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After oil market dropped 30% from October, the market jumped 5% with OPEC’s decision to cut oil production by 1.2 million barrels per day.
Shale logistics teams prepare for increased pace in 2019.
Timothy Cutt, who most recently served as CEO of Cobalt International Energy, will join QEP Resources to serve as president and CEO of the pure-play Permian Basin company.
Machine learning neural networks can be an alternative to traditional decline curve analysis techniques, analysts say.
A little of this mixed with a little of that creates a stronger future.
Rice Investment Group recently closed on an investment in Cold Bore Technology, a fracking software company the brothers behind Rice Energy see electrifying the oil field.
By the end of 2018, Energent expects over seven million tons of premium frack sand to be mined inside the Permian Basin every quarter.
Proppant tracking, flowback prevention and nanoparticles are among the areas of focus, according to a study released by Deloitte.
Recent trends and new technology indicate operators and service companies are thinking outside of the box and experimenting with different methods and techniques to grow production.
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.
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.
A purchase and sale agreement relating to each block must be submitted to Ecopetrol by Dec. 7 and executed by Dec. 22, Reuters reported.
The contract is BP’s first shale gas PSC in China and covers an area of about 1,500 sq km, BP said. CNPC will be operator.
In a statement, Argentina’s YPF said the accord involved a pilot project in the Bajada de Anelo Block, located in Neuquen province that would run until mid-2018, Reuters reported.
SGS and Baker Hughes, a GE company (NYSE: BHGE), on July 10 announced a Strategic Alliance Agreement (SAA) for the joint deployment and commercialization of BHGE’s real-time software and sensor-based Predictive Corrosion Management (PCM) solution.
With the huge number of wells required for shale gas or coal-bed methane development, companies are implementing lean manufacturing models for these “gas factories.”
Vorpal's Drill2Frac helps optimize fracturing operations through the optimal placement of perforation clusters. Enventure’s expandable ESeal Refrac Liner provides mechanical zonal isolation of existing perforations.
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.
Etienne Roux, vice president of drilling services, said Revolution has drilled 284 vertical-curve lateral wells in a single run in the last year and half. This totals 2.4 million feet.
Problematic areas have included perforation issues, loss of fracture length, and sometimes wellbore connectivity.
Data integration and analysis over a shale play provides clear indications of where to drill and what technologies to utilize.
Drillers added five oil rigs in the week to April 21, bringing the total count up to 688, the most since April 2015, energy services firm Baker Hughes Inc. (NYSE: BHI) said on April 21.
There are signs the bottom is at hand, which is the first step in recovery.
Freshwater, not typical slurry, will run through pumps, significantly reducing need for replacement parts and number of pumps needed on frack job, Energy Recovery CEO Joel Gay said.
Shale producers can save 30% of the drilling cost with walking rigs, which can move from one wellbore to another--10 meters in less than an hour, Reuters said.
The rise in the rig count this week was the biggest increase since April 2014. It was, however, only the third addition over the past 33 weeks, bringing the total rig count up to 659, the highest since late May.
Houston-based independent oil and gas producer EOG Resources has secured 65% of its expected services for 2019.
The sale of the company’s pressure pumping business to ProPetro will bring Pioneer Natural Resources’ divestiture proceeds for the year to roughly $900 million.
Jeffrey S. Balmer will join Callon Petroleum from Encana to serve as senior vice president and COO of the Permian Basin operator following the retirement of Gary A. Newberry.
Occidental Petroleum, which has been investing heavily to boost production in the Permian Basin, said output in the basin surged about 62% to 225,000 boe/d in the third quarter.
Steve Gray, former CEO and founder of RSP Permian, has been appointed to serve on the board of directors at Marcellus Shale-focused Range Resources.
Gulfport Energy said Michael G. Moore stepped down as president and CEO of the Oklahoma City-based oil and gas company and will be replaced on an interim basis by COO Donnie Moore.
Following Paul Horne’s retirement in March, Dan Westcott, currently president and CFO, will become Legacy’s next CEO. Meanwhile, COO Kyle M. Hammond will be adding the president role.
John Applegath joins HHEX, a privately-held company with upstream and midstream operations in the Appalachian Basin, after recently retiring from Range Resources.
Sanchez Energy said Cameron W. George has been appointed as interim CFO following the resignation of Howard J. Thill from the Houston-based oil and gas producer in the Eagle Ford Shale.
EQT said David Schlosser Jr., senior vice president and president of E&P, and others have stepped down from their positions as the company prepares for its upstream/midstream separation.
Colorado voters on Nov. 6 rejected a measure, known as Proposition 112, a move opponents said would have sharply limited new oil and gas wells in the fifth-largest oil producing state in the nation.
Anadarko Petroleum could shift focus to properties in the Delaware Basin if Colorado voters pass the Proposition 112 oil drilling rules, executives said during a third-quarter earnings call.
Colorado voters will decide on Nov. 6 whether to extend the state’s oil and gas setback requirement by approving Proposition 112, which an analyst described as ‘a widow-maker for the D-J Basin.’
The proposal, opposed as anti-fracking by oil and gas producers, would require new projects in Colorado to be at least 2,500 ft (762 m) from buildings, parks and certain wildlife areas.
The British government said it had granted approval for hydraulic fracturing to take place at Cuadrilla's Preston New Road site in northwest England.