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These Are the Forks in the Road to Drilling Automation
Along its journey to full-automation, the US drilling sector is facing a series of important crossroads that will determine what the so-called “rig of the future” really will be.
Frac Sand Demand Expected To Exceed Peak 2014 Levels
Increasing lateral lengths, stage counts, and proppant intensity levels are contributing to a bullish outlook on frac sand demand.
Data and Digital Hold E&P’s Future, Says New Century CEO
Leveraging data to drive the best technology solutions and inform business strategy is the route to future industry success, says a US independent’s top executive.
Permian Production Boom to Continue, Says Laredo CEO
Industry efficiency gains in the Permian Basin are “very pivotal and we’re not done. We’re still making improvements,” says Laredo Petroleum’s Randy Foutch.
Wild Well Control Aims To Tame Leaky Wells
Well cement is cheap but there are questions over its reliability when it comes to stopping methane migration. A Houston-based blowout specialist is pushing for an alternative.
Deepwater Renaissance? Hopes Run High for Mexico Prospects
OTC panelists were excited at the potential of deepwater exploration offshore Mexico and believe that opportunities there could eventually drive a big new wave of activity.
Want To Make Deepwater More Profitable? Shell Says Listen to the Facility Staff
One of the oldest deepwater platforms in the Gulf of Mexico has become a profit-leader for the oil major during this downturn and is now a model for the company’s other floating assets.
OTC: Low-Price Environment Affects Safety
The new economic environment known as “lower for longer” has had no small effect on offshore safety, said a panel of experts at the 2017 Offshore Technology Conference.
Industry Not Yet Using Digital for Disruptive Change
Panelists at the Offshore Technology Conference largely doubted that the oil and gas industry is making full use of digital technology for fundamental transformation.
OTC: Competitive Strategies Bring Projects to FID
Companies are rethinking offshore developments and in a very tough market are finding innovative ways of bringing some projects forward.
OTC: Private Equity Firms Have Billions But Remain Cautious
While the current oil prices may not generate the cash flow needed to pay for offshore projects using traditional financial options, private equity may be the best alternative for operators.
For Pemex, Partnerships and Profitability Are The New Focus
The new CEO of Pemex outlined his plan to reverse the state-owned company’s struggling financial and production situation.
Zinke Pushes for Review of Interior and Regulations at OTC
Secretary of the Interior Ryan Zinke praised America’s resource potential and regulatory framework at OTC. He also laid out his plan to review the department and signed two secretarial orders.
Disappearing Downhole Tools Eliminate Need for Intervention
Development of a new polymer composite that degrades via hydrolysis in hot water or brine holds potential for use in structural applications for intervention-less downhole tools.
OTC: To Compete With Shale, Deepwater Must Think Like Shale
The quick turnaround times and low-risk nature of shale developments need to be replicated in the deepwater business, according to the CEO of Murphy Oil.
OTC: Brazil Energy Reforms Yield Big Lease Sales and Questions
Brazil is embarking on a 3-year round of bid sales offering international oil companies multibillion barrel prospects with better contract terms.
OTC: Moho Nord Startup Marks Milestone for Congo
Innovations characterize the deepwater Moho Nord field development, recently brought on stream by Total in the Republic of Congo, and the project creates significant value for the country.
Analytical Model Developed To Study Fracture Initiation Near Wellbore
An advisor at Schlumberger discusses the company’s work in examining the effect of perforations on hydraulic fracture initiation.
Argentine President Macri Visits With US Oil and Gas Industry, Asks For More Investment
Argentina President Mauricio Macri visited with oil and gas companies in Houston to emphasize that his country’s reforms are making it increasingly attractive for upstream investing.
Industry Perspectives Vary on Implementing Effective Social Performance
Social responsibility has become a common term but what defines “social performance?” In a globalized economy, with multinational corporate and state actors having a more immediate effect on individual lives than ever before, social performance initiatives should not be viewed as an expendable cost.
Multidiscipline Method To Optimize Shale Laterals Can Boost Production vs. Geometric Completions
Optimizing laterals by integrating data from many sources to address reservoir variability and structural challenges can increase shale well productivity.
Panel Examines Methane Regulations and Opportunities
Three experts from different sectors discussed the challenge of methane and regulation at the first panel session of the 2017 SPE Health, Safety, Security, Environment, and Social Responsibility Conference–North America in New Orleans.
How To Plan For Meaningful New Technology Pilot Tests
When technology startups and oil and gas companies finally agree to run a pilot test, there are a few things both sides of the table should know before they move forward.
OTC 2017: Where to Find the Best Networking Opportunities and Emerging Technologies
Before you head to OTC 2017, make plans for the event’s best opportunities for professional networking and to learn about the array of new technologies pushing their way into the business.
Val Verde Basin Woodford Project Holds Strong Potential With a Barnett Bonus
Kerogen Exploration is excited about the Vista Grande project, a Woodford Shale play in a west-Texas Permian sub-basin that offers further targets lying above in the Barnett Shale.
