Exclusives

In a low-cost environment, operators need to watch every penny. New technologies are helping them save money and improve production.

Data from the EIA’s latest drilling production report projected about 16 MMcf/d will be produced in the Marcellus alone in July, up from about 15 MMcf/d in July 2014.

Harvard, shale, action plan

Harvard project emphasizes maximizing shale potential, eliminating export restrictions, building out pipelines and other infrastructure, and developing cost-effective emissions standards.

The industry can benefit quickly by approaching Big Data from the place of maximizing value by minimizing complexity.

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.

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

Mexico forecasts that the opening of the energy industry will bring in $62.5 billion in private investment by 2018 and increase its annual oil output by 500,000 barrels a day in that time.

Through a cooperation agreement, multiclient seismic imaging company Spectrum Geo and oilfield services company Schlumberger Ltd. will jointly acquire and process Spectrum’s offshore Mexico Campeche-Yucatan 2-D regional multiclient program.

Next phase of Mexico’s Round One includes an offering of 26 onshore conventional fields in Burgos, Tampico-Misantla and Salinas-Sureste basins. This round’s qualification criteria differ from the shallow-water development round. 

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.

Production

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.

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.

Technology

Liquids-oriented E&P not afraid to drill vertically, deploy technology to gain the best economics in the Delaware Basin.

Pemex reported a loss of $6.5 billion in the first quarter as crude production slid and international oil prices fell. The company’s oil production has fallen for 10 straight years, and it’s banking on the entrance of foreign producers into the country to reverse the trend.

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.

Frank Patterson replaces John Kapchinske, who recently retired from the company.

Anadarko methane leaks

Anadarko’s leader praises contributions of both.