In a low-cost environment, operators need to watch every penny. New technologies are helping them save money and improve production.
Proactive approaches will set shale players up for long-term success.
EIA figures show production grew to about 584 Bcf in 2014 from about 475 Bcf in 2013.
Liquids-oriented E&P not afraid to drill vertically, deploy technology to gain the best economics in the Delaware Basin.
Whether it is in shales, tight sands or CSG, the number of international oil companies jumping into the Australian plays to 'crack the code' is increasing along with spending.
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.
China’s end-of-decade shale gas production target was reduced to around 30 Bcm, about one-third the original goal. There is difficult geology, lack of infrastructure and limited exploration rights, Bloomberg said.
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.
Companies still need to match the need for capital and the degree of risk tolerance to the type of capital the companies use.
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.”
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.
Study indicates loss of conductivity, surface area, and continuity over time.
With trillions of cubic feet of natural gas reserves trapped in unconventional formations, countries worldwide are clamoring for North American technology to unlock those resources.
With an estimated 50% of perforation clusters and 25% of stages not contributing to production from wells in all of the major shale plays, Schlumberger is focused on reducing the number of defective wells and improving completion quality.
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.
Integrating geomechanics with drilling fluid design successfully mitigates time-dependent wellbore instability in Middle East fields.
Statoil is monitoring acquisition possibilities while focusing on exploration with no gaps in its investment portfolio, CFO Torgrim Reitan told Bloomberg. Statoil plans to spend $3.2 billion on 2015 exploration.
Australia has the seventh-biggest potential shale gas resources and sixth-biggest shale oil resources, EIA said, according to Bloomberg. Chevron’s recent pullout from Nappamerri Trough signals the country’s overall shale challenges.
Apache will cut the number of rigs it uses to drill for oil by 70% by the end of the month, the company said Thursday in a statement.
Further investment would follow if the company moved into development and production.
The unconventional revolution is making a big impact, bringing benefits along with concerns.
Around 150 to 200 employees and contractors will be laid off, Talisman spokesman Brent Anderson said, and employees will be notified beginning this week, Reuters said.
Saudi Arabia’s shale development could replace the equivalent of 900 Mbbl/d of crude and fuel oil used for electricity. Saudi Aramco's LinkedIn ad for a shale-experienced petroleum engineer drew 160 applicants in a month, Reuters said.
Mitchell’s use of hydraulic fracturing in North Texas changed the industry.
Russia’s OAO Gazprom Neft could produce about 40Mbbl/d of crude from the Bazhenov shale deposits in 2018, an expert told Bloomberg. Bazhenov is source rock for West Siberian crude.
Third Energy submitted a planning application to North Yorkshire County Council for natural gas production from Bowland strata underneath North Yorkshire, U.K. The resources will be used to generate electricity.
Bloomberg said Europe’s largest oil companies are forming a joint strategy on climate change. Climate change-related policies can affect industry operations. Natural gas—the most-used fossil fuel—pollutes the least.
Canada’s Environment Minister Leona Aglukkaq announced new greenhouse-gas emissions regulations pledge, Bloomberg said. Oil and gas sector will have new methane regulations to cut emissions by about one-third by 2030.
The Queensland Government has put 11,000sqkm of exploration acreage up for grabs, with most of the available land concentrated in the prospective Cooper and Eromanga Basins.