Exclusives

refrac, refracturing, refrack, Baker Hughes, Weatherford, Fracknowledge, Eventure Global Technology, shale, unconventional, production

Talk of refracturing opportunities and challenges continue as companies seek cost efficiencies during a downturn brought on by a supply-demand imbalance.

Study shows unconventional North American shales with the most potential. The results are not surprising.

Baker Hughes, H.C. Freitag, drilling, completion, technology, shale, unconventional, DUG Rockies, oil, gas

Drilled but uncompleted wells in the U.S. provide an opportunity to examine new shale drilling and completion technology.

Rigs, EPs, drillers, down, count, production, Baker Hughes, oil, crude, prices, horizontal, Permian Basin, shale, North Dakota, Bakken, Barclays, Wells Fargo, David Tameron, Seaport Global, Ken Sill

Rig counts fall to their lowest levels since the early 1990s while oil companies slash production and drillers scuttle more of their fleets.

In advancing dust control technologies for use during fracturing operations, worker safety is improved, and the impact on air quality is reduced.

Deepwater International

The emerging Paleogene play in the US Gulf of Mexico continues to offer increasing encouragement for major deepwater discoveries, with Chevron confirming a significant find.

Shell's CEO Ben van Beurden says, "there is a lot more to do" in its North American deepwater sectors. 

Exploration

In a meeting that was webcast, commissioners of the regulator known as the CNH voted unanimously to allow companies not involved in the day-to-day operations of a deepwater oil field to hold a larger stake than the project operator. The previous rule required that the operator hold the largest stake.

The South Campeche UltracubeTM 3D seismic reprocessing project will cover a total of about 17,700 sq km.

Mexico's president says ‘this is not the time to stop.’ The country plans to launch another deepwater round in early December, which is its fourth auction.

Texas Railroad Commissioner, Ryan Sitton, oil, gas, OPEC, North America, Canada, United States, Mexico, alliance, energy, EIA

With a combination of technology, aligned transportation infrastructure and low cost business practices, North America could drive the global energy market, an elected official for Texas says.

Under the contract, ION said it is providing a broad range of seismic data processing for multiple offshore and onshore surveys. 

Production

Rig counts in North America have fallen again, dropping to 476 in the U.S. and to 69 in Canada, according to Baker Hughes Inc.’s (NYSE: BHI) March 18 report.

The report, released March 4, showed the U.S. oil rig count at 392, down eight from last week, while the number of gas rigs fell by five to 97.

Both wells will probably yield light or superlight crude, and are within the Mexican extension of the Perdido Fold Belt, which has been highly productive on the U.S. side, Reuters said.

IHS, frack, demand, North America, rig, cold stack, hydraulic horsepower, shale, service, oil, gas

An analytics firm forecasts more than 4 million hydraulic horsepower, which equates to about 25% of the overall frack supply, will be cold-stacked in the U.S. alone next year.

Eni has signed a production-sharing contract (PSC) with the Comisión Nacional de Hidrocarburos of Mexico (CNH) to develop the Amoca, Miztón and Tecoalli oil fields in the Bay of Campeche offshore Mexico, the company said in a news release.

Technology

Xtreme currently owns a fleet of 11 coiled tubing units in Saudi Arabia and the United States. The transaction is subject to customary closing conditions and is expected to close in the third quarter, Schlumberger said in the release.

Charlotte Kula has more than 30 years of accounting and finance experience across multiple sectors of the oil and gas industry, including services, drilling and shipping, Sigma Cubed said in a news release.

The company will eliminate more than $2.8 billion in debt from its balance sheet through the Chapter 11 restructuring, it said in a statement.

Mexico's oil output has slid for 11 consecutive years while crude prices have fallen about 70% since 2014, both of which have battered public finances, Reuters said.

Rule set a 3% minimum in 2015, which covered a few Pemex-operated projects, that would rise to a maximum of 8% in 2025, according to the government's official gazette, Reuters said.