Asset Management
Operators struggle to understand proppant placement beyond the fracture, and that’s the information that could be the key to boosting EUR.
High-risk, high-reward projects focused on stimulation, enhanced recovery, and field-scale deployment are eligible under the DOE’s new UNLOCK initiative.
Industry forecasts point to increasing upstream expenditure and production, even as geopolitical volatility and smaller discoveries challenge project economics.
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Barron Petroleum drilled a new discovery well in Val Verde County, Texas, finding an estimated 417 Bcf (74.2 million bbl) in oil and gas reserves. -
CNOOC Limited’s Nanbao 35-2 oil field S1 area offshore China in the central Bohai bay began production. The oil field, fully owned by CNOOC Limited, has an average water depth of 17 m.
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Pharos Energy, an independent E&P company, received approval from the Prime Minister of Vietnam for its Te Giac Trang (TGT) full-field development plan (FFDP), enabling the company to begin drilling six new producer wells in Q4 2021.
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Petrobras completed a drillstem test (DST) in the Júpiter Discovery Assessment Plan, located in the Santos Basin pre-salt carbonate reservoir.
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Equinor will drill three new wells at a cost of $219.3 million at the Martin Linge field in the Norwegian North Sea to ensure safe production after an analysis found four previous wells drilled there did not have necessary barriers.
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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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Santos is a step closer to the go-ahead for its Narrabri coal-seam gas project after gaining approval from a government planning commission. It is planning workover activities on existing wells and an appraisal drilling program.
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Shell's CEO said the Dutch supermajor has "too many layers" and that the move to downsize will help ensure its future. As a result, at least 9,000 people are expected to leave the oil and gas producer between now and 2022.
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Wood Mackenzie is bullish on the future of global LNG demand. Chief Analyst Simon Flowers outlines the risks ranging from spot prices, project economics, and environmental concerns.
