Business/economics
Westwood Energy analysts suggest operators have an opportunity to secure rigs at lower rates for their 2027 drilling programs.
Proposed and final notices of sale represent nearly 80 million acres in the Gulf of Mexico and approximately 1 million acres in Alaska’s Cook Inlet.
The US and UK sanctioned Russian independent Lukoil International and state-owned Rosneft in a bid to pressure Russia over Ukraine.
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At the Unconventional Resources Technology Conference in Denver, discussion revolved around solving problems below ground and above ground. -
With the Bakken production rate surpassing an average of 1 million BOPD, the issue of crude transport by rail and its regulation has moved to the forefront.
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Booming US oil production is beginning to seep into international markets despite the country’s ban on oil exports. One sign of change was the departure in late July of a tanker from Texas City, Texas, with 400,000 bbl of liquid hydrocarbons bound for Asia, Reuters reported.
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Running a shale exploration and production operation requires a sharp focus on costs, but not all are measured the same.
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More than 21 billion bbl of light, sweet crude oil will be extracted over the lifetime of the Bakken and Three Forks shale plays, according to the latest projections from energy consultancy group Wood Mackenzie.
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Deepwater capital expenditure is expected to more than double compared to the previous 5 year period. Douglas-Westwood also expects a continued trend toward exploration in ultradeepwaters in depths greater than 2000 m.
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A condensed version of what is on the minds of SPE’s technical directors is: The industry needs multidisciplinary, data-driven ways to adapt to what is ahead, focus on what is critical for decision making, and take a long view as another generation takes over.
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