Asset Management
LibertyStream has signed a feedstock agreement with Goodnight Midstream to support its first commercial lithium carbonate facility in North Dakota's Bakken, advancing plans to extract battery-grade lithium from produced water.
The loan to Arena Energy will generate an estimated 38,600 B/D in new production from 22 platforms in the Gulf.
This article from Murphy Oil outlines a modernization effort that resulted in increased scenario simulation capacity by five to 10 times.
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Sandvik and SNC-Lavalin made similar announcements in late March and would take further action if necessary. -
The potential leasing of space in the SPR comes after the DOE’s plans to buy crude oil were suspended. US oil inventory stockpiles stand at a 10-month high.
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Most history-matching studies have fixed resources—that is, the team of engineers and geoscientists is predetermined. Moreover, the deadlines are always very strict. This constrained scenario often leads to an unfortunate result: The quality of the study suffers.
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The industry increasingly relies on forecasts from reservoir models for reservoir management and decision making. However, because forecasts from reservoir models carry large uncertainties, calibrating them as soon as data come in is crucial.
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The results of the authors’ research showed promising benefits from the use of a systematic procedure of model diagnostics, model improvement, and model-error quantification during data assimilations.
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The company's North American business will accelerate a restructuring that includes job cuts and furloughs over the next couple of months.
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The market in 2020 will be oversupplied by 3–5 million B/D and global inventory will surpass 400 million bbls over the next few months, according to ADI Analytics.
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McDermott was selected previously for a study of the FPU. Completion of the Trion project is expected in Q3.
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US sanctions appear to have prompted a change in ownership. It is unclear how the new arrangement will impact Venezuela’s diminishing ability to export crude oil.
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The five-year contract is worth an estimated $400 and covers more than 200 offshore assets.
