The move, which became effective immediately, gives the U.K. officials the authority approve, or deny, shale exploration permits.
Armour holds vast shale oil and gas resources in northern Australia, mainly in the McArthur and South Nicholson basins.
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.
PGNiG compared the German deposit’s potential to one of its biggest western Poland deposits - Lubiatow-Miedzychod-Grotow - which was initially estimated at around 7 million tonnes of oil, Reuters said.
The Kronos-1 well, jointly owned with Anadarko, discovered hydrocarbons at 3,720m at the well in the Fuerte Sur Block, Reuters said. Colombia is Latin America’s fourth-biggest oil producer.
The neoBASIN study evaluated a 6,000-square mile area in Lebanon’s onshore northern half and in the transition zone along Mediterranean coast. Only seven wells have ever been drilled in Lebanon.
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.
OPEC’s monthly report said it expected no extra demand for its crude oil this year despite faster global consumption, because of higher-than-expected production from the U.S. and other non-members, Reuters said.
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.
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.
EIA figures show production grew to about 584 Bcf in 2014 from about 475 Bcf in 2013.
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.
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.
Shale gas production reached 43,300 barrels of oil equivalent per day primarily from the Loma Campana field, where YPF has a 50% stake with Chevron Corp.
Saudi Aramco will put 40MMcf/d of CO2 into the Uthmaniyah area south of the Ghawar Field to boost oil recovery rates, its website said in Arabic, Bloomberg reported.
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.