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Looking for a Lot More Deepwater Production? Fix Your Old Wells
BP has seen enormous payoff from a program to intervene in underperforming subsea wells in the Gulf of Mexico.
New Modeling Code Sees Deep Inside Fractures, May Change Thinking On Well Spacing
Operators are working with a young startup company to overhaul how the unconventional sector has traditionally interpreted one the most common tests used to influence well completion designs.
Now There’s Enough Pressure Pumping and Sand to Go Around
Hydraulic fracturing is now a little bit easier for US shale operators thanks to readily available horsepower and in-basin sand.
Can a Cube Save Some Hits? And Other Innovation Questions
This week’s JPT Quiz looks at who gets the naming rights, what is happening in the UK, and things that confuse learning machines.
Innovative Pressure Map Offers Insights on Frac Hits
Well-interference issues can be hard to diagnose, but this startup may be figuring that out. The data-driven process it developed can also help operators come up with more effective ways to use diverters.
Odds on the World vs. Permian Fight Are Narrowing
While US onshore still holds an edge, international oil companies are finding attractive options for diversifying their portfolios, mixing onshore with offshore conventional fields, where finding and development costs are down , and the time it takes to bring them on line.
Rapid Evaluation of Development Ideas Has Engineers Thinking: What If?
A software program has evolved from predicting future well output to showing engineers the many ways their ideas could affect asset performance.
Eni Gets Development Approval for Area 1 Offshore Mexico
The Italian firm is slated to become the first international operator to produce oil from Mexican waters since energy reform took hold. The launch of early production from Area 1 is expected in first-half 2019.
AI-Firm Ambyint’s New Bakken Deal with Equinor Moves the Industry Another Step Closer to the Edge
Hundreds of rod-lift wells in North Dakota are about to get a big upgrade.
JPT Quiz—Are You Keeping Up?
Oil Companies spend big, build big, hire big and fire big. Test how much you know.
BP To Buy US Shale Assets From BHP for $10.5 Billion
BP ends a year of speculation as to who will buy BHP Billiton’s much-coveted US unconventional business, transforming its Lower 48 portfolio in the process.
Pioneer's Analytics Project Reveals the Good and Bad of Machine Learning
A recent research effort has shown that the digital journey is full of stumbling blocks. Just like humans, advanced computing technology will get some things right and some things wrong.
Big Leaps Still to Come in Unconventional Technology
Today’s advancements in unconventional technology are worth marveling over, but there is still plenty of room for growth.
JPT Quiz—Do You Really Know the Permian?
A weekly quiz from JPT editors drawing from facts in JPT stories and other energy related news of the week.
Find Out What Google and Oil and Gas Companies are Searching for in Big Data at 2018 ATCE
The company behind the world’s most popular search engine is trying to click with the upstream business at the most distinguished technical event of the year.
In the Shale Business, It’s Time for Another Revolution
The report card for unconventional oil and gas producers from a leading industry analyst is A+ for growth and F- for paying back investors.
The Price of Permian Gas Pipeline Limits
Pipeline bottlenecks have created a wide gap in the price of gas at a key pipeline hub in the Permian compared to the US benchmark level.
Equinor Invests in Two Gas-Focused Tech Startups
Venture groups spend their time evaluating hundreds of companies each year to only make a handful of investments. These two cover interesting ends of the upstream spectrum: aerial drones and downhole artificial lift.
17 July: JPT Quiz—Do You Really Know E&P?
A weekly quiz from JPT editors drawing from facts in JPT stories and other energy related news of the week.
Norwegian Exploration and Development Pick Up, but More is Needed
Norway hopes for a continued rise in offshore exploration and development activity to ensure steady oil and gas production through the next decade.
Growth in Offshore Activity Could Lead to Recruitment Boom
The past years’ stable workforce levels in the upstream petroleum industry—balanced by increases in shale workers and decreases in offshore workers—are set to shift with a boost in offshore projects, one research firm says.
Oil Prices Set To Rise This Year, Then Fall Back
Supply growth into next year is projected to outpace global demand, bringing markets once again into a state of relative imbalance.
