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The US Forest Service, which is working with FERC to prepare the review of the export terminal off the Oregon coast, said it only recently received critical information needed to complete amendments to its land and resource management plans. First gas is scheduled for 2025. Calgary-based Pembina Pipeline Corp. has entered into agreements to acquire Kinder Morgan Canada Ltd. and the US portion of the Cochin Pipeline system from Kinder Morgan for a total purchase price of approximately $4.35 billion.
The unseasonably warm weather in the northern hemisphere and the rise of the global supply levels has resulted in record-low LNG prices. Adding to that, the coronavirus epidemic in China has reduced business and industrial activity, with January’s LNG imports dropping by about 10% year on year. In a filing with the US FERC, Plains All American Pipeline said it would begin charging shippers an additional fee on its Cactus II pipeline to offset higher construction costs incurred in the wake of US steel tariffs. Louisiana state granted a tax incentive to LNG Ltd. for its Magnolia project in Lake Charles. The decision may alleviate some of the pressures oil and gas producers faced in the wake of their imposition last year.
With declining trends in production and dwindling reserves for a 35-year-old offshore field, the Samarang Redevelopment Project was initiated with a vision toward implementing integrated operations as an asset-management decision-support tool. This paper describes a case study in which four reservoir models were coupled with a production-network model, with the objectives of maximizing recovery factors, identifying operational problems, and evaluating water-production effects.
Equinor has chosen four suppliers for inspection services on all offshore installations on the Norwegian Continental Shelf and onshore plants in Norway. The frame agreements, estimated at $383 million, are scheduled to be signed soon. The new deals, valued at approximately $2.9 billion over 3 years, cover services for liner hangers, downhole monitoring, and additional completions on the NCS. Called Eelume, the underwater drone will perform subsea inspection, maintenance, and repair work. A project of “firsts,” Equinor’s Aasta Hansteen spar platform began producing gas on 16 December, opening a new region for gas export to Europe and the UK.
A new play in the Permian Basin is unconventional in an unexpected way: there is a small group of independents producing from a watery formation where oil production begins after they have pumped only water for weeks. Research into whether CO2 can be used to coax billions more barrels of oil from unconventional formations is beginning to show promise.
The E&P sector has maintained a strong focus on capital discipline during its recovery from the 2014 oil price downturn, as investors look for companies to generate free cash flow to help pay down debt. How will this focus affect sector growth in the near term? The decision may alleviate some of the pressures oil and gas producers faced in the wake of their imposition last year. Canada and Mexico made up a combined 20% of US imports of oil country tubular goods in 2017. How will a US steel tariff affect the oil and gas supply chain?
In the shale oil business, cash flow is a life or death issue. For smaller players, money from investors and lenders is getting harder to find. 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.
Described as Brazil’s first-ever integrated SPS and SURF project, the development will include 19 wells, approximately 130 km of rigid risers and flowlines, and 35 km of umbilicals. In a $60 to $70 oil environment, the subsea market is poised to grow around 7% annually up to 2025. But a significant portion of this activity is at risk if the price of Brent crude falls to $50 per barrel. From its record high in 2014, purchases of subsea equipment and SURF fell around 50% until reaching a low in 2018. New data suggest that the subsea market will be a top-performing oilfield service segment.
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. Good diagnostic testing is often painstaking, time-consuming, and costly, but recent studies suggest that a lack of knowledge can be even costlier. Good reservoir detective work costs money, but two studies show how it can help identify even more expensive problems.