Asset Management
Industry fundamentals continue to strengthen as rising utilization and scarce replacement capacity support higher rig valuations.
The GRMS system of standardization and classification for geothermal resources, led by a coalition of stakeholders in collaboration with Project InnerSpace and the Society of Petroleum Engineers, will be published in November.
Argentina’s President Javier Milei met with TotalEnergies CEO Patrick Pouyanné and Eni CEO Claudio Descalzi in Paris to discuss Argentina’s energy sector, including projects linked to the Vaca Muerta shale formation and the development of the Argentina LNG export project.
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The merger will effectively end the 86-year run of UK independent oil producer Premier Oil and give rise to one of the largest companies operating in the North Sea region. -
The acquisition of Weir’s lines of pumps, consumable parts, wellhead, and pressure-control products expands Caterpillar’s well-service capabilities.
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The latest updates on the North American shale sector’s efforts to consolidate and restructure.
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Equinor plans to cut its global exploration staff by 30% in the next 3 years and plans to drill 30–40 wells globally this year. Ongoing labor strikes have led to the operator shutting in four of its platforms.
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The sale of Chevron’s interest in the IDD project is part of its cost-cutting measures.
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ExxonMobil is evaluating additional development opportunities in the Stabroek Block with plans for five drillships operating offshore Guyana by the end of 2020.
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Bringing the Heat: Aramco Field Tests High-Temperature Chemistry To Slash Tight-Gas Completion CostsSaudi Aramco and university researchers are experimenting with a thermochemical fracturing fluid that aims to eliminate more than half of the pumping horsepower typically required to complete horizontal wells.
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Though shelved by low oil prices, the plan to execute the largest enhanced oil recovery program of its kind offers insights into what it may take for the shale sector to escape pilot mode and scale up gas huff ’n’ puff operations.
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Extending and transferring the high-temperature capabilities of existing E&P technologies could make geothermal energy development possible—and scalable—anywhere in the world.
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A recent round of funding which raised $18 million positioned ReconAfrica to proceed with drilling and seismic programs for the Kavango basin in Namibia, said CEO Scot Evans.
