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The SPE Strategic Plan 2018–2023 calls for claiming pride in our industry’s higher purpose, that of supplying energy to meet the needs of humanity.

With the shale industry still awash in red ink, and oil prices falling, it may take more consolidation to try to bring some financial stability to the sector.

The number of deserted oil and gas wells in Kansas blossomed during the past 5 years to 22,000. A Kansas Corporation Commission annual report revealed a fund created in 1996 to finance plugging of wells to be inadequate if the objective was to keep pace with demand for plugging.

Energy consultancy Wood Mackenzie estimates the find holds some 2 Tcf of gas, making it this year’s seventh-largest discovery worldwide.

Baker Hughes is still a GE company, but it has partnered with a second company for artificial intelligence expertise, C3.ai. The deal is expected to speed the integration of AI into oilfield operations by the company which also markets GE’s device analytics platform, Predix.

Quantum computers exploit the peculiar behavior of objects at the atomic scale and use the qubit as the basic unit of quantum computing. A quantum computer with only 100 qubits would, theoretically, be more powerful than all the supercomputers on the planet combined.

Norwegian authorities approved development plans for Duva and Gjøa P1, both of which are expected to produce first oil in late 2020. The fields will each tie back to the Gjøa platform on the Norwegian Continental Shelf.

The deal consists of stakes in nine shallow-water producing fields covering 108,000 gross acres in 10–50 m of water.

Operator Talos Energy now believes Zama’s gross recoverable resource lies in the upper half of its pre-appraisal estimate of 400–800 million BOE. The consortium is working toward a 2020 final investment decision on the project.

Merging tried-and-true physics-based models with data science is bolstering the Houston independent’s reservoir-engineering work on its deepwater and shale assets.