As lower oil prices cut into profits, causing many to idle rigs amid plentiful supplies, some operators have added being less complex and more nimble to their survival kit.
Liquids-oriented E&P not afraid to drill vertically, deploy technology to gain the best economics in the Delaware Basin.
Numerical and statistical analyses of shale plays turn up some interesting results.
Refracking makes up a small percentage of the total hydraulic fracturing market, but that could change in future years.
The company, which specializes in engineering, procurement, construction and installation (EPCI), said a 475-position employee count reduction through the end of March is expected to result in a 2015 cash savings of $27.6 million.
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.
Houston-based Oceaneering will absorb 550 C&C personnel.
Research shows using microseismic data with refracks could help lift recovery from old wells, providing an alternative to drilling new wells.
Given lower oil prices, Mexico is carefully choosing which fields will be part of each round.
Chevron U.S.A. Inc. will work with BP Exploration and Production Inc. and ConocoPhillips Co. to explore and appraise 24 jointly held offshore leases in the northwest portion of Keathley Canyon.
Encana Corp. has completed the previously announced sale of certain Clearwater assets in Alberta to Ember Resources Inc.
Service providers expect demand to stabilize mid-year.
Mexico’s initial production sharing contracts will contain extended exploration periods for 14 shallow-water projects, Reuters said. Companies can meet test well requirements, said the head of Mexico’s national hydrocarbons commission.
The availability of dual-fuel engines and dedicated natural gas engines has created more fuel options in the oil patch.
Shell is committed to drilling for oil in Alaska despite opposition from environmentalists and a pledge to reduce spending.
Mexico produced 2.35 MMbbl/d of oil this month through Dec. 28, according to data the Mexico City-based company posted online.
Anadarko’s leader praises contributions of both.
Bernard J. Duroc-Danner, chairman of board, president and CEO, said the goal to reduce headcount by 18% this year will leave 39,000 employees in core businesses and 6,000 on rigs.
By using a CAT scan-like technology in the Eagle Ford, hopes are to better understand geology to effectively adjust well spacing and completion designs.
Nicolas de Coignac will lead all Vallourec businesses in North America, and worldwide drilling operations. He will report to Philippe Crouzet, chairman of Vallourec Group.
Fire and explosion killed four workers and injured 16, Bloomberg said. The oil processing platform is part of Abkatun-Pol-Chuc complex, which produced 251 Mbbl/d oil, 405 MMcf/d gas in March.