An elevated amount of water used in the Eagle Ford could lead to logistical problems when oil prices increase.
Longer laterals and debundling services are among the cost-saving and value-generating moves as E&Ps aim for higher returns amid lower commodity prices.
Better insight, including on calcite and ash bed layers, could lead to better frack designs, greater stimulation and ultimately, more production.
Shale players are optimizing processes and techniques as they cope with market realities. The efforts, which have already led to drilling and production efficiencies, continue.
Further optimization could lead to better frack designs, stage and well spacing, greater production and ultimately, more profit.
A new resource assessment gives this unconventional play world-class status.
The company is counting on growing “premium inventory”—wells that generate rates of return of at least 30% at $40/bbl oil— to increase resource potential.
Enhanced completions onshore and subsea tiebacks offshore are contributing to production gains, but low commodity prices are taking away profit potential.
The technology uses an industry standard downhole data logger to collect data from which measurements are made and fracture locations pinpointed.
All stages were successfully stimulated with acid, with clear pressure indications of packers setting, balls landing and sleeves shifting, the release said.
WPX Energy, which entered the Permian Basin in 2015 with its $2.3 billion-plus acquisition of RKI Exploration, is bullish on the sub-basin. The company is among those focusing on the the Upper and Lower Wolfcamp A, both of which are proven productive.
The sub-basin was heralded during the DUG Permian Basin conference as one of the industry’s bright spots as companies continued to cope with the cyclical ups and downs of life in the oil patch.