Asset Management
This article from Murphy Oil outlines a modernization effort that resulted in increased scenario simulation capacity by five to 10 times.
The transaction is expected to strengthen the company's position in Alberta’s oil sands and unlock annual synergies of $54 million.
The transition away from materials that contain per- and polyfluoroalkyl substances (PFAS), co-called forever chemicals, creates an opportunity to preserve historical information. Information that appears to have little operational value today may later become important when organizations need to evaluate past PFAS use. Once that information is lost, recreating it may…
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Russian oil production has remained on a growth path despite the plunge in oil prices because producers have built their business on producing oil for less than USD 30/bbl. -
When it comes to hydraulic fracturing, steadiness may not be a virtue. That was the conclusion of a test to see if rapid pump rate variations would lead to greater production than conventionally fractured stages when the pressure was held steady.
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Why do we as an industry do so poorly in executing large capital projects? Oil and gas is not alone. The many reasons for failure of megaprojects fall into five broad categories.
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Panelists at CERAWeek discussed the numerous steps their companies are taking to achieve large-scale permanent, in addition to cyclical, capex reductions on major projects.
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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.
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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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Decision making in uncertain environments is key to the successful delivery of oil and gas projects. By definition, however, uncertainty is ambiguous and unpredictable.
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The industry is in one of its periodic downturns. Jobs are uncertain or scarce. Profitability is challenged. Bankruptcy looms. Projects are being canceled. Deals are dropped or delayed. It seems there is bad news everywhere. So how do we survive in this environment?
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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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Speakers at the recent SPE Asia Pacific Unconventional Resources Conference and Exhibition addressed the role of uncertainty and risk in sanctioning megaprojects.