Drilling Costs Flirt with Break Even
Aggressive drilling growth in the Permian and other shale plays belies the cost of those wells, which in many cases are in the red.
Squeeze Treatments Combat Scale Deposition
At the 2017 SPE Oilfield Chemistry Conference, an assistant professor from Heriot-Watt University discusses the optimization of squeeze treatments delivered by diving support vessels.
New Study: US Shale Rebound Strengthened By Dealmaking
A Houston-based energy consultancy concludes that a series of downturn deals have contributed more to the resiliency of the US shale sector than a rise in oil prices.
Rising Jobs for Drilling and Completions Offer a Bit of Hope in a Brutal Market
Optimistic talk about oil prices offers encouragement to those who have been looking hard for jobs in the E&P industry.
Shell CEO Ben van Beurden To Speak at SPE Offshore Europe 2017
Royal Dutch Shell CEO Ben van Beurden is to speak at the opening plenary session at SPE Offshore Europe 2017, which is being held in Aberdeen from 5–8 September.
Schlumberger and Weatherford to Form Joint Venture
Schlumberger and Weatherford are forming a joint venture to tackle the North American unconventionals oilfield services market.
New Underwater Safety Center Planned for Asia
An underwater safety center will be constructed in Asia to simulate diving activities and subsea emergency procedures.
How Startups and Operators Can Work Together to Accelerate Technology Adoption
You would never hear the manager of an oil company say they are a late adopter of technology but, in reality many are. By better understanding both sides of table, technology developers and oil and gas operators may find they can accelerate adoption cycles beyond the status quo.
CERAWeek: IEA Chief to Upstream Industry: ‘Invest, Invest, and Invest’
IEA Executive Director Fatih Birol told oil E&P leaders at the IHS CERAWeek conference to invest now to prevent an oil supply shortage in several years.
Momentum Gathers for Austin Chalk Revival
The Austin Chalk play could go through a revival if the industry can view the formation through “a fresh set of eyes,” says EnerVest’s Tony Maranto.
CERAWeek: Global Trade Remains Vital to Industrial Operations
Industry CEOs examine the role of global trade with the UK Minister for Energy and Industry.
New Ways to Boost Heavy Oil Flow
Getting a good well for a field test can make or break a new idea. A government backed research group in Saskatchewan is offering up to CAD 100,000 break on royalty payments to test ways to extend the life of conventional, heavy-oil fields.
Mexico Takes Another Step Toward Tapping Needed Resources
To meet its projected oil demand in 2040, Mexico must see about USD 30 billion/year in upstream investment. BHP Billiton’s contract signing with Pemex represents a step in the needed direction.
CERAWeek: Pumping the Brakes on Electric Vehicle Uptake
If a boom in electric vehicle sales takes place, a group of auto experts suggest it would represent a larger immediate threat to electricity supply than it would to oil demand.
CERAWeek: Russian Oil Business Changing as it Turns to the East
Russia has looked to the east to find more oil and gas, growing markets and investor support, allowing it to shrug off the global slump and trade sanctions.
Moving On: Shell and Marathon Oil Announce Major Divestment of Canadian Oil Sands
The deal will transfer nearly 2 billion bbl of reserves to Canadian Natural Resources while bolstering Shell's downstream and carbon-capture role in support of oil sand development.
CERAWeek: Saudi Minister and Pemex Head Show Optimism on Key Industry Issues
At IHS CERAWeek, Saudi Arabian Energy Minster Khalid A. Al-Falih and Pemex Director General José Antonio González Anaya expressed cautious optimism for the short-term outlook.
CERAWeek: New ExxonMobil CEO Addresses Carbon Reduction, Expresses Optimism On US Gulf Coast Downstream
The new head of ExxonMobil used his first major public appearance to emphasize the major oil company's committment to environmental concerns through the development of emerging technologies.
Natural Gas, NGLs Could Help US Refiners Beat “Octane Shortage”
Opportunities to convert gas or natural gas liquids into high-octane gasoline blending stocks could contribute to growth in US natural gas demand.
CERAWeek: Statoil, Petrobras CEOs Discuss Leadership Challenges in Difficult Environments
The CEOs of Petrobras and Statoil discuss the challenges their companies face in enacting economically and environmentally sound operational policies.
2017 SPE/IADC Drilling Conference Technical Session Tackles Managed Pressure
The session will cover an area of growing interest, given increasing concern about wellbore integrity and well control.
Shell: New Deepwater Project Can Break Even Below USD 40 Oil Price
The international major's low-cost development plan calls for a subsea tieback that will transport oil and gas through a single flowline to an existing floating production facility.
New is Better at the 2017 Offshore Technology Conference
In the midst of enormous change, OTC retains its status as a “must attend” technical conference for petroleum engineers and scientists working around the globe.
