TOPICS OF INTEREST
CNOOC’s “Major Find” In North Sea Is Biggest In 11 Years
The state-run offshore company has found a gas and condensate field that holds an estimated 250 million BOE.
BP’s Seismic Innovations Used To Find Cheap Barrels Offshore
BP announced four discoveries in the Gulf of Mexico near existing platforms. It use advanced seismic imaging to identify resources in deepwater locations that can be developed cost effectively using platforms nearby.
USGS’s Largest-Ever Assessment of Continuous Oil Potential: Permian’s Wolfcamp-Bone Spring
Production and proved reserves in the Permian Basin’s Wolfcamp Shale and Bone Spring Formation are reaching new heights, and a new assessment from the US Geological Survey indicates the industry is just scratching the subsurface when it comes to what may be technically recoverable.
US Oil, Gas Reserves Hit All-Time Highs
Proved oil and gas reserves in the US have spiked to levels not seen before, the EIA reports, and one of the main drivers is the Permian’s Wolfcamp-Bone Spring Shale.
New Method for Predicting Production Boosts Accuracy for Carbonate Reservoirs
This paper proposes a new method of economic prediction on the basis of expert library and oilfield databases. The method takes into account geological factors and the effect of production factors on the economic prediction.
‘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.
Need for Reserves Replacement Drives Exploration Investment
Despite an abundance of discovered resources, most companies are still running at unsustainable reserves replacement levels, necessitating further investment in exploration of conventional and unconventional reservoirs.
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.
BP and Shell Agree: A New Energy Future Is Coming
The world still needs oil and gas, but it is also making room for renewable energy which will change how upstream companies do business.
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.
PDC Optimistic About Wattenberg, Delaware Assets
PDC’s president and CEO describes the company’s management strategy for its hydraulic fracturing operations in the Wattenberg Field and the Delaware Basin.
Governments, companies, service providers, and many other stakeholders in the industry have realized the oil-price outlook may remain low for longer than expected and the need to plan accordingly.
Unconventional Risk and Uncertainty: What Does Success Look Like?
This paper presents approaches for proper risking of uncertain recoverable volumes for an unconventional resource, taking into account the chance of false positives from appraisal-well information.
Calculating Reserve Estimates Even for Solar Power Projects
Compared to oil in the ground, the sun looks like a limitless energy source. Making comparisons of the two by calculating the equivalent of barrels of reserves for a solar project seems like an odd notion, but experts say it can and should be done.
Marcellus Wells: Ultimate Production Accurately Predicted From Initial Production
In this work, the authors perform automatic decline analysis on Marcellus Shale gas wells and predict ultimate recovery for each well.
Geology-Driven Estimated-Ultimate-Recovery Prediction With Deep Learning
The authors present a geology-driven deep-learning estimated-ultimate-recovery (EUR)-prediction model for multistage hydraulically fractured horizontal wells in tight gas and oil reservoirs.
Drawdown Management Critical To Mitigating EUR Losses in Shale Wells
In drawdown management, operators can exert control over the downhole flow pressure, reservoir pressure, and choke size to avoid estimated ultimate recovery (EUR) losses.
Chance of Development: Definition, Estimation, and Use
This paper will examine ways in which Chance of Development (CoD) can be defined better, methods for its estimation, and its appropriate application along with common misuses.
The need for cost and capital efficiency calls for careful integration of technical and commercial elements.
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12 February 2019
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