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.
Better information helps operators make better decisions in a tough environment. Using prescriptive analytics can make the difference, says Daniel Mohan, senior vice president of marketing for Ayata.
A ban on fracking by the Western Australia Labor Party would hold until it was shown that fracking doesn't compromise the environment, groundwater, public health or contribute adversely to climate change.
The move, which became effective immediately, gives the U.K. officials the authority approve, or deny, shale exploration permits.
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.
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.
Gas firm PGNiG and chief refiner PKN Orlen will jointly research eight exploration licenses near the Bieszczady Mountains in southeastern Poland, PKN said, Reuters reported.
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 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.
Encana said it had accelerated spending on the Permian Basin in Texas in the current quarter, with plans to invest $150 million in the shale field that was originally earmarked for 2016.
Chevron Corp. said earlier this year it gave up shale gas exploration plans in Romania after an assessment showed it "does not compete favorably" with other investment opportunities, Reuters said.
Upon closing, expected in fourth-quarter 2015, Total will hold a 29.2% interest in the Fort Hills project, alongside Suncor Energy (50.8%) and Teck Resources (20%).
The service companies made these offers to producers in bid to roll out new business line of refracking, in which existing wells are worked over to lift output, Reuters said.
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.
Some Dartmouth College professors led the research for the National Bureau of Economic Research study that examined data from more than 3,000 counties, determining that within 100 miles of new production, 2.49 jobs were created, Reuters said.
Chancellor Angela Merkel's coalition government will discuss finalized draft law on hydraulic fracturing to extract gas and oil this month. Party leaders signaled that an agreement is possible, Reuters said.
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.
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.
Britain plans to reduce greenhouse-gas emissions by 80% from 1990 levels by 2050. Government plans to shut coal plants and replace them with cleaner gas plants by 2025, Reuters reported.
Geologists at Federal Institute for Geosciences and Natural Resources used computer simulations to study what happens to frack fluids when injected into bedrock of the North German Basin, Reuters said.
Slim 37-vote margin came without parliamentary debate and it does not change policy banning fracking inside national parks, Reuters said. E&Ps can work at least 1,200m below surface in national parks.
Britain changed its planning rules in August to allow government intervention to approve or reject shale gas drilling permits and give priority to appeals involving shale gas projects.
Canada’s government said several oil companies, including Suncor, endorsed plan. Plan entails phasing out pollution from coal-fired electricity generation by 2030 and limiting emissions from oil sands operations, Reuters said.