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The company grew its Permian Resources production by 37% year-on-year to 177,000 boe. Enhancing subsurface characterization remains key.
Revenue for the independent E&P—which has assets in the Eagle Ford, Austin Chalk, Delaware, Woodford and Rockies—jumped about 41% to $3.68 billion.
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Operators gain production control and increase flow assurance through sand monitoring.
New self-service analytics tools allow SMEs to analyze, monitor and predict process and asset performance.
Maintenance programs can help save costs and enhance long-term production.
Enhanced completions onshore and subsea tiebacks offshore are contributing to production gains, but low commodity prices are taking away profit potential.
With low prices pushing some companies into the red, oil majors have had to sharply cut costs and rein in growth plans.
Understanding drainage volume and improved permeability of stimulated rock is essential to forecasting production, according to MicroSeismic Inc.
Ophir Plc has entered into a farm-out agreement with Kosmos Energy (NYSE: KOS) covering the EG-24 exploration license in Equatorial Guinea, the company said on May 14.
Austrian oil company OMV’s adjusted operating profit came in slightly above expectations in the first-quarter, helped by a new stake in a Russian gas field and higher output in Libya lifting sales.
China’s shale gas production will likely reach 17 billion cubic meters (Bcm) in 2020, nearly double the 2017 level, as local oil companies make big progress with drilling technology and cost cutting.
Drilling efficiencies are maximized with integrated MPD systems.
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Fourteen companies have expressed interest in oil and natural gas exploration and development contracts to be auctioned by Iraq on April 25, the oil ministry in Baghdad said on April 14.
Better chemical formulations and lower cost, advances in laboratory analysis and higher oil prices are making chemical EOR more economically viable.
The upstream industry driving is forward with new technology initiatives aimed at sustaining production levels.
Taking integration to the next level, model-based technologies aid in heavy oil production and maximize the potential of the digital oil field.
Saudi Aramco is already using nanotechnology to measure water-oil interfaces in waterfloods and with EOR surfactants.
The natural gas treatment plant project worth nearly US$600 million is of "great significance" to the development of oil and gas for Petrobras pre-salt, according to the company press release.
Development Briefs For March 22
The comments from Inpex come a month after the head of junior partner Total suggested possible delays ahead on Ichthys and hinted at further cost blowouts.
The MoU signed in London between the two companies was during the official visit of Saudi Crown Prince Mohammed bin Salman to Britain, and would include gas upstream and liquefaction projects.
Development Briefs For March 8