Technology Exclusives

Exxon Mobil, earnings, profit, quarter, production, oil, gas

Liquids volumes increased 11.9% to 2.3 million barrels per day (MMbbl/d) mainly due to new developments in Angola, Canada, Indonesia, Papua New Guinea and the United States, company says.

Santos, GLNG

The Santos-operated GLNG project is set to be the second project to commercialize CSG to LNG in Queensland, behind the BG Group-led QCLNG project. 

Iran, oil, production, sanction, investment

The country’s oil and gas sector development also hinges on the capacity to lure capital and technology from foreign companies, according to a report.

talent management, job cuts, oilfield services, KPMG

Some companies are offering employees flex leave to stay connected during downtime, experts say.

Korean vessel makers are racking up debt and could show billions of dollars in losses when they report earnings.

Technology Completion

Refracking, shale, horizontal drilling, IHS, Bloomberg

Refracking has been met with enthusiasm—especially when it works—and skepticism, but in order to move forward, the industry needs a large-scale refracking program and more investment IHS says.

Understanding drainage volume and improved permeability of stimulated rock is essential to forecasting production, according to MicroSeismic Inc.

This latest patented invention relates to fluid treatment and, more particularly, to an improved treatment apparatus for destroying aerobic and anaerobic bacteria in fluids used in oil and gas recovery and conditioning of said fluid for reuse, Ecosphere said in the release.

A process called forward-osmosis is applied to clean water used in hydraulic fracturing.

Technology Contracts

The 12-month contract, valued at $6 million and effective immediately, will be delivered from WGK’s Perth office, a news release said.

Uncertainties about Croatia-Montenegro border affected the planning of blocks, a source told Reuters. Croatia’s Hydrocarbon Agency said a new onshore and offshore licensing round would be called in September.

Requirement that consortia bidding on blocks must have one member as guarantor and $6 billion in shareholder equity to protect Mexico’s interest if major accident occurs will ease, Reuters said.

The contract covers the procurement and installation of a 3.2-km flexible flowline between the existing KAKG-A central processing platform in Kanowit Field to the PFLNG1 riser, according to the release. It also includes modification and tie-in works at KAKG-A.

KBR's scope includes onsite construction management and direct hire field construction services at the Fort Hills Secondary Extraction facility, a news release said.

Technology Digital

The industry can benefit quickly by approaching Big Data from the place of maximizing value by minimizing complexity.

Using technology to generate, process and analyze data can lead to improved operations.

Predictive analytics

With big data and predictive analytics, operators can use production surveillance, comparing predictions to new actuals to determine how a particular oil or gas asset is performing. In response, adjustments can be made to improve production and overall operations.

Asset Guardian Solutions specializes in protecting companies’ process critical software assets.

Under the five-year contract, BP said it will offer courses next year in a new-state-of-the-art Maersk Training facility in Houston.

Technology Downhole

Where ACTIVATE has been used, operators see about an 80% increase in EUR per well and a 66% reduction in cost per barrel of oil equivalent from refracked wells verus new wells, Halliburton said in a news release.

Etienne Roux, vice president of drilling services, said Revolution has drilled 284 vertical-curve lateral wells in a single run in the last year and half. This totals 2.4 million feet.

Manufacturing and engineering firms see the first green shoots of activity improvement as the industry retools for the future. 

The TAM FastSwell technology utilizes a proprietary process that alters the geometric design of the elastomer to provide ultra-fast, but predictable and controlled swell rates for challenging downhole conditions.

Technology Equipment

The rise in the rig count this week was the biggest increase since April 2014. It was, however, only the third addition over the past 33 weeks, bringing the total rig count up to 659, the highest since late May.

The jackup rig renter cut 15% of workforce, or 324 jobs, in November. More than two-thirds of the holders of its outstanding debt support imminent bankruptcy protection filing, Reuters said. 

Snyder, Texas-based Patterson-UTI said its margins were improving and its U.S. rig count was stabilizing, while Calgary-based Precision Drilling said it expected its market share to improve due to demand for high-tech rigs.

FLNG, Quest Offshore, FPSO, Shell, Prelude, Golar

Quest Offshore called the outlook for nine FLNG orders through 2019 “positive” despite the figure being 25% lower than the previous forecast due to today’s market conditions.

Companies shoulder much of costs for large-scale redundant platform decommissioning as sales in ageing oil fields remain few, Reuters said. Urgency to sell assets has grown on low oil prices.

Technology Operations

Production was 2.60 million barrels per day for second-quarter 2015, up about 2% from the same period last year, Chevron said in a news release.

Centrica will shed 6,000 jobs from its nearly 37,500 staff but expects to create 2,000 jobs in new business areas. 

Iranian officials recently said the country, an OPEC member, targets projects worth US$185 billion by 2020, Reuters reported. A pro-market economic policy package designed to win foreign investment was outline.

Zonal Xwanco and Campo Maripe indigenous communities protest over their territorial claims to Loma Campana Field in Argentina’s southern Neuquén province, Reuters said. Neuquén holds almost all shale production. 

Shell joins BP Plc and Chevron Corp. in cutting costs as the world’s biggest oil producers grapple with a 50% slump in crude prices in the past year. They are reducing jobs, deferring projects and selling assets to strengthen their balance sheets and maintain dividend payouts.

Technology People

CFO Jeff Sheets told Reuters that an ongoing review of operations "is going to result in more jobs cuts." He declined to say how many positions will be eliminated. 

The appointment of Graham Yerbury follows the resignation of Andrew Price, who has been appointed CFO of PanAust Ltd., a news release said.

Statoil's CEO, Eldar Saetre, predicts oil prices will reach $80/bbl by 2018, Reuters said. “We think there will be some time before we will see a balanced market,” he said.

In next few years, BHP will cut about 100 jobs in Melbourne, Australia, Reuters said. Commodities have fallen. There are more than $2 billion in impairments on U.S. shale operations.

Carin Knickel served as vice president, human resources, for ConocoPhillips Inc. from 2003 until her retirement in 2012.

Technology Regulations

Block SC55 covers 9,880 sq km in southwest Palawan Basin in a proven oil and gas fairway. Maersk Venturer drillship will arrive at Hawkeye-1 well location at end of July.

State-owned Nigerian National Petroleum Corp. will be split into an independent regulator and an investor vehicle, said Femi Adesina, spokesman for President Muhammadu Buhari, Reuters reported. 

Italian oil company Eni was awarded three licenses covering 23 blocks, while Shell received one license to explore 10 blocks, government data showed, Reuters said. 

Shell is set to become the largest Brazilian offshore foreign operator after it completes the merger with BG, which it announced in April.

Mexico, Round One, oil, gas, blocks, Gulf of Mexico, Phase 1

Commodity price uncertainty aside, issues raised after Mexico’s Round 1 Phase 1 can be addressed to move the country toward its goal of growing production and strengthening its economy.