UK’s Latest Licensing Round Aims for Offshore Frontiers
Just 2 months after issuing more than a hundred licenses, the Oil and Gas Authority begins the process again for a whole new set of blocks.
Chevron Prepares To Sell Central North Sea Assets
The company announced it would “initiate the process” of marketing its UK Central North Sea fields as part of a portfolio review.
Do Not Forget the Methane Leaks
Methane monitoring using improved methods is detecting more gas in the atmosphere, increasing the need for better ways to eliminate releases.
What’s Driving Oil Companies to Buy Electric Car Charging Firms?
Some of the industry's largest players are now fueling the electrification revolution, and it is only the beginning.
BP Launches Caspian’s First Subsea Development
The $28-billion Shah Deniz Phase 2 project off Azerbaijan will supply gas to Europe through the Southern Gas Corridor pipeline system.
Aramco, NOV To Form Saudi Onshore Drilling Joint Venture
Saudi Aramco’s aim to localize oilfield services in the kingdom is taking another step forward with an onshore drilling partnership with National Oilwell Varco.
GE To Spin Off Baker Hughes
GE announced today that it is spinning off Baker Hughes in its strategic plan for growth and shareholder value creation. It plans to focus on aviation, power, and renewable energy.
Equinor Releases Subsurface and Production Data From NCS Field
The Norwegian operator’s disclosure marks the first time all subsurface and production data from a field on the NCS will be available for public viewing.
Distinguished Lecturer Topics Announced for 2018-19
Each year, SPE selects professionals, nominated by their peers, to share their knowledge and expertise with SPE members through visits to local sections.
Is the Permian Barreling Toward a Breaking Point?
Permian oil output is growing fast, pipeline capacity is full with little relief in sight, truck drivers are in short supply, and the value of basin-produced crude is sinking. Is a drop off in activity—including drilling and production—becoming inevitable?
ExxonMobil’s Eighth Discovery off Guyana Adds Another Development Possibility
Already poised to produce more than 500,000 B/D offshore Guyana, ExxonMobil added yet another discovery to its bounty in the emerging regional oil powerhouse, meaning a fourth development phase could be in order.
Equinor’s Offshore Bonanza Continues
Equinor has grabbed seven new licenses in the Barents and Norwegian Seas, the latest in a flurry of offshore activity in which the firm has added acreage off the UK and Brazil, gained approval for a big Arctic project, and awarded billions of dollars in service contracts.
Someday Soon, a Computer Will Do the Report for the Morning Meeting
When the drilling crew arrives for the morning meeting, the computer will have generated its daily operations report.
The Big Unknowns for World’s Balancing Act of Supply and Demand
Prices are up, and so is production. But a new report from BP raises important questions as to how the biggest producers will respond to shifting dynamics.
Permian Oil Production Could Soon Reach 5.4 Million B/D
A report from IHS Markit forecasts continued strong production growth in the Permian over the next 5 years despite the well-documented challenges that have recently emerged in the basin.
Rising Tide of Produced Water Could Pinch Permian Growth
As oil production grows by millions of barrels in the Permian, so does the water. A report from Wood Mackenzie offers an estimate of the cost and who will be affected most.
Old CaTS Technology Learns a New Trick
Acquiring data from an abandoned subsea well has been done before, but never quite like this.
Equinor, ExxonMobil Rack up More Brazilian Presalt Acreage
Equinor and ExxonMobil continued their aggressive pursuit of acreage offshore Brazil, collecting more blocks in the country's 4th pre-salt bid round.
Can a Computer Spot Possibilities a Team of Engineers Would Miss?
A startup company has created a system to create thousands of offshore development ideas by rapidly putting together components like building blocks, which its founders argue will force design teams to look outside their comfort zone.
Dog Food, Subs Feed Technology Development at Halliburton
Seeking out, experimenting with, and ultimately embracing technologies from other industries have proven crucial to innovating at oilfield service firms such as Halliburton, which has tried everything from dog food to submarine tech to improve its work downhole.
AR Headsets Give Oil and Gas Sector the Quicker Fix
Wearable computers are turning heads in the oil and gas industry and appear to be on a trajectory for widespread adoption.
