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A new land rig design offers shale drillers 2,000-hp drawworks and reduced footprint.
Advanced completion technology prevents excessive production of gas after breakthrough occurs.
An analysis predicts costs to climb as core areas mature.
Lost in the news of record-breaking production and impressive rig counts is the increasing rate of decline in production in the Permian Basin.
Renaissance Oil Corp. got an early foot in the door to develop these potentially giant fields.
Further optimization could lead to better frack designs, stage and well spacing, greater production and ultimately, more profit.
The company is counting on growing “premium inventory”—wells that generate rates of return of at least 30% at $40/bbl oil— to increase resource potential.
Enhanced completions onshore and subsea tiebacks offshore are contributing to production gains, but low commodity prices are taking away profit potential.
Talk of refracturing opportunities and challenges continue as companies seek cost efficiencies during a downturn brought on by a supply-demand imbalance.
Drilled but uncompleted wells in the U.S. provide an opportunity to examine new shale drilling and completion technology.
The four-year exploration plan for the block in the Perdido Fold Basin just south of the U.S.-Mexico maritime border calls for drilling either one or two exploration wells in the block between October and next March, according to the CNH.
U.S. rig count is up six rigs from last week to 990, with oil rigs up 4 to 800, gas rigs up 1 to 189, and miscellaneous rigs up 1.
Canadian well drilling forecasts for 2018 has put the pressure on for governments and regulators to lower regulatory compliance costs, help boost investor confidence and improve market access.
A vacuum-based system eliminates the traditional process of shaking fluid and solids.
Drillers added one oil rig in the week to Oct. 27, bringing the total count up to 737, Baker Hughes, a GE company, said in its closely followed report Oct. 27.
EOR and artificial lift systems are needed to rejuvenate the Cardenas-Mora and Ogarrio fields.
Real-time monitoring of CO2 in EOR applications is made possible with K-waves.
Data from the EIA’s latest drilling production report projected about 16 MMcf/d will be produced in the Marcellus alone in July, up from about 15 MMcf/d in July 2014.
The NRG Energy and JX Nippon Oil & Gas project aims to turn waste into revenue using technology.
NRG has started construction on a $1 billion coal plant retrofit for the project.
Vista will pay Monterrey-based Jaguar a further $10 million to compensate the firm for past investments in the projects, or so-called carry costs, the firm said in a statement.
Canadian producers and global oil majors are increasingly exploring the Duvernay and Montney formations, which they say could rival the most prolific U.S. shale fields.
Chevron will initially develop around 55,000 acres in the Duvernay Shale, which could eventually spur more drilling in other parts of its 330,000-acre portion of the play.
Drilled 10 km (6 miles) from the Amoca discovery in a water depth of 33 m (108 ft), the well’s data indicate a single 280-m (919-ft) thick oil column, said Eni, which estimates the oil gravity at between 28 degree and 30 degree API. The well reached a final depth of 3,430 m (11,253 ft).
Service companies have been battered by the downturn but are keeping their sights on upcoming market needs.