The difficulty in applying traditional reservoir-simulation and -modeling techniques for unconventional-reservoir forecasting is often related to the systematic time variations in production-decline rates. This paper proposes a nonparametric statistical approach to resolve this difficulty. In this work, the authors perform automatic decline analysis on Marcellus Shale gas wells and predict ultimate recovery for each well.
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. Completion engineers feel pressure to maximize production per acre and minimize the downsides of fracturing in tight spaces. Terry Palisch, talks about promoting knowledge sharing as part of JPT’s tech director report. Though crude prices are rising, US shale producers face questions over whether their improving oil production results and cost efficiencies will last as increasing drilling activity drives demand for oilfield services.
An area of great interest to those researching flowback is the interaction of water and salt inside the shale reservoir. After a well is stimulated, the flowback fluids tend to show a rising concentration of salt that falls back to near zero over time. Most shale producers in North America have given little thought to the flowback stage following hydraulic fracturing. Others have come to realize it represents a valuable opportunity to learn more about their wells. On the far end of the flowback spectrum is a completion process called soakback.
The F field in the Middle East currently has more than 40 producing wells in the center of the structure. The uneven well distribution limits the understanding of 3D reservoir characterization, particularly in the flank areas. A new technique that analyzes scanning electron microscope (SEM) images of formation samples has been used to measure porosity and total organic carbon (TOC) in the Wolfcamp Shale of the Delaware Basin in west Texas.
The current oil and gas commodity prices have posed several challenges to oil and gas companies operating in shale plays trying to generate revenue or even becoming cash neutral. The 1996 book, Lean Thinking, introduced lean to mainstream business. Since then, lean has propelled operational excellence in construction, software development, healthcare, financial services, state government, and more.