Saudi Aramco, Halliburton Sign Landmark Deal
Saudi Aramco is tapping Halliburton’s expertise in developing unconventional resources to increase domestic gas production, a pillar of its long-term strategy.
IOGP Report Explores Changing Global Oil and Gas Supply-Demand Mix
The world’s sources of oil and gas supply and demand are changing, which is captured by a report from the International Association of Oil & Gas Producers. Technological advancements and economic development are serving as catalysts behind a new energy landscape.
Shaking up the Seismic Business with a Simple Idea
Understanding the behavior of subsea reservoirs traditionally takes months and millions of dollars. A new company says it can do this with a very targeted way in less than a week, for only thousands of dollars.
Shell Makes Large Discovery Near Appomattox in Gulf of Mexico
Shell made its sixth discovery from the Norphlet formation in the deepwater Gulf of Mexico, where the firm’s newly arrived Appomattox platform just 13 miles away presents a tieback opportunity.
North Sea Acreage Awarded to 61 Firms in UK Licensing Round
UK’s active 30th Licensing Round resulted in the award of 123 licenses to a diverse set of 61 companies—an outcome that UK government officials hailed as more proof that interest is picking up in the aging North Sea.
Argentina’s Shale Play is Beginning to Live up to Expectations
Wells are starting to come on stronger than expected, which is putting a new emphasis on orginizing all the other ingredients needed for shale production: more rigs, roads, pipelines, water, and sand.
Shallow Ports Keep US from Exporting Even More Crude
Even though exports are rising to more than 1.6 million B/D, the US is facing a new bottleneck at its port facilities.
Marriage of Ideas Could Allow More Deepwater Gas to Shore
When two engineers lost their jobs during the industry downturn, they used the misfortune as an opportunity to develop an innovative concept that aims to make it a lot easier to move subsea gas long distances.
Total Prepares Exit from Big Iran Project as US Sanctions Renewed
The US re-imposing sanctions on Iran has prompted Total to consider dropping its stake in a project designed to bolster output from the world’s largest gas field.
ConocoPhillips Considering Sale of North Sea Assets?
The potential sale could net as much as $2 billion, depending on which assets were made available. The company has not launched a formal process but is said to be testing the waters, according to a new report by Reuters.
University Group Lists “Most Promising” Oil & Gas Startups of the Year
Being a startup in oil and gas isn’t always easy, and so it is nice when you get noticed at the industry’s largest gathering, the Offshore Technology Conference. Learn about 10 new companies that industry insiders say are the ones to watch in 2018.
How ConocoPhillips Solved its Big Data Problem
Unconventional operators are finally beginning to use to their advantage the nearly endless stream of data they’ve collected over the years. ConocoPhillips explains how it has seen real improvements in its operations by removing data friction and opening up access across typical work silos.
Making Money in Brazilian Oil Demands Patience, Persistence, and Problem Solving
Brazil’s large offshore discoveries and domestic demand for oil and gas are a combination that holds potential for explorers to make money on high-priced blocks. A series of offshore auctions offering more attractive properties at more reasonable terms have attracted aggressive bidding.
Guyana and Suriname: What’s Next on the Horizon?
ExxonMobil’s hot streak of offshore discoveries have sparked investor interest in the Guyana-Suriname basin. How did the company get there, and why do industry representatives feel optimistic about future deepwater prospects in the region?
Oil at $70 Provides Little Comfort Offshore
Sustainable cost reductions through innovation and standardization will have more of a positive effect on the offshore sector than cyclical oil-price increases, an OTC panel of industry participants agreed.
OTC Panel Proud of the Past, Optimistic About the Future
The 50th edition of the Offshore Technology Conference kicked off with a distinguished panel representing operators and service companies evaluating the contributions of the past half century.
Total, Google Cloud to Team on AI for Upstream
Total is expanding its development and use of artificial intelligence to bolster its exploration work, collaborating with Google Cloud—which is stepping up its presence in the oil and gas industry.
Building Wells With An Eye on the Future
Wells often end up producing oil and gas far longer than expected. But that often requires the operator to commit to building and maintaining facilities for the long haul.
