Exclusives

Familiar trends will continue to resonate in the new year as Shale 2.0 becomes another year older.

Upstream M&A Activity Surges By 250% In Record Quarter

BP’s $10.5 billion acquisition of a portion of BHP’s U.S. onshore portfolio highlighted M&A activity in the U.S. during the third quarter, a report by Drillinginfo says.

stratas_global_upstream_summary_july

Looking back at July activity, several new oil and gas discoveries were made across the globe and many have significant impact on the worldwide oil and gas outlook.

johnchristmann_apache_dug_executive_permian

At DUG Executive, Apache Corp. CEO John Christmann told top leaders from the oil and gas industry that his company’s focus is on the Permian Basin and for good reason.

canada_oil_jobs

Technology and lower-for-longer price environment have wrought rapid changes—some good, some bad—to Canada’s oil patch.

Geology & Geophysics

 Reservoir characterization project shale results

Students at the Colorado School of Mines discussed promising results from a Wattenberg Field study area at the Reservoir Characterization Project spring meeting in Golden, Colo.

Most recently, James Faroppa was vice president of geosciences for Murphy Oil Corp. (NYSE: MUR), handling assurance, portfolio management, and technical and specialist services.

The laboratory is also the first Schlumberger laboratory outside of the U.S. to offer the company's FIS fluid inclusion stratigraphy analysis, which evaluates abundance, distribution and composition of hydrocarbon and nonhydrocarbon species trapped in inclusions in cuttings or core samples.

The first expedition discovered gas hydrate accumulations in formations that are currently unlikely to be producible.

MicroSeismic, microseismic, Peter Duncan, well, unconventional, monitoring

The saved time could translate into improved efficiency amid the continuing downturn, according to an oilfield services company.

Land & Leasing

BHP reiterated it expected bids for its U.S. shale assets by June and added that transactions could be announced in the first half of the 2019 financial year.

Angus Energy agreed to acquire a 25% interest in Cuadrilla's U.K. license for onshore oil exploration at the Balcombe Field discovery in West Sussex as part of a new joint venture agreement.

unconventional, portfolio, optimization, oil and gas, oil price, EY

Oil and gas companies have survived the worst of the downturn. Now it’s time to begin thinking about growth and developing a platform that can produce higher returns over the long term.

Reuters reported that the comapny said the data room for the tender is open from April 30 to July 31.

As part of the deal, Ineos is taking over Engie's entire U.K. onshore exploration license portfolio that consists of interests in 15 licenses including seven in which Ineos had a previous participation, Reuters said.

Reservoir Evaluation

Apache, John Christmann, Alpine High, oil and gas, wet gas

The E&P has increased the number of drilling locations in the mostly wet gas play as it continues oil tests and optimizing designs.

USGS, resources, Haynesville, Bossier, Permian, A&D, Marcellus, natural gas

Seven years since its last assessment, additional drilling and data show the shale plays outshine the Marcellus and Utica, both of which were last assessed at the beginning of the decade.

shale, gas, oil, Energy Information Administration, Kazakhstan, EIA, Chad, United Arab Emirates, Oman

Chad, Kazakhstan, Oman and the United Arab Emirates are believed to have vast shale resources capable of boosting production and adding revenue. However, economics could stand in the way.

The well, which is 80 percent owned by Total and 20 percent by Denmark's state oil company Nordsofonden, confirmed the presence of gas but the thickness of the layer was smaller than expected.

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.

Wildcats & Stepouts

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.

Well 25/6-5 S hit a 10-m (33-ft) gas column in the Hugin Formation in Middle Jurassic reservoir rocks near the Skirne Field in the central North Sea.

UK Oil & Gas Investments Plc found more than 8 Bbbl of shale oil in Horse Hill Field in Weald Basin. The basin is near London’s second-busiest airport, Bloomberg said.