Exclusives

oil supply, WTI, Brent, Henry Hub, EIA, production, shale

The U.S. might not need shale oil growth now, but from 2017-2020 demand will require an additional 0.7-0.9 MMbbl/d annually, an analyst said.

Chuck Davidson, Quantum Energy Partners, Mayer Brown, oil, natural gas, OPEC, rebalance, production, private equity, DUC

How the industry ‘gets out of this mess’ will require addressing financial issues and carefully allocating capital. Opportunities remain.

LLOG, Delta House, Gulf of Mexico, oil

LLOG doesn’t care about being the first or the biggest. But its attention to fundamentals makes it one of the best.

Tim Duncan, Talos Energy, Mexico, oil, Gulf of Mexico, U.S.

Technology such as wide azimuth seismic and reprocessing older data is leading to oil in the U.S. Gulf of Mexico and the opportunity to find more in Mexico’s shallow water for Talos.

methane, emissions, oil, gas, API, EPA, rules, regulations, TIPRO

The EPA’s efforts to address climate change include a goal of cutting 2012 methane emissions by up to 45% in less than a decade.

Completion

EOG Resources, EOR, Eagle Ford, Austin Chalk, shale, oil, price, drilling, completions

As the company awaits market rebalancing, it is pursuing EOR technology and improving completion designs to enhance efficiency and production.

refrac, refracturing, refrack, Baker Hughes, Weatherford, Fracknowledge, Eventure Global Technology, shale, unconventional, production

Talk of refracturing opportunities and challenges continue as companies seek cost efficiencies during a downturn brought on by a supply-demand imbalance.

Baker Hughes, H.C. Freitag, drilling, completion, technology, shale, unconventional, DUG Rockies, oil, gas

Drilled but uncompleted wells in the U.S. provide an opportunity to examine new shale drilling and completion technology.

CnF, Flotek Industries, FracMax, MHA Petroleum Consultants, lawsuit, hydraulic fracturing, Denver Julesburg, DJ, report, investigation, SEC, lawsuit

The report is the first of several analyses of the additive’s performance in three core basins, with this one focusing on the Greater Wattenberg area of Colorado’s Denver Julesburg Basin. 

IHS, frack, demand, North America, rig, cold stack, hydraulic horsepower, shale, service, oil, gas

An analytics firm forecasts more than 4 million hydraulic horsepower, which equates to about 25% of the overall frack supply, will be cold-stacked in the U.S. alone next year.

Drilling

In the autumn of 2015, the Aasta Hansteen Field’s startup was postponed one year, until the last half of 2018, effectively postponing the field’s drilling program. 

The extension of reservoirs in the eastern extent of the SNE Field, more than 5 kilometers (km) to the east and downdip of SNE-3 was confirmed.

Larne Basin has broad similarities to Carboniferous-sourced East Irish Sea Basin to the southeast, which has produced more than 200 MMbbl of oil and 4 trillion cubic feet of natural gas.

Drillers in Canada added five oil rigs and two gas rigs this week, but the U.S. total dropped by nine.

Brazil's state-run oil company Petrobras expects to drill 65 new wells in 2016 and kept its forecast for average output during the year at 2.145 million barrels per day, the company said in a presentation after its quarterly earnings release on May 12.

The company reported a quarterly loss of 1.25 billion reais ($358 million).

Enhanced Oil Recovery

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.

Real-time monitoring of CO2 in EOR applications is made possible with K-waves.

Polymer Services focuses on field application of polymer gel treatments for enhanced or improved oil recovery using equipment to blend, apply and monitor the treatments in the field, a news release said.

GlassPoint Solar, EOR, solar, oil

The oil industry’s demand for energy is growing rapidly, and solar can supply much of that power, GlassPoint Solar CEO Rod MacGregor said.

royalty interests, Cenovus, Encana, Ontario Teacher's Fund, megadeal

The Ontario Teachers’ Pension Plan buys oil and gas royalty company Heritage Royalty for C$3.3 billion to acquire one of the largest royalty, mineral interests in Canada despite down commodity prices. 

Field Development

Drilling operations will be performed by drilling contractor RN-Burenie for RN-Sakhalinmorneftegaz, a Rosneft subsidiary. RN-Sakhalinmorneftegaz’s infrastructure will be used in the field’s development, Rosneft said.

In one encouraging sign for the oil and gas industry, Shell said on May 9 it restarted production at a reduced rate at its Albian oil sands mining operation in Alberta, adding it plans to fly staff in and out.

Rafael Cruz, Petrobras, Lula, field, oil

Production from the field is pushing Petrobas closer to its 1-MMbbl/d presalt goal

Eni’s Goliat development represents much of what is both best and worst about offshore megaprojects, a technological marvel but with giant-sized budget and schedule challenges.

Project management, engineering and installation of 70,000 ft of insulated rigid flowline and insulated steel catenary riser as well as a control umbilical, PLEM jumper and associated flying leads were included in the work scope, a news release said.