Production
News
August 08, 2023
Higher-than-expected well productivity and rising crude prices will help boost U.S. production to a record 12.8 MMbpd in 2023, up from a previous forecast of 12.6 MMbpd, according to a monthly report from the U.S. Energy Information Administration released Tuesday.
News
August 04, 2023
A monitoring committee comprising the kingdom and other key OPEC nations recommended no changes to the coalition’s supply policy at an online meeting on Friday, according to a delegate, who asked not to be named because the information was private.
News
August 03, 2023
The leader of OPEC will prolong the cutback of 1 MMbpd — launched last month — into September, according to a statement on state Saudi Press Agency. That will hold output at about 9 MMbpd, the lowest level in several years.
News
August 01, 2023
Output from the Organization of Petroleum Exporting Countries plunged by 900,000 bpd last month to an average of 27.79 MMbpd, according to a Bloomberg survey. It’s the biggest reduction since the group and its allies slashed supplies during the depths of the Covid pandemic in 2020.
Webcast
Eliminating Costly Workovers to Advance in Oilfield Efficiency
August 23, 2023
Baker Hughes
Electrical submersible pumps have been in use for a long time, but conventionally they are installed inline with production tubing. By eliminating the need for a rig after the initial install of the permanent completion, customers save significant cost, reduce carbon footprint, reduce mobilization time, and minimize deferred oil production.
News
July 31, 2023
Rigs drilled 14.7 thousand kilometers of production wells in Russia from January to June, 6.6% more than planned and 8.6% more than the same period in 2022, according to data seen by Bloomberg.
News
July 26, 2023
Coretrax, a global well integrity and production optimization leader, is planning for further growth following recent project wins, with headcount rising by 20% to 300 people in the last twelve months.
News
July 26, 2023
Riyadh introduced the additional cutback this month — on top of output curbs it’s already making with fellow OPEC+ producers — to shore up oil markets against a fragile economic backdrop.
News
July 24, 2023
(WO) — Following the completion of testing, Parex Resources Inc. has announced the abandonment of its wholly-owned Chirimoya exploration well at VIM-431 in Colombia.
News
July 24, 2023
Chevron Corp.’s board is waiving the mandatory retirement age for CEO Mike Wirth, giving the company more time to find a successor as it notches record production from the world’s most prolific shale basin.
News
July 24, 2023
(WO) — Canadian Overseas Petroleum Limited (COPL) and its affiliates have signed a non-binding letter of intent (LOI) for a joint venture to develop its Cole Creek project in Converse and Natrona Counties, Wyoming, the company announced on Monday.
News
July 17, 2023
The country’s crude yields peaked in 2008 at slightly less than 2 MMbpd and now stand at around 1.10-1.15 MMbpd.
News
July 17, 2023
The nearby — but smaller — El Feel field, which was shut as part of the same protests, has also resumed production, another person familiar with the matter said.
Webcast
Leveraging production facility and methane event data to maximize production while reducing emissions with TechnipFMC’s e-Mission™ Suite and Kuva Systems
August 09, 2023
TechnipFMC
e-Mission™ Suite is a configure-to-order composable digital twin solution that consist of four applications: Thermal, Methane, Tank, and VRU. These offerings provide actionable operational insights to reduce flaring and methane emissions while improving asset integrity for production facility equipment that will aid in meeting net zero goals.
In this webcast, Laura Schilling will be detailing how TechnipFMC’s e-Mission™ Suite leverages production facility and methane event data to maximize production while reducing emissions. Stefan Bokaemper will be explaining how the data captured with Kuva Systems is utilized to identify methane emission events that will aid in determining potential root causes.
Find out more on how these technologies can enable production facilities to reach their net zero goals.
Whitepaper
Finding a Better Lining for Free Water Knockout Vessels
July 13, 2023
Sherwin Williams
News
July 13, 2023
World fuel consumption will increase by 2.2 MMbpd— or about 2% — in 2023, a reduction of about 220,000 bbl from last month’s forecast, the Paris-based agency said in a report on Thursday. Demand nonetheless remains on track to hit record levels later this year, draining inventories substantially in the second half.
News
July 13, 2023
The acquisition includes Gulf Coast and Rocky Mountain oil and natural gas operations. These operations consist of proved reserves totaling over 200 MMboe, with 47,000 oil-equivalent bpd of current production.
News
July 10, 2023
During a meeting held on July 9 in Algiers between Patrick Pouyanné, Chairman and CEO of TotalEnergies, and Toufik Hakkar, Chief Executive Officer of SONATRACH, several agreements were signed to strengthen the cooperation between the two companies in the production of natural gas in Algeria, the delivery of liquefied natural gas (LNG) to Europe, as well as the development of renewables in Algeria.
News
July 06, 2023
The system integrates in-well monitoring and control of gas lift well performance with surface analytics and automation to continually optimize gas-lifted fields, remotely and without intervention.
News
July 05, 2023
The UAE is “doing enough” to contribute to the OPEC+ supply curbs, Energy Minister Suhail Al Mazrouei told reporters in Vienna. He noted the large difference between the nation’s current output — seen at 3.07 MMbpd last month, according to a Bloomberg survey — and its full capacity of 4 MMbpd.
News
June 30, 2023
Laura Daniel-Davis, the Principal Deputy Assistant Secretary of Land and Mineral Management at the Interior Department, said in a letter released Thursday that the agency couldn’t dedicate its “limited resources” to establishing a phase down program, given “competing priorities,” including implementing lease sales mandated by last year’s sweeping climate law.
