Monthly Features
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Oil prices are high, but spending has not caught up—yet. Meanwhile, exploration strategies are changing around the world toward a lower-risk model, and the frenzied pace of US M&A has very much cooled off. -
This case study outlines a full-scale testing program focused on the behavior of thermal casing connections subjected to severe bending and low-cycle fatigue loading. -
With millions of wells having been drilled in the US since the beginning of the oil age, the land is pocked with old, unused wellbores. For most, repurposing is a pipe dream. Plugging is the best option. -
Disposal wells remain the lowest-cost solution for produced water, but concerns over seismicity and long-term sustainability are accelerating interest in alternatives. -
This case study from Malaysia’s Petronas outlines a comprehensive review of perforation-charge testing across various tubular and reservoir conditions to help improve production from complex downhole scenarios. -
As managed pressure drilling gains traction, its principles are influencing a wider range of well-construction activities.
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Understanding how much rock is being stimulated and propped is critical for unconventional producers. New imaging methods using electromagnetic energy or acoustic microemitters could represent a milestone in understanding what is left behind after fracturing. -
Cyber threats have expanded beyond data breaches and the theft of intellectual property. Drilling and production assets are at risk of being disrupted or destroyed due to vulnerable control systems.
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As oil companies struggle with the collapse in crude prices and industry upheaval, assessing the future of exploration and production (E&P) in specific countries requires a longer term vision of a market in which prices will have stabilized and rebounded to a level yet undetermined.
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Plunging oil prices led to a drastic drop in drilling rigs working in most places in the world, with a notable exception. Baker Hughes’ widely watched weekly report on drilling rigs shows activity has remained steady in Saudi Arabia and the Middle East.
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Petroleum engineers have sophisticated, precise equations to help predict and control what flows out of wells. But when it comes to the number of trained engineers in the world, guesswork is required.
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Those who track drilling and fracturing equipment are apt to mention zombies. That is the living-dead machinery still counted as available to work, but more likely now to be used for spare parts or scrapped.
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During a protracted period of depressed prices in E&P, the customer focus for service companies and suppliers shifts to finding ways to reduce the cost of producing a barrel of oil.
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Pressure is growing this year for exploration and production (E&P) companies to “face the reality of a prolonged period of low prices,” said Alan Cunningham, technical director for Gaffney, Cline & Associates.
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The impact on workers from the global downturn is so large it is difficult to track. At the high end of the job loss estimates is John Graves, owner of Graves & Co., who estimated the number of jobs lost in the oil and gas industry at more than 250,000 at year end, and rising.
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Predictions of a 2016 recovery in the exploration and production (E&P) sector became increasingly rare after 2015 ended with a thud as oil prices sank below USD 40/bbl.
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