February 2016 | Volume 68, Number 2
Guest Editorial: Climate Policy with Low Oil Prices
Without serious climate policy restrictions, the use of cheaper oil will likely grow and extend its life expectancy throughout the global energy system.
Power in Oil Markets Shifts Back to Middle East
Plunging oil prices led to a drastic drop in drilling rigs working in most places in the world, with a notable exception. Baker Hughes’ widely watched weekly report on drilling rigs shows activity has remained steady in Saudi Arabia and the Middle East.
Petroleum Engineering Graduation Rate Exceeds Demand
Petroleum engineers have sophisticated, precise equations to help predict and control what flows out of wells. But when it comes to the number of trained engineers in the world, guesswork is required.
Living-Dead Equipment Adds to Oversupply
Those who track drilling and fracturing equipment are apt to mention zombies. That is the living-dead machinery still counted as available to work, but more likely now to be used for spare parts or scrapped.
Service Focus Changes the Cost per Barrel
During a protracted period of depressed prices in E&P, the customer focus for service companies and suppliers shifts to finding ways to reduce the cost of producing a barrel of oil.
Financial Pressures To Drive Industry To Consolidate
Pressure is growing this year for exploration and production (E&P) companies to “face the reality of a prolonged period of low prices,” said Alan Cunningham, technical director for Gaffney, Cline & Associates.
So Many Jobs Have Been Cut It Is Hard To Count Them All
The impact on workers from the global downturn is so large it is difficult to track. At the high end of the job loss estimates is John Graves, owner of Graves & Co., who estimated the number of jobs lost in the oil and gas industry at more than 250,000 at year end, and rising.
Lingering Global Oil Bust Will Lead to Lasting Changes
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.
Downturn Represents Stress Test for Unconventional Hydraulic Fracture Modeling
Developers of the latest generation of unconventional hydraulic fracturing models are hoping that current weak oil and gas prices will generate newfound interest in their software technology.
Understanding Uncertainty and Risk in Capital Projects
Speakers at the recent SPE Asia Pacific Unconventional Resources Conference and Exhibition addressed the role of uncertainty and risk in sanctioning megaprojects.
Custom Biological Produced Water Treatment Yields Fast Oil Recovery Boost in Waterflood
This article describes how the use of a biological EOR technique that applied produced water for reservoir flooding in a mature field led to rapid and substantial increases in oil production.
In Memoriam: Dan Adamson’s SPE Legacy a Lasting One
01 February 2016
Dan K. Adamson, who guided SPE for more than 2 decades as its executive director and helped transfor.......Read More
Mexico’s Onshore Auction Considered a Success, Deepwater Up Next
Each of the 25 onshore blocks offered to private companies in Mexico’s December auction were awarded, almost all of which went to Mexican companies.
US, Alaska Governments End Legal Claims for Exxon Valdez Incident
The US Department of Justice and the Alaska Department of Law recently closed federal and legal actions against ExxonMobil Corp. and its corporate predecessors involving the 1989 crude oil spill from the Exxon Valdez oil tanker.
Drilling Fluid Uses Acid and Salt To Improve Well Performance
The inventor of a new water-based drilling fluid believes the chemical process involved with his technology opens up natural fractures as drilling takes place to increase production in shale formations.
President, Well Integrity
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ON THE COVER
2016 SPE President
What is the purpose of a well test? What do we learn? What types of tests can be used and when?
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