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Well spacing optimization is one of the more important considerations in unconventional field development.

To continue to advance optimization in new-well completions, to cost-effectively restimulate existing wells, and to enhance recovery, will require capacity for laboratory studies and field trial programs and implementation of a range of analytical methodologies.

The artificial-intelligence application BHC3 Reliability provides early warning of production downtime and process risk to improve operational productivity, efficiency, and safety.

As the operator seeks to raise $15 billion from asset sales through 2021, it sees a viable opportunity in its Gippsland Basin upstream portfolio, which could fetch up to $3 billion in a sale. Wood Mackenzie anticipates strong interest, but the age of the field may prove problematic.

Using machine learning (ML), image recognition, and object detection, the use of ML on algorithms to recognize objects and describe their condition were investigated—offering new possibilities for performing inspection and data gathering to evaluate the technical condition of oil and gas assets.

The recent jump in oil price could create additional momentum for margins in the service sector. With shale euphoria wearing off, service company margins are still showing some resiliance. If the price hike persists into 4Q 2019, increased activity could improve pricing further.

Rystad estimates almost 2 million B/D will remain shut in on average during September and October, with full restoration to pre-attack levels not coming until closer to year end.

The US shale sector continues to disrupt global oil markets. Soaring US crude production and the resulting exports to Asia and Europe, are transforming worldwide trade flows and changing how consumer countries price crude.

The project aims to contribute an estimated ultimate recovery of more than 175 MMboe from one of the company’s signature deepwater projects in the US Gulf of Mexico.