As natural gas producers work to improve wellhead economics, the timing of proposed LNG projects and declining U.S. exports could impact future production.
Longer laterals and debundling services are among the cost-saving and value-generating moves as E&Ps aim for higher returns amid lower commodity prices.
Evidence is increasingly emerging in Norway that its recent lean-and-mean approach is paying dividends, reducing previously prohibitive costs to economically viable levels.
Operators at DUG Eagle Ford indicate they are getting more from the play at lower costs.
Better insight, including on calcite and ash bed layers, could lead to better frack designs, greater stimulation and ultimately, more production.
Shale players are optimizing processes and techniques as they cope with market realities. The efforts, which have already led to drilling and production efficiencies, continue.
Further optimization could lead to better frack designs, stage and well spacing, greater production and ultimately, more profit.
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.
Canacol expects 2016 to have near-record EBITDAX of about $135 million.
Mubadala Petroleum, operator of the Manora oil development joint venture in the northern Gulf of Thailand, said Sept. 15 that drilling of the MNA-17 well is now completed, according to Tap Oil Ltd.
Statoil said the first phase of Johan Sverdrup development will be completed in the period of 2018-2022. Continued low oil prices may affect these plans, the company added.
Current EIA estimates show DUC counts at the end of August totaling 4,117 in the four oil-dominant regions and 914 in the three gas-dominant regions that together account for nearly all U.S. tight oil and shale gas production.
Ecuador s also one of the world's most biodiverse nations, boasting Amazon rainforest, Andean mountains and the Galapagos Islands, Reuters reported.
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.
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.
BP signed amendments to the Temsah, Ras El Barr and Nile Delta Offshore concessions in Egypt, allowing for the development of the Nooros Field, Reuters reported.
The 15-year deal for Leviathan, which holds an estimated 22 Tcf of gas, should help the U.S.-Israeli group secure funds to bring it online.
The field, Enping 18-1, is currently producing about 2,010 bbl/d of crude oil from three wells. It is located in the Pearl River Mouth Basin with an average water depth of about 90 m (292 ft).
Ghana could become the fourth biggest oil producer in sub-Saharan Africa by 2020 once two new offshore fields come onstream, to push total output above 240,000 barrels per day.
It will be the biggest pipeline project in the country and had won government approval in 2007 but could not move forward.