Exclusives

ExxonMobil, profit, earnings, production, exploration, Woodbury

The company is paying attention to demand growth as it works to maximize shareholder value.

Real-time monitoring of CO2 in EOR applications is made possible with K-waves.

BP, production, oil, projects, upstream, gas, Brian Gilvary

The company expects startups of 2016 and 2017 projects to put in place 500,000 barrels per day of new net BP capacity by year-end 2017.

refrac, refracturing, refrack, Baker Hughes, Weatherford, Fracknowledge, Eventure Global Technology, shale, unconventional, production

Talk of refracturing opportunities and challenges continue as companies seek cost efficiencies during a downturn brought on by a supply-demand imbalance.

Doha, Qatar, Iran, Saudi Arabia, OPEC, Russia, oil, production, freeze, crude, prices, WTI, Baird, Reuters, Charlie Brown, Charles Schluz, Peanuts, David Elmes, Warwick Business School, Prince, Mohammed bin Salman, Vikas Dwivedi, Macquarie Research, Brian

While oil prices have edged up since a freeze was first discussed in February, market fundamentals, including declining U.S. production and international disruptions, may be the surest course to rebalancing price.

Completion

Baker Hughes, H.C. Freitag, drilling, completion, technology, shale, unconventional, DUG Rockies, oil, gas

Drilled but uncompleted wells in the U.S. provide an opportunity to examine new shale drilling and completion technology.

CnF, Flotek Industries, FracMax, MHA Petroleum Consultants, lawsuit, hydraulic fracturing, Denver Julesburg, DJ, report, investigation, SEC, lawsuit

The report is the first of several analyses of the additive’s performance in three core basins, with this one focusing on the Greater Wattenberg area of Colorado’s Denver Julesburg Basin. 

IHS, frack, demand, North America, rig, cold stack, hydraulic horsepower, shale, service, oil, gas

An analytics firm forecasts more than 4 million hydraulic horsepower, which equates to about 25% of the overall frack supply, will be cold-stacked in the U.S. alone next year.

The increase is due to improved completion practices in the Eagle Ford and D-J Basin and the accelerated ramp-up and early performance of Big Bend and Dantzler in the GoM.

Noble Energy, DJ, Eagle Ford, production, completions, slickwater, hybrid gel, Dave Stover

Noble Energy’s slickwater completions are outperforming other methods in the D-J Basin, but the jury is still out on whether such techniques will be successful elsewhere.

Drilling

rig count, rig, Baker Hughes, oil, gas, drilling, shale, basin

For the week ending April 15, the North American count dropped to 480, compared to the 1,034 rigs that were pumping about a year ago.

Tambar, BP, offshore, Norway, unmanned wellhead platform

A study provides Norway with insight on a development concept the region has not used as much as others across the world.

Baker Hughes, rig count, oil, gas, U.S., Canada, worldwide, downturn, price

The latest figures from the Baker Hughes Inc. (NYSE: BHI) weekly rig count show only 443 rigs were pumping in the U.S. this week.

Results from the Katmai appraisal well are expected in the early part of the fourth quarter of 2016. Potential development at Katmai would likely involve a subsea tieback into existing infrastructure. 

The $1-billion rig, which was at the center of a fierce diplomatic stand-off between the countries in 2014, had moved into an area of the Gulf of Tonkin over which, Vietnam said, the two countries were still “executing delineation discussions.”

Enhanced Oil Recovery

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.

GlassPoint Solar, EOR, solar, oil

The oil industry’s demand for energy is growing rapidly, and solar can supply much of that power, GlassPoint Solar CEO Rod MacGregor said.

royalty interests, Cenovus, Encana, Ontario Teacher's Fund, megadeal

The Ontario Teachers’ Pension Plan buys oil and gas royalty company Heritage Royalty for C$3.3 billion to acquire one of the largest royalty, mineral interests in Canada despite down commodity prices. 

Australia-based Elk Petroleum Ltd. is actively exploring the idea of sourcing CO2 from a corn-ethanol plant to feed into its EOR activities in Nebraska.

Data from the EIA’s latest drilling production report projected about 16 MMcf/d will be produced in the Marcellus alone in July, up from about 15 MMcf/d in July 2014.

Field Development

The oil field is expected to reach its ODP designed peak production of about3,900 barrels of crude oil per day in 2016.

At full rate production, the facility is designed to produce up to 10,000 bbl/d of natural gas condensate and 200 MMcf of recycled gas. It is anticipated to reach that level when the west pad well is online in a few months.

Kazakhstan’s oil Kashagan project will likely be launched in June 2017, Wang Zhongcai, the first vice president of China National Petroleum Corp, told reporters April 21 at an energy conference in Moscow.

Zohr, discovered by Eni last year, has an estimated 30 trillion cubic feet (Tcf) of gas. It is expected to plug Egypt’s acute energy shortages and save it billions of dollars in precious hard currency that would otherwise be spent on imports.

Discovered in 2007, the Julia field comprises five leases in the ultra-deepwater Walker Ridge area of the GoM. ExxonMobil, the operator, and Statoil Gulf of Mexico LLC each hold a 50% interest in the Julia unit.