Making Big Data Part of the Routine
The potential of big data depends on the ability of companies to change the habits of its users.
SPE Offshore Europe: BP CEO Bob Dudley to Lead Opening Plenary
CEO Bob Dudley, who calls BP’s UK North Sea business one of its “crown jewels”, will address hundreds of delegates at the opening plenary session at Europe’s foremost exploration and production technical conference and exhibition.
An Unconventional Approach to Oilfield Acquisitions
Figuring out the right price for an active oil and gas field is tricky business in the shale sector but one producer explains how it uses data analytics to get a clearer picture.
Innovation Suffers From Bloated Expectations But With USD 50 Oil It is an Essential Skill
Innovation is required, but it is not a super-power allowing engineers to effortlessly vaporize long-standing challenges.
Canadian Exploration Growing Again As Engineering Challenges Loom Large
SPE conferences in Calgary examine the challenges of finding and producing heavy oil and unconventional hydrocarbons at a time when Canadian producers are feeling exceptional price pressures.
Science Proves Key in Noncore Eagle Ford Success
Battlecat Oil & Gas ratcheted up on data, analysis, and technology to successfully develop unproven shale acreage.
Offshore Drillers Attack Costs and Downtime With Data-Driven Deals
New long-term contracts between offshore drillers and equipment makers reduce downtime and risks associated with key components, from blowout preventers to risers.
Thunder Horse Expansion Builds on BP’s Gulf of Mexico Strategy
Completed 11 months ahead of schedule, BP’s Thunder Horse South Expansion project furthers the company’s deep water agenda.
Ways To Break More Rock When Hydraulic Fracturing
Around the top of the list of ways to make hydraulic fracturing more efficient is by expanding the area that is effectively fractured. There is growing evidence of the need for methods to do this that are cost-effective, reliable, and repeatable in wells that vary widely.
Tech Session Tackles Rock Mechanics, Re-fracs, and Regulations
The North American shale sector has always relied on brute force to get the job done in the subsurface. However, these days hydraulic fracturing involves more science, engineering, and finesse than ever.
Research Aims To Cut Time and Cost of Characterizing Tight Gas Sandstone Reservoirs
A recently launched joint industry project (JIP) is working to improve petrophysical analysis methods to reduce the time and expense of characterizing tight sandstone gas reservoirs for exploration, appraisal, and production.
Mexico’s Deepwater Auction a Success; Now What?
Mexico’s historic public tender for its deepwater real estate resulted in the awarding of eight out of 10 blocks on offer.
New Diagnostics Aid Completion Designs
A new diagnostic technology that exclusively uses surface pressure data to map hydraulic fracturing in unconventional reservoirs has helped an operator to improve well completion designs in its Oklahoma field activities.
New Numbers Highlight Permian Bonanza
This week the US Geological Survey (USGS) reported that the Wolfcamp shale holds 20 billion bbl of technically recoverable oil. This builds on other active formations in the Permian Basin, where nearly half of US active rigs are operating.
Can You Call It a Downturn if the Price is not Going Down?
The US Energy Information Administration argues "downturn" may no longer be the right term.
Chemical Maker: Adoption of Completions Nanotechnology Doubles in Downturn
Use of a complex-nanofluids (CNF) additive to hydraulic fracturing fluids has doubled even as activity has fallen because of potential production increases.
Ranking the Offshore Oil-Producing Countries
The five top offshore producing nations produce 43% of all the oil offshore.
UPDATE - Oklahoma Earthquake: 5.0-M Quake Damages Buildings in Oil Hub of Cushing
Earthquake in Cushing, OK -- home to the largest oil storage facility in the world -- leads to further regulatory action on disposal wells in the area.
Iran Opens Field Investment to Global Bidders
Iran’s national oil company is offering investment opportunities in 50 fields to global bidders, its first effort to do so since the 2015 pact with world powers that lifted nuclear-related sanctions against the country.
US Oil Goes From Critical to Stable Condition
The outlook for the US onshore oil business is looking better, which is not to say it is looking up. Recent surveys by the Federal Reserve banks of Kansas City and Dallas indicated the industry had stabilized after a long period in critical condition.
Developing Countries’ Energy Demand to Grow
The world’s developing countries will lead economic growth and consume an increasing share of energy production globally over the next quarter-century,according to Rob Gardner, manager of economics in corporate strategic planning at ExxonMobil.
Oil Market Surplus Could Grow in 2017
Surplus production in the oil markets is likely to grow in 2017, and long-term oil prices will track with costs and not revert to the margin-inflated patterns of the shale boom.
Adding Digital Brainpower To Evaluate Tight Gas Reservoirs
Understanding petrophysical properties well enough to make drilling decisions, particularly for tight gas can be a challenge. A new computer system aims to help analyze the extensive data involved.
A New Reality for Training and Safety Technology
Virtual reality technology has become a powerful training tool for companies looking to recreate real-life, on-the-job oil industry scenarios.