Production ///

Cash-flush shale operators consider raising oil output along with dividends

U.S. shale executives have finally achieved something that eluded the industry for more than a decade: the ability to turn over billions of dollars in dividends to shareholders while at the same time boosting production to tap into surging global oil demand.

Texas upstream oil and gas economy experiences year of recovery in 2021

The Texas oil and gas exploration and production economy enjoyed a year of recovery in 2021 on the heels of nearly two years of contraction, according to the Texas Alliance of Energy Producers’ Texas Petro Index.

Water management

Mark Patton

Whole lotta shaking going on

Equinor’s Martin Linge field officially goes on stream

With good operational performance since the field came on stream in June and high oil and gas prices, the investments in the field are expected to be recovered in full during 2022.

Building a better shale well with biosurfactants improves production and ROI

Martin Shumway

Utilizing environmentally friendly bio-based surfactants that provide mechanisms of action, which surpass traditional petroleum-based products, U.S. operators are improving crude output while increasing total well lifecycle.

Upcoming EPA regulations open the door for innovative methane detection technologies

Stefan Bokaemper, Robert Ward

Upcoming EPA methane regulations are far-reaching and will have a major impact on upstream and midstream operations. Analysis reveals that new technologies may help to reduce operators’ regulatory burden while detecting more emissions than periodic hand-held optical gas inspections.

Ranking anti-agglomerant efficiency for gas hydrates through molecular dynamic simulations

Scot Bodnar, Jonathan Wylde, Juan Sarria, Remi Petuya, Stephan Mohr

Computational methods were used to assess the capacity of four surfactant molecules. The experimental assessment, based on rocking cell measurements, determined the minimum effective dose necessary to inhibit agglomeration, enabling an efficient funnel for molecular optimization and customization.

Russia struggles to lift oil output despite wells at 5-year high

Russia’s operating oil wells reached the highest since OPEC and its allies joined forces, yet bringing back production curtailed under the current deal remains elusive.

Global LNG boom sends Baker Hughes’ demand soaring beyond expectations

Oil and gas drilling is big business once again, if the leap in demand for services from Baker Hughes Co., the world’s No. 2 oilfield contractor, is any gauge.

Schlumberger places $2 billion bet on strong oilfield service demand growth

Schlumberger is gearing up for growth around the world as the No. 1 oilfield contractor expects recovering economies to ignite several years of crude-demand expansion.

Texas natural gas production falls as freezing weather sets in

Texas natural gas production dropped for the second time this month because of freezing temperatures settling over the state.

Russia missing OPEC targets as some members struggle to keep pace

Russia may be able to deliver only about half of its scheduled increases in crude production over the next six months, joining the ranks of OPEC+ nations that are struggling to ramp up even as fuel demand rebounds from the pandemic.

Libyan oil output recovers to nearly a million barrels per day

Libya’s oil production is rising gradually after a blockade of its western fields ended and ports in the east re-opened, according to the OPEC member’s energy minister.

Liberty Lift acquires Corral Oil Field Services

Liberty Lift announced the asset acquisition of Corral Oil Field Services LLC in Andrews, Texas. Corral is a family-owned and -operated artificial lift company specializing in the service, repair, and sale of pumping units and related artificial lift equipment in the Permian basin.

EIA expects shale to drive record U.S. oil production in 2023

U.S. annual oil production is set to rise to a record next year as shale producers continue to boost output.

Equinor takes $1.8B impairment on North Sea Mariner field

Equinor ASA will make a $1.8 billion impairment on its Mariner field after slashing reserve estimates for the U.K. North Sea oil deposit.

U.S. backs Mediterranean power projects to meet Europe’s energy needs

The U.S. is backing natural gas and low-carbon power sources as it seeks to improve the eastern Mediterranean’s energy ties to Europe and promote stability in the region.

Canadian oil exports to Asia reach record with new U.S. link

Canada's oil sands producers were able to export a record amount of crude to overseas markets thanks to a new link to the U.S. Gulf Coast.

U.S. oil majors’ stock prices return to pre-pandemic levels

A rally in oil prices lifted U.S. energy stocks to the highest since the pandemic emerged more than two years ago.

EOG ready to raise shale oil output to meet market demand

EOG Resources Inc., one of the biggest U.S. shale oil producers, is ready to ramp up output as soon as this summer if the market demands it.

Permian’s biggest oil producer closes 2022 hedges in bullish outlook

Pioneer Natural Resources Co., the biggest oil producer in the Permian Basin, closed out almost all its hedges for this year, indicating a bullish outlook for crude prices.

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