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The report details information obtained during the EPA’s outreach to stakeholders. The information in the report will help the EPA determine whether any future actions are appropriate to address oil and gas extraction waste water further. Elevated concentrations of strontium, an element associated with oil and gas waste waters, have accumulated in the shells of freshwater mussels downstream from wastewater disposal sites, according to researchers from Penn State and Union College. With concern growing that the underlying geology in the Permian Basin is reaching capacity for disposal wells, the Trump administration is examining whether to adjust decades-old federal clean-water regulations to allow drillers to discharge waste water directly into rivers and streams. The US Environmental Protection Agency (EPA) is embarking on a new study that will take a holistic look at how the EPA, states, and stakeholders regulate and manage waste water from the oil and gas industry.
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.
Africa (Sub-Sahara) San Leon Energy reported encouraging performance from its OML 18 field in Nigeria. Reperforation of an oil well increased gross field production to approximately 61,000 B/D before output was temporarily scaled back to 53,000 B/D for a shut-in, upgrade, and workover of the well. A number of other field wells will be reperforated in coming months, the company said. San Leon holds a 9.72% interest in the field, which is operated by Eroton (35%). Nigerian National Petroleum Corp. holds the remaining stake. FAR said that drilling has begun on the SNE-5 appraisal well offshore Senegal. The well and the following SNE-6 well will evaluate the upper SNE reservoir units' connectivity and deliverability by oil flow testing that will include interference tests.
The international major is calling its latest multiwell project in the Permian Basin a “beacon of innovation.” The goal is to see if combining digital technologies will lower the operating costs of its shale assets. Reduced investment in US shale will continue to weigh down the global oilfield services market through 2020. The company said it will avoid the pumping business's “structurally disadvantaged position” and instead focus on well servicing and water logistics. Proved oil reserves totaled 43.8 billion bbl at yearend 2018 while proved gas reserves amounted to 504.5 Tcf, both topping records set in 2017, the US Energy Information Administration said.
Knowing which horizon crude oil flows from and in what proportions has been a major challenge for shale producers. Increasingly, they are turning to new technology to find the answer. Figuring out how far apart to place horizontal wellbores remains one of the biggest challenges facing the future of the shale revolution. One roadblock appears to be the way in which the sector has traditionally measured these distances. Equinor, Microsoft, and Halliburton are among those joining forces.
Producers and investors continue to reward small companies with big solutions that lean on new software and hardware to lift the bottom line of one the world’s few trillion-dollar industries. The international major is calling its latest multiwell project in the Permian Basin a “beacon of innovation.” The goal is to see if combining digital technologies will lower the operating costs of its shale assets. For the past 20 years, the diagnostic fracture injection test has been used across the frontlines of the shale revolution to paint a picture of what cannot be seen. However, that picture has not always been so clear in the eyes of subsurface engineers.
Merging new knowledge and technological capabilities among the disciplines—and beyond—will be crucial to sustaining the industry for the long term. First oil from the 120,000-B/D Liza Destiny FPSO is flowing ahead of schedule. Lower oil prices and capital discipline are expected to result in a double-digit drop in shale and tight oil spending, while deepwater momentum is seen continuing. This comes as “massive investments” will be needed in the next decade to meet growing oil demand. The Anchor development in the US Gulf of Mexico is the first ultra-high-pressure project requiring 20-ksi operating pressure to reach a final investment decision.
The withdrawal comes at a time of increasing tension between the US and Iraq, which makes investment in the country riskier. Merging new knowledge and technological capabilities among the disciplines—and beyond—will be crucial to sustaining the industry for the long term. The largest natural gas field in the rising Eastern Mediterranean region is now flowing after being discovered a decade ago. First oil from the 120,000-B/D Liza Destiny FPSO is flowing ahead of schedule. The international major is calling its latest multiwell project in the Permian Basin a “beacon of innovation.”
Amid weakening confidence and volatile market conditions, greater efficiencies and decarbonization are at the center of the industry’s agenda. The companies will focus on research and development to reduce CO2 emissions and promote the circular economy. Landmark deal called most significant since 1979 peace treaty. As capital markets dry up and shale producers look for pathways to growth, oil and gas data analytics firm Enverus predicts the US sector will see a “surge” in mergers and acquisitions in 2020. The complete paper explores technical and economic development options to produce heavy-oil resources at commercial rates and showcases three optimization scenarios of higher recovery efficiency aimed at increasing net present value at the basin level.
The firm has outlined a restructuring plan that will see it sell off subsidiaries and erase more than $4.6 billion in debt. The Italian oil and gas company used a “fast track” model to get the first production well flowing from the Agogo field. The companies will focus on research and development to reduce CO2 emissions and promote the circular economy. Landmark deal called most significant since 1979 peace treaty. 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.