Asset Management
Lower operating expenditures and a changing asset mix helped UKCS operators cut average production costs by 9% year over year, despite relatively flat production levels, according to the NSTA.
The deal adds 40,000 B/D of production and epands Cenovus’ SAGD footprint with three Alberta assets.
The Federal Reserve Bank of Dallas’ third-quarter energy survey reflects industry views on the drawdown of the US Strategic Petroleum Reserve, the outlook for Persian Gulf crude exports, and expectations for oil prices.
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Oxy’s 1PointFive subsidiary and ADNOC plan to assess the feasibility of building the first megaton-scale DAC facility outside of the US. -
Aker Solutions, SLB, and Subsea 7 have joined to create a subsea engineering firm to drive innovation and efficiency in subsea production.
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The work scope for the project runs through year-end 2027.
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The order builds on the expanded master equipment agreement between the companies for more than 100 mtpa of LNG.
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The current program comprises six planned wells.
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Gas reserves will prove an important feedstock for Atlantic LNG facilities.
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While many expect oil and natural gas to retain their roles in the energy mix of 2050, the more significant question should not only be on how much oil and gas will be needed but from where the world will find it.
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Output from the field is expected to return to pre-shut down levels this summer.
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Well is estimated to have encountered as much as 35 million BOE.
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Two firms are using hydraulic fracturing to create high-pressure water reservoirs that can be turned on and off to meet electricity demand.
