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Opening the energy sector to foreign investors gave Mexico hope to reverse declining production and improve its economy, but politics and public opinion could alter the course or pace of the effort.
The Eagle Ford has produced 2.5 billion barrels of oil and will generate another 2.1 billion barrels, DrillingInfo Executive Chairman Allen Gilmer told attendees of the recent DUG Eagle Ford conference.
The upcoming meeting of OPEC could have a dramatic impact on already volatile crude oil prices. How things play out for crude in 2018 remain to be seen.
NAFTA renegotiations could impact the success of the countries’ energy sectors as it relates to logistics, exports, costs and more. But the agreement has been a positive for the industry, company executives said.
The industry can take plenty of steps to help attract and retain the younger generation.
Drilled but uncompleted wells in the U.S. provide an opportunity to examine new shale drilling and completion technology.
Technology advances have continued to lead to production and efficiency gains in recent years for Range Resources. The company is now working with a Texas university on a new logging tool to be built by Gearhart.
Refracking has been met with enthusiasm—especially when it works—and skepticism, but in order to move forward, the industry needs a large-scale refracking program and more investment IHS says.
A process called forward-osmosis is applied to clean water used in hydraulic fracturing.
Pemex said it expected the contract in the Olmos Field, located in the northern border state of Coahuila, to yield investment of $617 million, aiming to reach daily production of about 117 million cubic feet of gas by 2021.
Statoil (NYSE: STO) and Accenture (NYSE: ACN) have signed a three-year master service agreement for Accenture to accelerate the delivery of Statoil’s global digitalization initiative.
TGS continues to strengthen its onshore position with new seismic projects in key shale basins of North America, such as the Permian Basin, Scoop/Stack and the Montney.
DOF Subsea said on Nov. 1 it has been awarded two contracts, securing utilization for several vessels in the Subsea IMR Projects segment.
Fugro has been awarded a large survey contract by Mexico’s national oil company, Pemex.
The industry can benefit quickly by approaching Big Data from the place of maximizing value by minimizing complexity.
With big data and predictive analytics, operators can use production surveillance, comparing predictions to new actuals to determine how a particular oil or gas asset is performing. In response, adjustments can be made to improve production and overall operations.
Companies embrace prescriptive analytics to improve production.
Data-driven models can shed light on factors that influence operations.
Technology and an abundance of data are forcing oil and gas companies to make changes and prepare for new ways of operating.
Problematic areas have included perforation issues, loss of fracture length, and sometimes wellbore connectivity.
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.
The oil rig count fell seven to 736 in the week to Oct. 20, the lowest level since June, Baker Hughes, a GE company, said in its closely followed report.
Drillers cut five oil rigs in the week to Oct. 13, bringing the total count down to 743, the lowest since early June, Baker Hughes, a GE company, said in its closely followed report.
The oil rig count fell by two to 748 in the week to Oct. 6, Baker Hughes, a GE company (NYSE: BHGE), said in its closely followed report.
Drillers cut three oil rigs in the week to Sept. 8, bringing the total count down to 756, the least since June, Baker Hughes, a GE company (NYSE: BHGE), said in its closely followed report.
Crescent Point, in return, said Cation's last-minute demand was unreasonable and reckless, adding that the firm "appears to have been created for the sole purpose of creating conflict and havoc."
STEP Energy Services said the acquisition of Tucker gives it an "efficient and strategic entry" into the U.S. fracking market and also complements its existing coiled tubing presence in the Permian and Eagle Ford.
Enerplus stood by its capex forecast of C$535 million to C$585 million in 2018, saying it will spend 75% of that amount to develop its North Dakota assets in the Williston Basin.
Last month Encana said it plans to invest nearly 70% of this budget to boost production in Permian and Montney, as oil investors pressure producers to improve production without significantly increasing capital budgets.
Encana has benefited from focusing on four core North American basins: the Montney and Duvernay shales in Canada, and the Eagle Ford Shale and Permian Basin in the U.S.
David Pursell has been named senior vice president, Planning and Energy Fundamentals, at Apache Corporation (NYSE: APA), effective March 12.
He replaces José Antonio González Anaya, who has been appointed as the country’s minister of finance and public credit. González Anaya acted as the head of the state-owned company since February 2016.
Populist Andres Manuel Lopez Obrador would require Pemex take minimum stakes in all future oil contracts, and may also revoke two dozen contracts already signed with oil companies, Reuters reported.
Lourdes Melgar previously served as deputy energy minister for electricity, will leave the government as it continues to implement the energy reform, Reuters reported.
Previously, Quesada was chief of staff to the minister at the Secretaria de Hacienda y Credito Publico, Mexico's treasury office, and at the Secretaria de Desarrollo Social, the ministry of social development.
The decisions relate to probes into suspected corruption involving Odebrecht’s business with state oil firm Pemex, officials said. The government did not provide details.
Lopez Obrador holds a double-digit lead in most polls for the July 1 election. He has been a critic of the energy reform, variously threatening to dismantle it and to run checks on the oil and gas contracts issued under it.
Mexico’s president on March 22 defended his decision to open the energy sector against attacks from the man currently favoured to succeed him, saying a rollback of the measure could cost the country billions of dollars in lost investment.
API President and CEO Jack Gerard raised serious concerns with the Department of Commerce’s announcement recommending tariffs on steel and aluminum imports to the U.S.
Top Democrats on the Senate and House natural resources committees urged the Interior Department on Feb. 27 to drop a proposed cut to offshore oil and gas royalties, saying such a reduction would shortchange U.S. taxpayers.