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.
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 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.
Texas regulators rejected a rare challenge to gas flaring in the state after an oil company argued that a flaring ban would force it to shut in wells, damaging the reservoir and reducing future oil production. There is every reason to believe that enhanced oil recovery through huff-and-puff injections in US tight-oil plays could be a technical success across large numbers of wells. However, widespread economic success remains uncertain. This paper demonstrates how engineers can take advantage of their most-detailed completions and geomechanical data by identifying trends arising from past detailed treatment analyses. This paper studies the technical and economic viability of this EOR technique in Eagle Ford shale reservoirs using natural gas injection, generally after some period of primary depletion, typically through long, hydraulically fractured horizontal-reach wells.
Several giant LNG developments earlier this decade suffered from runaway costs and delivery slippage. Can the industry deliver projects on time and on budget in this new investment cycle? During a panel discussion at the recent Davos 2019, World Econominc Forum's Annual Meeting, Hess CEO John Hess summarized the importance of US shale production.
Cross-energy analyst and cofounder of Energy Aspects Richard Mallinson discusses how global policy and geopolitics have continued to evolve with the prolific US shale production. The asset evaluation process in the oil and gas industry is not purely technical or limited to the evaluation of the asset’s production performance. Careful consideration is also given to the business environment, fiscal policy stability, and political stability of the country, among other factors.
Premium acreage costs in the Permian have increased industry interest in acreage swaps, divestment, and M&A activity. As the Permian Basin has boomed again, recent conversations focused on how pipeline takeaway capacity limits the ability of operators to develop the basin to its full potential. In addition to solving the takeaway problem, water management is another bugbear waiting to be addressed. CCUS is an interdisciplinary research field and its broad scope means that CCUS offers numerous opportunities for science and engineering graduates, including petroleum engineers. The construction of the Dakota Access Pipeline sparked a broad, clamorous online debate on social media platforms.