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Recent trends and new technology indicate operators and service companies are thinking outside of the box and experimenting with different methods and techniques to grow production.
Positive trends, such as Europe’s improving economy and a counterbalance of lingering oversupplies, has the industry poised for better days, according to Stratas Advisors.
The engineering contracts follow two others awarded earlier this month for U.S. Gulf of Mexico development.
Beach Energy, Santos, Strike and Senex have been named recipients of AU$24 million in grants from the South Australian government.
Once the Iraqi military concludes its campaign against the Islamic State in Mosul and surrounding territory, it will seek to reacquire territories disputed between Baghdad and the Kurdistan Regional Government.
Crowd-sourced data reveal significant increases in well completion metrics.
One pilot involves increasing the number of stages per well, while the other focuses on higher proppant loading.
Particle analysis and real-time tracking are just two of many areas where new technologies are driving innovation in proppant efficiency and well productivity.
One company’s ‘super-lateral’ approach is paying significant dividends.
Bakken E&P companies turn their sights on reducing drilled but uncompleted wells backlog.
Drillers added 21 oil rigs in the week to March 24, the biggest weekly increase since the week to Jan. 20, bringing the total count up to 652, up from a six-year low of 316 in May, energy services firm Baker Hughes Inc. (NYSE: BHI) said March 24. During the same week a year ago, there were 372 active oil rigs.
Turkey, which supports a breakaway Turkish Cypriot state in northern Cyprus and is highly influential there, says the Greek Cypriot-led government of the island has no right to explore for hydrocarbons, Reuters reported.
Britain is estimated to have enough trapped shale gas to meet its gas needs for decades. However, the use of fracking is opposed by environmental campaigners, Reuters reported.
Gas supply has become a hot issue following blackouts and brownouts in Australia's eastern states over the past year, and as growth in LNG exports has led to soaring gas prices for manufacturers, Reuters reported.
Drillers added 14 oil rigs in the week to March 17, bringing the total count up to 631, the most since September 2015, energy services firm Baker Hughes Inc. (NYSE: BHI) said March 17. During the same week a year ago, there were 387 active oil rigs.
The captured CO2 is expected to grow oil production at the West Ranch oil field by 5x its current amount over the next few years.
Operators have alternatives when it comes to EOR technology and one process appears less costly than others.
Researchers were able to achieve 15% tertiary oil recovery using a nanofluid of graphene-based amphiphilic nanosheets that are effective at low concentrations.
Thermal production is expected to take longer to restart than mining output because of steaming and heating processes involved and because some thermal projects remain inaccessible due to fire, Reuters said.
As the company awaits market rebalancing, it is pursuing EOR technology and improving completion designs to enhance efficiency and production.
The subsea facilities include wells and a subsea template, a pipeline to Sleipner A, and an umbilical for controlling and monitoring of wells.
Plans for the $1.2 billion development include a four-well subsea template tied back to the Heidrun platform, where it will be processed before moving via the Polarled pipeline to the Nyhamna onshore gas terminal and onto the European market, DEA said.
TechnipFMC has been awarded a contract by ENI Ghana E&P Ltd., a subsidiary of ENI, GNPC and Vitol, for the onshore part of the OCTP development of the Sankofa Field offshore Ghana.
Statoil confirmed on March 21 its cost estimate for developing Norway’s Johan Sverdrup oil field, the largest North Sea discovery in decades, and announced contract awards for the second and final construction phase.
The scope of the contract, valued at $245 million, includes one new process platform with gas processing and compression facilities, three new wellhead platforms, a 32-km pipeline, clamp-on on three existing platforms and modification work on eight existing platforms in the Neelam Field offshore India, the release said.