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Learn more about training courses being offered. Learn more about training courses being offered. This course covers the fundamental principles concerning how hydraulic fracturing treatments can be used to stimulate oil and gas wells. It includes discussions on how to select wells for stimulation, what controls fracture propagation, fracture width, etc., how to develop data sets, and how to calculate fracture dimensions. The course also covers information concerning fracturing fluids, propping agents, and how to design and pump successful fracturing treatments. Learn more about training courses being offered. Current and future SPE Section and Student Chapter leaders are invited to engage and share.
The large independent says while it is proud of its origins and history, it must make a move to attract new investment and be seen more as an oil producer than a gas producer. 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. With big shale mergers dominating the headlines, some of the industry’s most influential financial players gathered to discuss what’s driving the shift in operational and fiscal priorities. Companies such as Google, Schlumberger, Shell, and Encana are working to turn the industry’s rat’s nest of data into a goldmine of insight, analysis, and technology. These days, it is all about digital.
The provider of subscription-based analytics services for the North American oil and gas sector continues its streak of purchasing data-focused firms. Findings from Kayrros suggest the average Permian well is both less productive and more expensive than reflected in public data. Fed by big data loads from big operators, a university consortium and software firm are each working to make upstream data access as quick and easy as a Google search. Is the Cloud Mature Enough for High-Performance Computing? Data volumes are growing at an exponential rate.
With US oil prices struggling to top $25, oil companies and service providers are making deeper cuts this month to cope. The biggest come from Halliburton which may have shed 5,000 total jobs since the start of the year. While many shale producers are racing to cut costs by removing crews from the field, ExxonMobil and Chevron stood out as maintaining large numbers of fracturing crews. Halliburton and Schlumberger write-off billions in asset value and signal that more job cuts are coming during the second quarter. ExxonMobil and Halliburton made additional cuts in spending and personnel.
Schlumberger is getting rid of its struggling OneStim business unit 2 years after an acquisition that doubled its size. It will get 37% of the shares of Liberty Oilfield Services, which said it will be the second-largest player in that sector. The new geothermal project development company will offer expertise in subsurface and drilling, project development, and risk mitigation. A lot about the blowout preventers used for offshore drilling has changed since Macondo in 2010, but the essentials remain. This evolution serves as a case study on why some oilfield technology is hard to change.
The V-shaped recovery for oil demand is likely to end up looking lopsided. The recent rapid rise in consumption is expected to stop before it gets back to the peak seen earlier this year. In the region’s second bankruptcy of the month all of the operator’s assets will be sold to a private equity energy group, pending court approval. The Gulf of Mexico E&P exited its first bankruptcy quickly with a strategy that included the acquisition of Noble Energy’s GOM assets, which increased its production volumes 25% when the WTI approached $80/bbl. Fieldwood’s financial woes in today’s economics may be tougher to overcome.