Norway’s oil and gas era kicked off more than 50 years ago, but recent corporate activity demonstrates that plenty of life and potential remain in this mature province.
Operators have alternatives when it comes to EOR technology and one process appears less costly than others.
Low crude prices and lack of gas-directed drilling bump up against growing demand. The result could be a price jump for U.S. natural gas.
Further optimization could lead to better frack designs, stage and well spacing, greater production and ultimately, more profit.
The company is preparing for a third phase of exploration and appraisal drilling.
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.
Net profit at the company fell nearly 48% in the second quarter to 787 billion Colombian pesos (US$270.6 million), Reuters reported.
Tests showed a crude oil flow rate of 2,406 barrels per day, Sonatrach said in a statement.
Kuwait is a major member of OPEC, pumping about 3 million barrels per day, Reuters reported.
The North American rig count jumped by 18 this week to 582. The count was 1,089 a year ago.
High attrition is expected to ease the excess drilling supply, bringing a supply and demand balance in 2017.
Researchers were able to achieve 15% tertiary oil recovery using a nanofluid of graphene-based amphiphilic nanosheets that are effective at low concentrations.
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.
As the company awaits market rebalancing, it is pursuing EOR technology and improving completion designs to enhance efficiency and production.
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.
Oil production is expected to gradually increase toward 80,000 barrels per day (bbl/d), the FPSO capacity, Tullow said in a news release. The annual average production will be about 23,000 bbl/d gross (11,000 bbl/d net for Tullow).
TEN is one of the main developments offshore Ghana that the company is depending on to help it sustain and grow cash flow as it also moves forward on exploration.
"Incahuasi is one of the largest gas and condensate fields brought onstream in Bolivia," Arnaud Breuillac, head of the group's E&P unit, said in a statement.
Nobody has claimed responsibility for a blast at the Trans Ramos Pipeline near Odimodi, operated by Shell's joint venture SPDC, which locals said happened in the early hours of July 31.
ExxonMobil saw its earnings fall in the second quarter to $1.7 billion, a nearly 60% drop from the same period in 2015.