The desire to maintain market share in the long run and avoid losing business when the market recovers likely means proppant companies will not force customers to live up to their contracts.
Lower oil prices have prompted companies to ramp up the search for technologies aimed at improving efficiency, growing production and adding profits.
Older fields can become technically challenging, potentially becoming costly burdens. But operators are using new techniques to grow production.
Santos drilled 16 wells in the GLNG acreage during the first quarter, which included 15 development wells in Roma and one appraisal well in Fairview, while 39 wells were completed as producers.
The aim is to start production from the field via the geostationary FPSO unit in late summer this year, Dalan added. Currently, two wells are being drilled; five wells have already been drilled and completed.
For the Netherlands, the EU's biggest gas producer, less gas could reduce national income by almost 2 billion euros ($2.1 billion), according to the Ministry of Economic Affairs, Bloomberg said.
Delta 2 is the 10th project in Statoil's fast-track portfolio to be completed.
The lawsuit, filed in Washington federal court, follows a petition by the groups to the regulator in 2012 seeking a rule that would require oil and gas companies to disclose such pollution to a government database.
The New York state Health Department said fracking for natural gas can’t be done safely, dooming prospects that Governor Andrew Cuomo will allow the extraction process after a six-year-moratorium.
Experts talk about the sector’s past, present and future.
The quarter ended March 31. RMP Energy used slickwater fracks recently, on five horizontal wells at the Waskahigan and Grizzly areas in the Montney Formation.
U.S. Interior Secretary Sally Jewell said Arctic drilling mishaps taught Shell better management of companies handling its critical offshore aspects, Bloomberg said. Interior Department recently confirmed Shell’s Alaska exploration lease.
Average gross production in Turkmenistan’s Cheleken contract area was about 88,700 bbl/d in the first quarter. This was a 23% increase over the corresponding 2014 level.
In January Eni signed a new concession agreement to operate in the Melehia Southwest Block, where exploration and other activities will begin later this year.
The gas was found at 1,307 m (4,288 ft) and well testing delivered a gas flow rate of 175 Mcm/dand 90 bbl/d of condensate with a 32/64-in. choke.
Boulder Energy Ltd. will work in DeeThree’s Belly River development in the Pembina-Brazeau area of Alberta. Granite Oil Corp. will work in DeeThree’s Bakken EOR project in southern Alberta.
First oil is planned for late 2019.
Coreflooding measures the effectiveness of water or gas injected into an oil-bearing rock sample to displace oil. This can be used to assess the potential for water flooding in an oil field, BP said in a news release.
The NRG Energy and JX Nippon Oil & Gas project aims to turn waste into revenue using technology.
Participating companies must have made discoveries in the Barents Sea and/or have two or more operated licenses north of 73 degrees north. The project will begin immediately.
A Chevron Corp. unit will start on May 9 to shut oil fields Saudi Arabia is developing jointly with Kuwait after parties failed to resolve differences to keep the project running.
Valemon is a new Norwegian Continental Shelf project, said Arne Sigve Nylund, executive vice president--Development & Production Norway. There is a high-pressure/high-temperature reservoir. Expected recoverable reserves are 192 MMboe.
The SNE-1 and FAN-1 wells were the first deepwater wells drilled offshore Senegal in 26 years. They discovered oil and yielded key data for updating predrill geological models.
Anadarko and project partners estimate there is 75 Tcf of exploitable gas offshore Mozambique, Bloomberg said. The Rovuma Basin could hold 120 Tcf technically recoverable reserves, a consultant said.