Unconventional Exclusives

As a result of this decision, all Chevron equity interests in the joint ventures will return to Beach Energy for nil consideration.

The Noble Julia Robertson jackup rig successfully appraised the Kew Field in 2009, with the tight-gas field’s proven recoverable reserves put at 1.1 Bcm (37.4 Bcf). (Source: Centrica)

An offshore project in the U.K. North Sea has shown how small tight gas formations can be produced when the region needs all the help it can get.

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.

Greg Leveille, general manager for the Unconventional Reservoir Technology Program, ConocoPhillips (Source: Pernille Ingebrigtsen/Arctic Frontiers 2015)

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.

Unconventional Exploration

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.

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. 

Garth Braun, chairman, president and CEO, said the company can now attract midstream investments for takeaway. Blackbird now has 51,840 acres in its core project.

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. 

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. 

Unconventional Production

The quarter ended March 31. RMP Energy used slickwater fracks recently, on five horizontal wells at the Waskahigan and Grizzly areas in the Montney Formation.

ExxonMobil is co-venturer with Brazil's Petrobras and Italy's Eni in the Hadrian South, in the U.S. GoM's Keathey Canyon area. Hadrian South is ExxonMobil’s deepest subsea tieback.

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. 

Unconventional Technology

March 30, 2015

The Maritime province's government requires five conditions be met before the one-year moratorium is reconsidered or lifted. Regulations cover environment and health, wastewater, aboriginal relations and social license, Reuters said. 

March 25, 2015

The U.K. lifted a moratorium in December 2012, but no fracking has taken place, Bloomberg said. Scotland and Wales temporarily banned the method while studying environmental safeguards.

March 18, 2015

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.

March 18, 2015

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.

March 17, 2015

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.