At Hart Energy’s Viewpoint Executive Energy Club, Stratas Advisors directors gave industry executives a wide-ranging view and key to competing in the upcoming year.
Some industry observers have likened the basin to the Haynesville Shale in Louisiana, where production peaked at 100 billion cubic feet per day.
Chad, Kazakhstan, Oman and the United Arab Emirates are believed to have vast shale resources capable of boosting production and adding revenue. However, economics could stand in the way.
Chinese companies’ shale development effort comes as slumping commodity prices have caused others to lay down rigs and forgo completions in the U.S. and pull away from emerging shale plays elsewhere.
Weatherford’s OmniWel in-well optical production and reservoir monitoring systems will combine with OptaSense’s DAS technology to improve reservoir management/ EUR. Technologies include DAS-VSP vertical seismic profiling, DAS-HFP hydraulic fracture monitoring.
The neoBASIN study evaluated a 6,000-square mile area in Lebanon’s onshore northern half and in the transition zone along Mediterranean coast. Only seven wells have ever been drilled in Lebanon.
The geo-consulting business line of Paris-based CGG acquired Calgary, Alberta-based Taurus Reservoir Solutions Ltd. Taurus provides conventional and unconventional reservoir and geomechanical simulation, engineering technology and consulting services.
According to Reuters, the United Arab Emirates-based company did not provide a timetable or prospect for finding oil or gas in the Mediterranee Ouest area.
Bloomberg said that the company, which found gas deposits in the Red Sea in 2012, plans to more than double investment in unconventional sources of the fuel, according to its CEO.
Long offsets, wide line spacing and fine spatial sampling can deliver economic large-sale 3-D surveys.
Impairment is latest caused by BHP's badly-timed push into U.S. shale in 2011, when it spent $17 billion on two acquisitions while oil and gas prices were much higher, Reuters said.
In a statement, Argentina’s YPF said the accord involved a pilot project in the Bajada de Anelo Block, located in Neuquen province that would run until mid-2018, Reuters reported.
Wintershall Energía S.A. and Gas y Petróleo del Neuquén S.A. have signed an agreement under which Wintershall will increase its interest in the Aguada Federal Block in central Argentina from 50% to 90%, according to a news release.
YPF estimates the Vaca Muerta deposit contains 661Bbbl of oil and 1,181Tcf of natural gas, making it one of the biggest shale reserves in the western hemisphere, Reuters said.
The assets being sold are predominantly non-operated and consist of 10,290 net acres with an average working interest of 39%, according to a news release.
The well, which is 80 percent owned by Total and 20 percent by Denmark's state oil company Nordsofonden, confirmed the presence of gas but the thickness of the layer was smaller than expected.
Independent assessment of Horse Hill well has estimated there could be about 271 million barrels of oil per square mile. The prior estimate in April of 158 million, Bloomberg said.
Well 25/6-5 S hit a 10-m (33-ft) gas column in the Hugin Formation in Middle Jurassic reservoir rocks near the Skirne Field in the central North Sea.
San Leon Energy plans to drill a horizontal well that, if successful, could lead to commercial production.
The Kronos-1 well, jointly owned with Anadarko, discovered hydrocarbons at 3,720m at the well in the Fuerte Sur Block, Reuters said. Colombia is Latin America’s fourth-biggest oil producer.
UK Oil & Gas Investments Plc found more than 8 Bbbl of shale oil in Horse Hill Field in Weald Basin. The basin is near London’s second-busiest airport, Bloomberg said.