Exclusives

Mediterranean, oil, gas

Egypt has emerged from the turmoil of the Arab Spring to reestablish itself as the Mediterranean’s most attractive offshore province.

oil, production, tanker

The release of floating oil volumes will introduce additional supply into an already saturated market and exacerbate the number of unsold Mediterranean, North Sea and West African cargoes in the Atlantic Basin.

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. 

DUG East enhanced completions Marcellus shale Utica

Companies are focusing on enhanced completions among other techniques and technology to boost production in the Marcellus and Utica shale plays, but cluster efficiency remains an area of concern.

Australia-based Elk Petroleum Ltd. is actively exploring the idea of sourcing CO2 from a corn-ethanol plant to feed into its EOR activities in Nebraska.

Completion

Understanding drainage volume and improved permeability of stimulated rock is essential to forecasting production, according to MicroSeismic Inc.

Effective completions, flawless execution and multi-lateral wells are emerging techniques for cost-conscious operators looking to improve results. 

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.

Halliburton, Baker Hughes, oilfield service, mergermarket, Canary LLC, Weatherford, Tudor, Pickering, Holt, A&D, oil deals, industry, M&A

Potential buyers have had to cut employees, and so far few companies are going out of their way to aggressively buy frack fleets or other equipment.

Drilling

The suspension will take effect once Scarabeo 5 has completed drilling a well on the Kristin Field in the middle of August. 

James Parsons, CEO of U.K.-based Sound Oil Plc, said smaller E&Ps have an opportunity to expand projects while prices are low and larger E&Ps grapple with debt, Bloomberg said.

Local officials in Lancashire County, England, rejected Cuadrilla Resources Ltd.’s plans to drill shale gas at Preston New Road site, Bloomberg said. Roseacre site drilling plans were rejected last week.

NOAA granted Royal Dutch Shell permission to use noise from air guns, ice breaking, drilling and anchor handling to disturb Arctic wildlife in renewed oil exploration offshore Alaska, Bloomberg said.

Contract drilling fleets of Trinidad Drilling Ltd. and CanElson Drilling Inc. will combine after the companies combine under court-approved plan. The combined Canadian company will have 163 land drilling rigs.

Enhanced Oil Recovery

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.

The project will use 4-D seismic imaging, horizontal drilling and pump technology. Polymer chemical injection technology’s role in maximizing economic recovery of U.K. hydrocarbon reserves will be demonstrated.

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.

Field Development

The Appomattox development will initially produce from the Appomattox and Vicksburg fields, with average peak production estimated to reach about 175,000 barrels of oil equivalent per day (boe/d), a news release said.

Yuval Steinitz, minister of national infrastructure, energy and water resources, presented proposed guidelines for Israel’s offshore gas reserves, Bloomberg said. Development of one of the largest deepwater discoveries could result.

The first well has been brought online and the second well is scheduled to start up in late summer, Husky said.

The steel jacket now being built at Kværner Verdal will weigh 26,500 tonnes, Statoil said.

Top Israeli ministers meet about regulatory stall over developing Tamar and Leviathan offshore gas fields. Proposed plan has Noble and Israel’s Delek selling stakes in smaller offshore fields, Bloomberg said.