Exclusives

Plans include a new floating production platform that will be moored about six miles southwest of the existing Mad Dog Platform.

The U.S. shale landscape has transformed itself over the last several years and has finally hit the first downcycle for many producers.

drilling, rig, Eagle Ford, oil

Until commodity prices improve and stabilize, the Eagle Ford will remain overshadowed by the high-flying Permian Basin.

OPEC, production, U.S. shale, Vienna, Russia

The devil remains lurking in the details and non-OPEC countries such as Russia will shoulder a large portion of the burden. (Last updated 12:43 p.m. CT Nov. 30)

OPEC, meeting, production, Scott Sheffield, Pioneer, Permian, U.S.

If Saudi Arabia and other member nations fail to act, the organization may be relegated to irrelevancy as markets have already started to tighten.

Completion

Located in Zelienople, Pa., and servicing Pennsylvania, Ohio, and West Virginia, Cornerstone Completion Services (CCS) will provide thru tubing and fishing services to oil and gas exploration companies and gas storage and transmission companies.

Recovery might be closer, but batch completions still not keeping up with batch drilling.

EIA, DUC, well, drilled, well, uncompleted, oil, gas, Eagle Ford, Bakken, Marcellus, Wood Mackenzie

The latest data from the U.S. Energy Information Administration shows the number of drilled but uncompleted wells is falling.

When compared by vintage, both the Marcellus and the Utica have had improved overall EURs and IP rates since 2012.

An elevated amount of water used in the Eagle Ford could lead to logistical problems when oil prices increase.

Drilling

The Baker Hughes oil rig count plunged from a record 1,609 in October 2014 to a six-year low of 316 in May as U.S. crude collapsed from over $107 a barrel in June 2014 to near $26 in February 2016, Reuters reported.

The Canadian Association of Oilwell Drilling Contractors said a more stable U.S. benchmark crude oil price would lead to a 31% increase in the number of wells drilled to 4,665 next year from an estimated 3,562 by the end of 2016.

Rowan will supply two more rigs in late 2018 and Saudi Aramco will make a matching cash contribution, Reuters reported.

Full-scale projection requires a 890-kilometer (560-mile) pipeline, costing about $2.1 billion. The government said in October it aimed to sign a joint development deal for the pipeline soon, Reuters reported.

Drillers added two oil rigs in the week to Nov. 11, bringing the total count up to 452, the most since February, but still below the 574 rigs seen a year ago, energy services firm Baker Hughes Inc. (NYSE: BHI) said on Nov. 11.

Enhanced Oil Recovery

bio-EOR, EOR, technology, methane, microbial,  Transworld Technologies, Karl Weber, Activ8

Operators have alternatives when it comes to EOR technology and one process appears less costly than others.

nanosheet, nanofluid, oil, EOR, University of Houston

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.

EOG Resources, EOR, Eagle Ford, Austin Chalk, shale, oil, price, drilling, completions

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.

Field Development

Australia-based BHP outbid Britain's BP, the only other company that participated, with a $624 million offer to complement its 4% additional royalty bid, said Mexico's oil regulator, the national hydrocarbons commission (CNH).

U.S. oil demand in September rose by 2.3%, or 446,000 barrels per day, from a year ago to 19.86 million barrels per day, according to the EIA.

The companies also agreed BP could purchase another 5% of the field before the end of next year, when the Zohr field is slated to start production, under the same terms and that BP would reimburse Eni around $150 million in past expenditure.

Mozambique’s National Hydrocarbons Co. (ENH) said on Nov. 23 it had approved its investment plan for the Coral South gas project, offshore Mozambique, being led by Italian energy company Eni.

The agreement establishes contractual and commercial terms for a first phase of production for the field. The development will involve the drilling of one well, Total said.