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.
Mexico’s energy company is struggling and auctions continue to lag, particularly in unconventional areas.
Two D-J Basin players reflect on lessons, accomplishments and the future of Colorado’s hottest play at the COGA Energy Summit.
Of the 13 MMbbl/d of new supply that could come from tight oil and conventional projects by 2025, 9 MMbbl/d is commercial at $60 oil, according to an energy consulting firm.
There are signs the bottom is at hand, which is the first step in recovery.
The industry is divided on hydraulic fracturing technology. An objective view is needed to sort out the confusion and decide on best processes.
Developers of a new technology say the process can remove nearly all organic materials from produced water.
A polymer, which replaces guar in fracing fluid, has been utilized by Halliburton in Magnum Hunter’s wells in the Eagle Ford, resulting in higher flow back and improved production.
The contract is BP’s first shale gas PSC in China and covers an area of about 1,500 sq km, BP said. CNPC will be operator.
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.
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.
Energy Information Administration estimates Mexico has more than 60 billion barrels of shale resources. This would provide more than 35 years of Mexican oil supply at current U.S. production levels.
Saudi Arabia could pump 50 million cubic feet per day of shale gas in 2016, Reuters reported. Unconventional gas potential was appraised in the northwest, Eastern Province and Empty Quarter.
With the huge number of wells required for shale gas or coal-bed methane development, companies are implementing lean manufacturing models for these “gas factories.”
Vorpal's Drill2Frac helps optimize fracturing operations through the optimal placement of perforation clusters. Enventure’s expandable ESeal Refrac Liner provides mechanical zonal isolation of existing perforations.
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.
Problematic areas have included perforation issues, loss of fracture length, and sometimes wellbore connectivity.
Data integration and analysis over a shale play provides clear indications of where to drill and what technologies to utilize.
Freshwater, not typical slurry, will run through pumps, significantly reducing need for replacement parts and number of pumps needed on frack job, Energy Recovery CEO Joel Gay said.
Shale producers can save 30% of the drilling cost with walking rigs, which can move from one wellbore to another--10 meters in less than an hour, Reuters said.
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.
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.
China holds 31.2 Tcm (1,115 Tcf) of estimated technically recoverable shale gas reserves.
The company raised its asset sales target to more than $2 billion from $1.2 billion-$1.7 billion as it looks to reduce its crippling debt burden and cope with weak oil and gas prices.
WPX Energy, which entered the Permian Basin in 2015 with its $2.3 billion-plus acquisition of RKI Exploration, is bullish on the sub-basin. The company is among those focusing on the the Upper and Lower Wolfcamp A, both of which are proven productive.
The sub-basin was heralded during the DUG Permian Basin conference as one of the industry’s bright spots as companies continued to cope with the cyclical ups and downs of life in the oil patch.
The start-up of Suncor's base plant and MacKay River sites is under way, with "initial production" expected by the end of the week, the company said in a statement, which noted initial production at its Firebag site began early last week.
Over the past 24 hours, the Fort McMurray fire has advanced to the south and south east of the city. The fire front is estimated to be within 5 km of the Hangingstone site, a news release said.
Britain is estimated to have plenty of shale gas resources in place, enough to cover the country's annual gas needs for hundreds of years, Reuters reported.
Lourdes Melgar previously served as deputy energy minister for electricity, will leave the government as it continues to implement the energy reform, Reuters reported.
Fire aboard P-48 FPSO vessel started at about 1 p.m. local time as platform was being shut down and has since been put out, according to workers' union, Reuters reported.
CEO Miguel Galuccio's resignation will take effect at the end of next month, a YPF spokesman told Reuters on March 9. He was appointed in 2012 by then-President Cristina Fernandez after she seized control of the company from Spanish oil giant Repsol.
Based in Houston, Trenton Thornock will oversee WellDog’s global finance operations, leading the finance team and supporting continued expansion in North America and Asia-Pacific.
The EPA cited research showing that 28% of all CO2 produced by the burning of fossil fuels over the past 250 years has been absorbed in the world's oceans, Reuters reported.
Right before the summit, China and the U.S. jointly announced they had ratified the Paris climate change agreement, a significant step for the world's two biggest emitters of greenhouse gases, Reuters reported.
The 2017 auctions will follow three auctions that began last year covering both shallow-water and onshore blocks.
Britain needs to cut the amount of electricity it generates using fossil fuels, such as coal and gas, which provided around 50% of the country's electricity in 2015.
Germany's gas industry has warned restricting fracking could increase the country's dependence on imported energy, much of which it imports from Russia, Reuters said.