Pioneer Unveils Strategy To Boost Permian Production, Control Costs
As it works to increase production to 1 million BOE/D, Permian mainstay Pioneer is taking a methodical approach to sustaining capital efficiency.
Shale Output Redefining US Production
US oil production is getting lighter and gas production is spreading as unconventional formations feed export growth.
Another View: People Strategies Need To Keep Up With Rapid Digitalization
The world is digitalizing all around us. Within the energy sector, the lower-price environment since 2014 has increased the pace of change and the scope of digital integration. But, are you bringing your people strategy along?
Abu Dhabi Plans International Tender for Oil and Gas Exploration Blocks
Abu Dhabi will conduct its first-ever competitive tender for international partners to explore and develop oil and gas blocks onshore and offshore.
With US Growth Toward Global Energy Dominance, Infrastructure, Technology Advances Remain Critical
The United States is producing a growing share of the world’s oil and gas, with a potential impact that remains uncertain. But continuing infrastructure development and technology advances will be critical in the long term.
Total Becomes Founding Partner of Smart Energy Fund in China
The $50-million investment ranks as one of Total Energy Ventures’ biggest investments to date. Dedicated to China’s energy sector, it will focus on renewable energies, the energy internet, energy storage, distributed energy, smart energy, and low-carbon businesses.
SPE Board Announces Nominees for 2020 President and 2019 Directors
Shauna Noonan is the nominee for 2020 SPE President. She and six others make up the slate of nominees recommended for positions open on the SPE Board of Directors.
International Majors Expand Footprints in Brazil, Mexico
With presidential elections looming and energy reforms at a critical juncture, the two Latin American energy powers awarded a bevy of blocks to a who’s who of international oil companies.
BP: Robust Adoption of Electric Vehicles Would Not Stop Oil Consumption Growth
Even a robust adoption of electric vehicles in the next 2 decades would not eliminate the growth of either global oil consumption or carbon emissions, BP Chief Economist Spencer Dale said at the rollout of the company’s 2018 Energy Outlook.
IEA Sees No End to US Shale Output Surge
The scheme by OPEC and non-OPEC producers to collectively curb oil production has brought stability to the global market—which, as a result, could soon be awash in “a second wave” of US shale output growth.
ExxonMobil Exits Russian Ventures, Continues Success off Guyana
The US supermajor continues to evolve its global strategy by pulling out of once-promising Russian partnerships and adding to its offshore Guyana oil drilling bounty.
Another Big Gas Field Starts Production Offshore Egypt
More gas is flowing from Egyptian waters and the Eastern Mediterranean with BP’s launch of its Atoll Phase One project.
Companies, Individuals Take Honors at OTC Asia
The third edition of the OTC Asia conference recognized several companies and individuals for technological achievements.
Future US Onshore Growth Depends on a Higher Price
Strong US production growth and rising oil prices no longer look incompatible. With a lot less oil in storage, the production is needed to meet growing demand and cover the cost of added output.
A Permanent Fiber-Optic Wellbore-Fluid-Level Monitoring System
In a collaborative project, the possibility of measuring fluid levels in a wellbore by use of distributed optical pressure gauges was conceived, prototyped, field-trialed, and further developed to a point of widespread commercialization.
Concho Deal Creates Permian Basin Giant
A pair of Permian pure-play operators are consolidating to form a regional drilling and production powerhouse.
How is Industry Finding the Next Generation of New Technologies?
The process of finding, developing, and testing new technology can be as complicated as the technology itself—especially at a time when operators have little tolerance for risk.
TechnipFMC Delivers Subsea Systems for Lancaster EPS
Hurricane Energy is still on pace for first oil in 2019 for the Lancaster field, which may lead to more significant development in the UK North Sea.
Latest Gulf of Mexico Lease Sale Generates Moderate Bidding Interest
The largest lease sale in the history of the area attracts $139 million in total bids, a $2 million increase over the previous lease sale held last August.
OTC Names Best New Offshore Technologies
The Offshore Technology Conference has announced the winners of the 2018 Spotlight on New Technology Award, recognizing excellence in offshore E&P.
