Sand generates respirable dust comprising crystalline silica, which is a concern for the hydraulic fracturing industry.
Not satisfied with their efforts on a national, federal scale, environmental and other anti-industry activists have begun to focus on the local level, in their attempt to block the U.S. shale oil and gas revolution
The North American shale revolution has completely changed the visibility of oil and gas operations, throughout the world. Shale development is attractive for most countries, because it can increase domestic supply (with the potential for exports) and displace the use of coal or liquid hydrocarbons. The economic impact (job creation, capital expenditures, revenues to the state) provides positive benefits. Two of the most impressive benefits include the economic impact of low-cost natural gas on the economy, and the sharp decrease in greenhouse gas emissions, due to decreased reliance on coal-fired power plants.
In 1971, Walt Disney World held its grand opening in Florida. My entire family was there on that day, and, for many years to follow, we made our annual pilgrimage to the Magic Kingdom. While it was loads of fun, many of the attractions were educational and designed to inspire. For me, Walt Disney’s Carousel of Progress in Tomorrowland was a pivotal attraction. The Carousel of Progress depicts a typical American family and explores the joys of living through technological advances across different time periods, including speculation about how these improvements might continue into the future.
As I sit down to consider 2015, Chevron’s upstream portfolio is poised for continued growth through projects around the world. Our resource base is large and diverse, providing us flexibility to react to market conditions. We have a strong balance sheet and the capacity to fund attractive growth opportunities—even in times of lower crude prices.
Like every year, 2015 will bring its share of surprises and unpredictable events. A year ago, the politics of the mid-term elections dominated much of the energy-related discussion. Notice I said “discussion,” because decisions were hard to come by, with a divided Congress and White House.
Oil prices in the world market hit a three-year low during November, but that has not inhibited the enthusiasm and positive long-term outlook for the energy industry. The surge in U.S. production has changed the game for the national economy and reset the world stage. The recent drop in prices represents a shift of market fundamentals adjusting to a new, abundant supply. It also signals the growing strength of the United States’ hand.
Despite a variety of interfering factors, U.S. activity remains at a high level, aided by the industry’s technical and efficiency gains. Canada continues to slowly rebound on the strength of oil activity, while Mexico remains at a lower level.
The South Texas fairway of the Eagle Ford/Pearsall shale has taken on the feel of a more than 400-mi-long trade mart this year, as new players shell out top dollar to gain a share of what are among the highest recovery rates in the unconventional sector, and a play with plenty of room to grow.
One of the most efficient drillers in the Eagle Ford has turned its attention lately toward capitalizing on its diverse technical toolkit, to both increase and sustain production rates.
Production peaking for now, but potential remains strong
Oil and gas well intervention operations, particularly subsea interventions, are expensive and can take rigs away from more productive exploration and development work.
Several univariate and multivariate statistical and machine learning methods were used to predict the production quality of Permian basin, Wolfcamp shale wells. Consistent with other data mining studies, univariate linear methods are shown to be much less robust than multivariate non-linear methods, which tend to produce more reliable results.