Productive wells are the product every company seeks; proper execution and coordination of all team members are the keys to unlocking value.
The one-day performance tests, which regularly spike company shares on their results, don’t provide enough data to predict future potential, according to a study.
At 2015 Arctic Frontiers, ConocoPhillips’ Greg Leveille digs into the environmental, security and economic benefits of the unconventional resource revolution underway in the U.S.
This huge country has had to look, learn—and invest—in resources outside its own borders just as much as it has at home to find the key to unlock the subsurface riches that it undoubtedly possesses.
Vast shale deposits are beckoning, but the geology needs to work.
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.
Chevron Corp. may pull out of a shale-gas project in western Ukraine, further frustrating the country’s efforts to cut its dependence on Russia.
Long offsets, wide line spacing and fine spatial sampling can deliver economic large-sale 3-D surveys.
Oil firms have criticized South Africa’s government for delaying issuing exploration licenses, especially in the Karoo Basin, which could hold up to 390 Tcf of technically recoverable reserves, Reuters said.
For the Netherlands, the EU's biggest gas producer, less gas could reduce national income by almost 2 billion euros ($2.1 billion), according to the Ministry of Economic Affairs, Bloomberg said.
The unconventional revolution is making a big impact, bringing benefits along with concerns.
Operators in North American shale plays are using more than 5 MMlbs of frack sand per well.
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.
Tanzania could hold 53.28 Tcf of gas, and this estimate could increase four-fold in five years. But the country’s parliament has not yet passed legislation governing the hydrocarbons industry, Reuters said.
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.
A Labour Party amendment to the Infrastructure Bill working its way through Parliament will mean barring hydraulic fracking unless 13 gaps in regulation are filled, it said in a statement.
Further investment would follow if the company moved into development and production.