Eni Starts Up Oil Production From Ochigufu
The startup of the 1300-m water depth field is Eni’s fifth new field since 2014 in its West End development offshore Angola.
‘Enormous’ Merge Play Resource Rivals Major World Gas Fields, Largest Discoveries
Producers in Oklahoma’s newly opened Merge play are sitting atop a resource that rivals some major world gas fields and discoveries, Citizen Energy’s Geology CEO Greg Augsburger told the SPE Gulf Coast Section Business Development Group recently.
It Can Be Hard To Prove You Really Cut Costs
Telling executives that the cost per foot drilled is down is not going to convince them that drilling is getting more efficient. That requires translating drilling measures into the language of corporate budgeters.
First Person: Oilfield Success of “Millennials” in the 1970s Might Offer Encouragement Today
The success of an upstream startup in the 1970s might offer lessons for those entering the oil and gas industry today.
Industry’s New Generation Adds Skills But Faces Challenges
The newcomers to exploration are digital natives arriving at companies that need their skills to mine underused hordes of data. But those looking to get ahead have a lot to learn.
Eni Enters Abu Dhabi Amid Another Zohr Farm Down off Egypt
Partnerships are proving key in developing and sustaining big offshore projects internationally, with Eni now teaming with ADNOC off Abu Dhabi and farming out another stake in the Zohr gas field off Egypt.
Engineering Bits for Drilling Down Close to the Magma
Geothermal power offers enormous potential—an inexhaustible supply heat to drive huge electric plants around the clock—but that extreme heat can quickly kill conventional hardware, which led to something new.
Alternatives No Threat to Oil, Aramco CEO Says
Fears of peak oil demand are exaggerated, Saudi Aramco’s CEO says, despite recent headlines that advances in electric vehicles and worries about climate change will lead to a drop in global oil and gas use.
Event to Bring Innovators, Entrepreneurs, and Investors Together
A 2-day event in Houston will bring together investors, entrepreneurs, and innovators from the oil and gas industry to discuss trends and pitch ideas.
Operators Utilize Early, Strategic Planning for Successful Decommissioning
Many operators are taking a full-life-cycle approach to preparing for decommissioning—a shift borne of necessity amid cost and regulatory constraints.
Schlumberger and Subsea 7 Announce Intent to Create Joint Venture
Schlumberger and Subsea 7 want to form a joint venture that builds on their 2-year collaboration in the subsea sector.
Looking for Innovation: Oilfield Services Remain a Challenge
The capital intensity of energy operations provides a challenge for early-stage companies looking to stand out. What makes companies innovative, and where are the areas where venture capital is seeing the most innovation?
Zepeda Touts Mexican Upstream Industry’s ‘New Information Market,’ Constitutional Resiliency
CNH President Juan Carlos Zepeda discusses the role of information management in Mexican energy reform and what lies ahead for the monumental industry transformation in an election year.
BP’s Dudley: Energy Industry in Rapid Transition With Intensifying Competition, Lower Carbon Goals
The energy industry is in a rapid transition, with growing competitive pressures and the critical long-term need to reduce global carbon emissions, BP Group Chief Executive Bob Dudley said in introducing this year’s BP Energy Outlook.
Rystad Sees ‘Very Promising Year’ for Shale
Analysts at Rystad Energy, an oil and gas consulting and business intelligence data firm, anticipate a strong year ahead for North American shale oil producers.
It is Time for Oil Companies To Find Some New Technology
The future of unconventional exploration will require a break from the status quo. With well productivity stalling, it is time to look for a new plan of attack.
Oil and Gas Acquisitions Ready To Grow
Oil industry acquisitions appear ready to increase in 2018 and shift from survival strategies toward growth objectives, according to key business observers at global professional services firm EY.
Double-Digit Growth Forecast in US Drilling and Completion Market
Drilling and completion expenditure and activity is projected to show multiyear double-digit growth from 2018–2022 despite a flattening of rig count increases.
OTC Names Distinguished Achievement Award Winners
This year’s OTC awards will go to individuals and companies that have made significant contributions to the offshore section.
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01 August 2018
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