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Demand is expected to pick up in the second quarter, according to OPEC’s president. But that doesn’t mean another extension is off the table.
Some analysts believe a substantial production increase from one field could be a game-changer.
International exploration and technology remain crucial to filling future energy demand.
Gas production is at its lowest mark in two months and 3.5% lower than the year-ago period, but still a bit higher than production tallies at the beginning of 2017.
Some countries may be better positioned to attract investment to meet future demand, according to a global risk consultancy.
Monster fractures and M&A are boosting regional activity in the ArkLaTex.
Armed with more efficient, less-costly ways to produce oil and gas, the ramp-up in U.S. shale activity is putting pressure on sand suppliers as E&Ps load more proppant in hopes of bigger payouts.
As prices and costs recover, a panel of experts at DUG Bakken & Niobrara said operators are continually scaling the completions learning curve.
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.
Crowd-sourced data reveal significant increases in well completion metrics.
Drillers added eight oil rigs in the week to May 19, bringing the total count to 720, the most since April 2015, energy services firm Baker Hughes Inc. (NYSE: BHI) said on May 19.
Drillers added nine oil rigs in the week to May 12, bringing the total count up to 712, the most April 2015, energy services firm Baker Hughes Inc. (NYSE: BHI) said on May 12. While that is more than double the same week a year ago when there were only 318 active oil rigs, the pace of those additions has declined with the total over the past four weeks falling to the lowest since March.
Vast gas resources offshore Mauritania and Senegal will benefit the two African countries and spur exploration, the CEO of Kosmos said.
U.S. energy firms added oil rigs for a 16th week in a row, extending a drilling recovery into a 12th month even as the pace of those additions has slowed in recent weeks as crude prices have held below $50 a barrel.
Partridge is a stratigraphic trap comprising deepwater mass flow sands of the Lower Cretaceous scapa sandstone member, the press release said.
The NRG Energy, JX Nippon and Hilcorp Energy project is capable of capturing more than 5,000 tons of CO2 per day, but the economics come down to oil prices.
The University of Wyoming said April 4 that $2.5 million in funding from Alchemy Sciences Inc. will support research on enhanced oil recovery and production.
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.
Gina Krog is estimated to hold 106 MMbbl of oil, 11.8 Bcm (417 Bcf) of gas and 3.2 million tonnes of NGL), which will be produced by using a fixed production facility and a storage vessel.
Production will be carried out via the John Agyekum Kufuor FPSO unit, which will produce up to 85,000 barrels of oil equivalent per day through 18 underwater wells, Eni said.
The Quad 204 project in the western Shetland region, also known as Schiehallion, is expected to ramp up production throughout 2017 to reach a level of 130,000 barrels per day, BP said in a statement.
Who will be the next LNG and gas export superpower? A Russian energy director and an American executive took their cases to Australia for APPEA 2017.
Despite numerous challenges, the world’s deepest production facility is poised for even more success.