Companies are focusing on enhanced completions among other techniques and technology to boost production in the Marcellus and Utica shale plays, but cluster efficiency remains an area of concern.
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.
Harvard project emphasizes maximizing shale potential, eliminating export restrictions, building out pipelines and other infrastructure, and developing cost-effective emissions standards.
EIA figures show production grew to about 584 Bcf in 2014 from about 475 Bcf in 2013.
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.
The agreement that Harbour Energy Ltd. and Mexico’s ALFA had to buy Toronto-based Pacific Rubiales for CA$2 million fell through. ALFA’s CEO said the offer “correctly valued” Pacific Rubiales.
Independent assessment of Horse Hill well has estimated there could be about 271 million barrels of oil per square mile. The prior estimate in April of 158 million, Bloomberg said.
Auctions attracted the highest prices since 2007 in the first four months of the year even as Canadian heavy oil slid below $30 a barrel, from $87.23 in June, and producers from Cenovus Energy Inc. to Royal Dutch Shell Plc slashed spending and jobs.
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.
Over the next 20 years, US$38 billion will be invested in Argentina’s Vaca Muerta Shale, Neuquen province governor said, Reuters reported. Lindero Atravesado and Bandurria fields will be developed.
The project will use 4-D seismic imaging, horizontal drilling and pump technology. Polymer chemical injection technology’s role in maximizing economic recovery of U.K. hydrocarbon reserves will be demonstrated.
Australia's Titan Energy Ltd. started commercial production on first well in multiwell program in Allen Dome area of Brazoria County, Texas. Titan has planned a five-well program in Allen Dome.
South Africa’s semi-desert Karoo region may hold as much as 390 trillion cubic feet of shale gas, which the government wants to tap to alleviate energy shortages, Bloomberg said.
As companies including OAO Gazprom, OAO Novatek and OAO Rosneft get new Siberian gas fields up and running, they’re also boosting output of ultralight condensate, Bloomberg 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.
ConocoPhillips and PetroChina Co. ended shale gas development talks after two-year study. China holds world’s largest shale gas reserves, but faces difficult geology, infrastructure lack and limited exploration rights, Bloomberg said.
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.
The gas-focused Hawkville Field in Texas accounts for the substantial majority of the charge to be included in results for the fiscal year that ended on June 30, which BHP estimates will be around $2.8 billion on a pre-tax basis.
Top American companies including ExxonMobil Corp. stayed out of greenhouse-gas emissions initiative. The U.N. told six European oil majors to plan phasing out of fossil fuels by 2100, Bloomberg said.