Production
Article
June 2021
A mature field in Ecuador posed a range of challenges that threatened its long-term economics. Extended-life ESPs, combined with remote real-time surveillance, were a viable solution to handle gassy, sandy wells with steep production decline, saving $2.5 million in workover costs.
News
June 24, 2021
The global oil market is calling out for a substantial increase in supplies, but OPEC+ is expected to provide only a fraction of what consumers are demanding.
News
June 24, 2021
Stockpiles in Cushing, Oklahoma, the delivery point for West Texas Intermediate oil futures fell nearly 4 million barrels in the last two weeks, bringing inventories to the lowest since March of 2020 when the pandemic forced the country into lockdown.
News
June 23, 2021
Philip LeJeune, LLOG’s President and CEO said “We are pleased to announce first oil from our Praline field, our first pipe-in-pipe tieback, and the continued successful development of our high quality prospect inventory. Praline is the first of four tieback projects we expect to have online in the next year."
News
June 21, 2021
“They blocked us, they sanctioned us, they stole all our foreign assets,” said Venezuelan oil minister Tareck El Aissami. “Without any financing, with our own money, we’ve been able to invest enough to stop the slide and start a gradual recovery.”
News
June 21, 2021
Devon Energy announced it is establishing new environmental performance targets focused on reducing the carbon intensity of its operations, minimizing freshwater use, and engaging constructively with its value chain.
Article
June 2021
A systematic approach reduces failures and associated costs, while extending beam pumping run times.
Article
June 2021
Many factors must be considered when discussing how to optimize production, but industry evolution and advances in technology have made clear that operators cannot properly place artificial lift equipment without truly understanding the quality of their wellbore.
News
June 10, 2021
The transaction, which is expected to close in the third quarter of 2021, includes approximately 25,000 net acres in the Southern Delaware Basin in Texas with current production of approximately 10,000 barrels of oil equivalent per day from about 360 active wells.
News
June 09, 2021
With the East African Oil Pipeline project recently getting the go-ahead, Uganda is set to produce its first oil as early as 2025 and production in the next five years is expected to jump to 230,000 barrels per day, from zero in 2021, says GlobalData, a leading data and analytics company.
News
June 08, 2021
KKR and Contango are doubling down on investing in exploration and production companies as many in the sector seek to recover from years of poor returns amid the shale boom and bust. The combination is said to allow the merged company to reach greater scale, boost access to capital and drive down the cost of production.
Article
June 2021
In a fast-paced, cost-conscious oil and gas industry, OEM groups seek standardization and efficiencies through commodity manufactured valves. These products provide the availability and utility demanded by end users to adequately support operational needs. One variable difficult to fit into this “commodity mindset” is the choke valve.
News
June 07, 2021
Energy giant BP sees a strong recovery in global crude demand and expects it to last for some time, with U.S. shale production being kept in check, according to CEO Bernard Looney.
News
June 07, 2021
The decline in U.S. drilling and output leaves little competition to OPEC's efforts to manage markets, Mike Muller, Vitol’s head of Asia, said during an online conference on Sunday. Brent crude closed above $70 a barrel last week for the first time in two years, as buyers demand more oil than producers are pumping.
News
June 04, 2021
“The world risks a severe deficit of oil and gas,” Rosneft CEO Igor Sechin said Saturday at the St. Petersburg International Economic Forum. “The world consumes oil, but isn’t ready to invest in it.”
News
June 03, 2021
If the world were to follow the International Energy Agency’s controversial road map, which said investment in new fields would have to stop immediately to achieve net-zero carbon emissions by 2050, “the price for oil will go to, what, $200? Gas prices will skyrocket,” said Russian Deputy Prime Minister Alexander Novak.
News
June 03, 2021
Chevron CEO Mike Wirth signaled he would consider selling its 20% stake in a Canadian oil sands mine as its faces investor pressure to do more to curb emissions and fight climate change.
News
June 02, 2021
The Denver Julesburg (DJ) Basin located in Colorado and Wyoming has experienced a constant decline since production peaked in November 2019. Reversing this trend will depend on the capital allocation from major oil and gas operators in this region, says GlobalData, a leading data and analytics company.
News
May 31, 2021
The global natural gas industry is in an existential race: either find a way to be part of the next generation of energy or risk getting supplanted by alternatives.
News
May 31, 2021
Iran’s oil minister said the country can increase its crude production rapidly, as world powers enter the final stages of negotiations to revive a 2015 nuclear accord with the Islamic Republic.
