EIA figures show production grew to about 584 Bcf in 2014 from about 475 Bcf in 2013.
With oil companies around the world cutting investment, U.S. output peaking and prices up, Saudi Arabia’s strategy will be extended at OPEC’s semiannual meeting on June 5, say Societe Generale SA and Bank of America Corp.
Paloch in Upper Nile state has re-emerged as the rebels’ prime target. Fighting that began in December 2013 has slashed oil output by at least a third to about 165,000 barrels per day, the Oil Ministry said.
Refracking makes up a small percentage of the total hydraulic fracturing market, but that could change in future years.
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.
According to a new IHS report, more than 170 mature oil plays worldwide have the potential from horizontal drilling and hydraulic fracturing to produce as much as 141 billion barrels of oil.
Service providers expect demand to stabilize mid-year.
Offshore Installation Services (OIS), an Acteon company, said it has been awarded a contract to decommission multiple wells in the North Sea by Centrica Energy.
Recycling water used during fracking operations has become increasingly important for shale operators in an effort to reduce use of freshwater.
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.
The underexplored Great Australian Bight off the coast of South Australia remains high on BP’s agenda with the supermajor taking the chance to talk up the opportunities of the frontier basin at the Appea conference and exhibition.
Milestone 800Mbbl/d oil production in Santos and Campos basin presalt fields was reached April 11. Petrobras’ share is about 74%. Remainder belongs to partner companies working in different presalt areas.
The Interior Department approved Royal Dutch Shell Plc’s two-rig, six-well plan in the Chukchi Sea, Bloomberg said. Arctic seas contain 24Bbbl of oil, the U.S. Geological Survey said.
Australia's Titan Energy Ltd. started commercial production on first well in multiwell program in Allen Dome area of Brazoria County, Texas. Titan has planned a five-well program in Allen Dome.
South Africa’s semi-desert Karoo region may hold as much as 390 trillion cubic feet of shale gas, which the government wants to tap to alleviate energy shortages, Bloomberg said.
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.
While the company is dedicated to Alaska offshore projects, it is also focused on the Permain, western Canada and the Utica Shale. ‘They are large enough to matter to a company the size of Shell,’ Odum says.
Erin Energy is engaged in drilling and completion operations on the Oyo-7 development well and expects to achieve first oil production from the well in a few weeks, according to the release.
The production license is valid until 2035 and covers about 50 sq km. Morskaya Field might hold 157Mboe in gross contingent resources.
LLC Petroresurs owns the field.
CB&I and Anadarko will plan LNG project with Mozambique’s government, people with knowledge of the private matter told Bloomberg. Anadarko and Eni operate areas 1 and 4 of Rovuma Basin.
Some Asian companies are probably discouraged by lower oil and gas prices, but others are motivated, according to a partner at Mayer Brown.