|Theme||Visible||Selectable||Appearance||Zoom Range (now: 0)|
Something that struck Brian Price as odd when he started selling chemicals to shale producers a few years ago was how few of them were thinking about whether the fracturing additives they pumped might cause trouble downhole. The man who is now vice president of technology and strategic optimism at Rockwater Energy Solutions--yes, it is optimism--had spent years working offshore. Engineers working in the Gulf of Mexico worried about the possible impact of chemicals pumped into highly permeable sandstone reservoirs made up of minerals such as quartz and feldspar. Both are fairly inert compared to the highly reactive mix in shale formations. While the job of offshore teams is to methodically consider how to maximize production from a few high-cost wells that are expected to produce for decades, those in the shale business have used standard designs to mass-produce wells in bad-quality rock, with a goal of maximizing production in year one.
Water is the most commonly used fluid in hydraulic fracturing, and it is used in large quantities. Chemicals are added to the water to aid in fracturing and prevent damage to the reservoir, and normally less than 1 percent of the fluid contents are chemical compounds. Because fracturing involves a large amount of water, innovations to reuse/recycle and safely dispose of the water are an important part of environmental stewardship. Hydraulic fracturing is the process of pumping fluid into a wellbore at an injection rate too high for the formation to accept without breaking. During injection, the formation's resistance to flow increases, and the pressure in the wellbore increases to a value called the break-down pressure, which is the sum of the in-situ compressive stress and the strength of the formation.
Oklahoma City-based Chesapeake Energy said today its is buying fellow gas producer Vine Energy in a deal valued at $2.2 billion. Chesapeake said the acquisition will make it the largest producer in the Haynesville Shale with an average production of about 1.6 BCF/D. The operator will finance the transaction using 8% cash and 92% in stock. The deal comes as US natural gas prices (NYMEX) enjoy multi-year high prices of around $4.00/MMBtu and about 2 months after Southwestern Energy's acquisition of another Haynesville operator, Indigo Natural Resources, for $2.7 billion in a stock-and-cash deal. The North American shale sector has been on a steady drive to consolidate and return more value to shareholders since oil prices crashed more than a year ago.
The price of adding oil in shale plays will be rising this fall as the supply of wells that were drilled but uncompleted (DUCs) runs low. In the top five US shale plays, the total has dropped from more than 6,300 DUCs at the peak in the spring of 2020 to around 4,500 now, according to a report from Rystad Energy. That is the lowest since the fall of 2018 when oil prices were far lower than the current $70/bbl. Back then, the current price would have caused drilling to explode and production to rise, but not this year. Drilling is up this year from last year's deep slump, but it is just keeping up with the declines in older wells.
Oil and gas executives across the North American shale sector are continuing to come to the table and negotiate a steady stream of deals to consolidate portfolios. During the second quarter, the deal making amounted to more than $33 billion in mergers and acquisitions, according to data from Enverus. The energy-focused analytics firm said last month in its quarterly review the combined figure represents more than 40 deals, with seven of them topping $1 billion each. The third quarter has so far not seen any announced transactions surpass the $1-billion mark. Instead, most deals struck in July were between mid-sized and small US-based operators.
The paper aims to determine the mechanisms of fracturing interference for multiwell pads in shale gas reservoirs and evaluate the effect of interwell fracturing interference on production. Field data of 56 shale gas wells in the WY Basin are applied to calculate the ratio of affected wells to newly fractured wells and understand its influence on gas production. The main controlling factors of fracturing interference are determined, and the interwell fracturing interacting types are presented. Production recovery potential for affected wells is analyzed, and suggestions for mitigating fracturing interference are proposed. The WY shale play is in the southwest region of the Sichuan Basin, where shale gas reserves in the Wufeng-Longmaxi formation are estimated to be the highest in China.
Petroleum is any hydrocarbon recovered from the subsurface of the earth after drilling such as oil and gas.Oil and gas provide about 60% of all the energy used by the society today. They provide fuel for means of transportation and they are a must for the daily life requirements including: heating, lighting and cooking. They are used in most of manufacturing processes around us such as: synthetic fabrics, plastics, fertilizers, detergent and many other purposes. Briefly, no one can imagine the world without oil and gas. Most people know the source of petroleum is plants and animals that died millions of years ago.
SPE TWA received numerous high-quality nominations from different parts of the world. An exhaustive, three-step evaluation framework developed by the TWA committee was used. The nominees were evaluated on various scales such as academic and technical credentials; quality of work experience; awards; positions of responsibility; volunteering; and academic, industrial, and social impact. The result was the selection of 17 TWA Energy Influencers whose candidature had the intrinsic qualities of going above and beyond.
This paper describes an artificial lift technology, a subsurface compressor system (SCS), that simultaneously removes liquids, increases gas production, and improves recoverable reserves in gas wells. The subsurface compressor can reverse the vicious cycle of liquid loading, which decreases gas production from a gas well and leads to premature abandonment, by creating a virtuous cycle of increased gas and condensate production. The first field trial of the technology in an unconventional shale gas well supports the mechanism of subsurface gas compression and its benefit to unconventional gas production. This paper focuses on the latest deployed design. As with all SCS systems, this unit has three major components (Fig.