Using Microseismic To See Where Fracturing is Happening
When it came to decide where to collect a critical sample of fractured rock, a new method for turning microseismic data into a heat map designed to display the most intense fracturing activity was considered.
Outlook Optimistic, but Concerns Over Permian Takeaway and Steel Tariffs Linger
The Federal Reserve Bank of Dallas’ quarterly survey of operators and service companies shows an industry still confident in its near-term growth prospects. However, concerns remain about a number of issues, ranging from the steel tariffs to crude oil price differentials in the Permian.
Imagine Fracture Modeling Based on Actual Fractures
By measuring which tests best predicted the fractures observed at the Hydraulic Fracturing Test Site, Laredo Petroleum developed a method it hopes will improve fracture modeling in other places.
Real Fractured Rock Is So Complex It’s Time for New Fracturing Models
A close look at hundreds of feet of fractured core samples suggest that new fracture models are needed to simulate complicated reality.
The Company That Slipped Into the Permian “Under The Cover of Darkness”
WPX Energy COO Clay Gaspar discusses his company’s timely transformation into a Permian player and the challenges that lie ahead in the basin.
Three Basins Driving Big Year-Over-Year Increase in US Gas Output
A marked change from a decade ago, Appalachia, the Permian, and the Haynesville now represent almost half of total US gas production, EIA reports.
Permian Leads in Many Ways, Including Rapid Well Declines
Production from older wells in the Permian Basin is declining faster than widely assumed, according to a new study. If this trend holds, it could lead to problems for companies that are depending on those wells to pay for future development or to justify a big acquisition.
Directional Drilling Services Market Grows in 2017, Near-Term Upward Trend Expected
A new report shows a 16% increase fueled by longer lateral lengths and horizontal drilling activity out of the Permian Basin. Continued gains in these areas should bode well for the future, but other factors may play into the market’s performance.
Diamondback Energy Spending $10.5 Billion in Permian Acreage Expansion
Diamondback is slated to become the Permian’s latest pure-play giant with its pending purchases of Energen and Ajax Resources.
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.
Seismic Stimulation: An Eco-Friendly, Effective EOR Alternative
Seismic stimulation, achievable with the implementation of a single tool, requires significantly lower investments than gas, thermal, and chemical injection methods, with minimal environmental impact.
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.
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.
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?
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.
Embedded Discrete Fracture Modeling With Artificial Intelligence in Permian Basin
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.
Concho Deal Creates Permian Basin Giant
A pair of Permian pure-play operators are consolidating to form a regional drilling and production powerhouse.
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.
Water Demand Spurs Permian Infrastructure Investment
Rising oil production in the Permian Basin has created an opportunity for midstream companies to acquire and expand pipeline infrastructure to handle a predicted spike in produced water.
Frac Hits Reveal Well Spacing May Be Too Tight, Completion Volumes Too Large
The effect of frac hits on production economics is becoming more important as a result of the high-speed drilling in the US shale sector. Recent research reveals the financial and recovery risks involved if well spacing results in well-to-well interference.
Permian Winning Streak Could Be Running Out
Projections of future production in the Permian Basin may came up short because new wells drilled near older ones are likely to yield less.
Operators Share Frac Schedules To Know When Wells Are at Risk
To reduce the risk of wells getting “frac hits,” Permian Basin operators around Midland created an information exchange to give them notice of nearby fracturing.
M&A Deals Moving Well Ahead of Last Year’s Pace
Peter Hays, a partner in mergers and acquisitions (M&A) at law firm King & Spalding, says that stabilization in the oil market has helped the industry M&A business to recover.
US Daily Oil Production To Break Record in 2018
Crude oil production in the United States is expected to approach 10 million B/D in 2018 and surpass a previous high achieved in 1970, according to the latest US EIA forecast.
Doing Better By Doing Less: Using Well Logs to Target Productive Rock
The rising cost of fracturing offers a significant incentive for finding ways to avoid unproductive rock. One entrepreneur says he can use standard well logs to target the slice of rock likely produce most, and avoid the rest.
Permian, Bakken Operators Face Produced Water Challenges
As oil prices recover from the low point of the downturn, operators in the Permian and the Bakken are tackling water management issues.
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.
New Oil and Gas Institute Seeks To Boost Knowledge and Production in the Permian Basin
Through data gathering, machine learning, and the use of a supercomputer, a non-profit organization in Texas is seeking to boost oil and gas production on land owned by the states’ two largest university systems.
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.
A Flexible “Well-Factory” Approach to Developing Unconventionals
This paper analyzes differing well-factory approaches to unconventional assets, with examples from the Wolfcamp unconventional oil play in the Permian Basin.
Payoff Still Possible in Refracturing Conventional Wells
A refracturing campaign in the Permian yielded a production gain that allowed payback on the investment within 6–12 months.
High-Fidelity Microseismic-Data Acquisition in the Midland Basin Wolfcamp Shale Play
The integration of microseismic data with 3D seismic attributes, and well log and completions data is used to understand geomechanical rock properties.
Profits Possible at Low Oil Prices But Tough Changes Required
Low oil prices look like something the industry needs to get used to. “This will be with us for a while,” said Rex Tillerson
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