The top 10 frack sand suppliers claim 55% of total business, while more than 40 companies make up the remaining percentage.
Service companies with technology that impacts efficiency, cost and risk are seeing an increase in customers.
The reasons for the sale weren't disclosed, but in April, Shell said it was buying BG Group Plc, which has a global portfolio of LNG, for about $70 billion.
Of the 14 blocks up for bid, eight received no bids and four had bids thrown out because they did not meet the government’s minimum requirements.
A major IOC is set to use CO2 and proppant in a first of its kind test well in the Bakken Shale.
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.
The July 15 auctions are the first opportunity for private companies to explore for oil and gas in Mexico since the nationalization of the country’s crude industry on March 18, 1938.
Knowledge gained from earth-modeling efforts enables companies to better use geological findings to determine which way to direct the drillbit.
The agreement that Harbour Energy Ltd. and Mexico’s ALFA had to buy Toronto-based Pacific Rubiales for CA$2 million fell through. ALFA’s CEO said the offer “correctly valued” Pacific Rubiales.
Pemex is focusing on the upcoming farm outs and was dissuaded from bidding after falling oil prices crimped earnings, according to Mexico's energy minister.
Mexico's Energy Minister Pedro Joaquin Coldwell said that awarding just 30% to 50% of the 14 contracts in first phase of Round One oil auction would be acceptable, Reuters said.
Refracking has been met with enthusiasm—especially when it works—and skepticism, but in order to move forward, the industry needs a large-scale refracking program and more investment IHS says.
Per-stage pricing for well stimulation services have fallen from $80,000 to $90,000 for standard plug and perf in fourth-quarter 2014 to the mid-$50,000 range in second-quarter 2015, according to Hart Energy telephone surveys. But the carnage in oil services pricing could be nearing the end.
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.
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.
Under the terms of the contract, ConocoPhillips is obligated to pay Ensco termination fees monthly for two years equal to the operating day rate of about $550,000, which may be partially defrayed should Ensco re-contract the rig within the next two years and/or mitigate certain costs.
In a low-cost environment, operators need to watch every penny. New technologies are helping them save money and improve production.
Nicolas de Coignac, president, North America, said the personnel appointments will streamline synergies between drilling, accessories, service and other operations, benefiting the France-based tubular solutions company’s North American customers.
The Houston based company said the new facility marks the next stage in its global expansion plan.
Schmitz will succeed H. Richard Walton, who has been named CFO emeritus, the company said in a news release.