Production

In this webinar, industry experts Patrick Hayes and Dr. Sudiptya Banerjee will demonstrate the value of using chemical tracers as an essential technology throughout all phases of a reservoir E&P lifecycle with a focus on hydraulically stimulated wells. After outlining the different methods of tracer monitoring and guidelines for tracer selection, the webinar will explore the value proposition for using chemical tracer technology during and after exploration through a series of illustrative case histories. By the conclusion of this talk, attendees should understand how tracers can provide insight into their reservoir and production strategy.

iProduction™ is a modern approach to multi-well processing focused on the reduction of GHG emissions. This includes well pad processing, gathering lines, and central processing facilities under a single digital interface with autonomous control. In this webcast, Laura Schilling and Isabel Chan will be detailing how TechnipFMC’s iProduction™ ecosystem can effectively address the facility GHG challenges of the future and reduce LP flaring by 60%. iProduction™ also has a smaller footprint, lower total cost and uses modules prefabricated offsite for faster field startup and lower operating expense. Our customers that have adopted this ecosystem have seen operations becoming more streamlined, reduce GHG emissions, reduce capital, and decrease time to first oil. Our propriety AOS is the dynamically optimizing heart of iProduction™.

How the fragmented U.S. shale industry will respond to increased incentives to drill has become a crucial question for traders and industry watchers across the world.

The OPEC member’s output has fallen to around 1 million barrels daily in the wake of Waha Oil Co.’s decision to shut a key pipeline taking crude to Libya's largest oil port, Es Sider.

With demand still fragile, shale companies “are wise not to jump the gun and overproduce during the recovery year,” UAE Energy Minister Suhail Al Mazrouei said in an interview, adding they “need to be careful not to flood the market.”

The U.S. Energy Information Administration said that recent crude price increases and rig additions will help production in the Lower 48 states begin to rise in the second quarter of this year, with total output nearing 11.5 MMbpd in 2022.

In a year that brought the U.S. shale industry to its knees, the Brazilian state-run giant pumped an all-time-high 2.3 million barrels a day of crude, according to a statement Thursday. That’s about the same as OPEC member Kuwait.

“I have a hard time seeing the need for U.S. producers over the next several years to get back to double-digit growth,” Devon Energy CEO Rick Muncrief said in an interview. “For this management team, if we really think about 2021, let’s keep it flat.”

“I really don’t see much increase in the Permian basin or the U.S. shale over the next several years,” said Scott Sheffield, chief executive officer of Pioneer Natural Resources Co.

National Iranian South Oil Co. and Iranian Offshore Oil Co. will sign deals with domestic contractors covering onshore fields in Bushehr, Fars, Khuzestan, and Kohgiluyeh and Boyer-Ahmad provinces, National Iranian Oil Co. said in a statement.

Venezuela has managed to defy sweeping U.S. sanctions against state-owned producer PDVSA and keep shipping some crude abroad, mainly to China. But Washington has intensified the crackdown on companies that break the restrictions, and PDVSA has struggled to sell its barrels in Asia.

With oil prices hitting decade lows and energy activities downsized during a global pandemic, operators globally are seeking assurance that every spend drives a strong return on investment. Yet many completion and production choices are made in an environment of uncertainty, making technology that can inform well design and operational planning more crucial than ever. Chemical tracers are one such tool. A proven and reliable method of reservoir surveillance, tracer studies have demonstratable value for quickly and accurately adapting field strategies to real-time market needs. Whether a conventional or unconventional field, a properly designed and utilized tracer study has the potential to reduce lifting costs, improve production, and mitigate risk to CAPEX/OPEX spends. In this webinar, industry experts will provide an overview of current tracer technologies, dispel marketing myths, and detail a holistic use of tracers and the value added for multiple case studies across the globe. Application of tracers in hydraulically fractured wells, extended-reach well inflow studies, and flood-driven EOR case studies will all be covered. By the conclusion of this talk, the audience will have a working knowledge of the frontiers of tracer technology as well as an understanding of how this potent, low-risk, and low-cost tool can innovate their current field production plans.

Hedge funds are approaching the end of the year more optimistic on global oil prices than they’ve been since May.

OPEC+ output cuts have stabilized the global oil market but can’t last forever, Russia said as uncertainty persists over the future of the agreement beyond March.

America’s top shale field is becoming increasingly gassy as drilling slows down, undercutting profits for explorers at a time when investors are demanding better returns.

Oil prices are likely to remain in check during 2020 as OPEC+ production cuts are offset by higher output from other countries and a mixed outlook for demand, according to analysts.

Saudi Arabia and Kuwait agreed to resume oil production in a shared border region more than four years after halting output.

Crude-by-rail capacity in Alberta is expected to grow by 100,000 bpd in December after the provincial government eased production limits for oil transported by train, the Energy Ministry said Wednesday.