Production ///

IEA sees oil price rally slowing as crude output recovers

The tightness in global oil markets that propelled prices to a seven-year high is starting to ease as production recovers in the U.S. and elsewhere, the International Energy Agency said.

Russia joins OPEC pushback on U.S. calls for more oil output

Russia says there is no shortage of oil in the global market and there may even be a surplus from early next year, adding to the chorus of other OPEC+ members to push back against calls from the U.S. to raise output faster.

Saudis, UAE suggest OPEC will resist Biden’s pleas for more oil

Saudi Arabia and the United Arab Emirates signaled OPEC+ will continue raising oil output cautiously and won’t bow to U.S. pressure to pump faster.

ADIPEC: Oxy’s Hollub wants Biden to stop hectoring OPEC and focus on U.S. oil

The ADIPEC conference, running from Nov. 15-18, is taking place in the wake of the COP26 climate talks and with energy prices soaring. Benchmark Brent crude has climbed almost 60% to above $80 a barrel, while gas prices in Asia and Europe hit record highs recently.

U.S. shale oil output nears pre-pandemic levels

Surging oil and natural gas prices are spurring production increases from West Texas to the Upper Great Plains that probably will lift output to levels not seen since the early days of the pandemic, according to Rystad Energy AS.

Nigeria seeks foreign assistance to stop a major oil spill

Nigeria said foreign experts are needed to help plug an oil spill reported earlier this month by local producer Aiteo Eastern E&P Co.

Democrats push to outlaw U.S. oil exports, threatening global market stability

President Joe Biden faces growing pressure from fellow Democrats to address rising gasoline prices with measures such as a ban on oil exports, a move that could upend global markets, discourage shale drilling and end up not helping American drivers that much.

Equinor awards Aker Solutions major FPSO FEED contract

Equinor has signed a contract with Aker Solutions for front-end engineering and design (FEED) of a floating production and storage vessel for the Wisting field. Valued at around NOK 350 million, the study includes an option for engineering, procurement, construction, and installation calculated at NOK 8-12 billion.

Saudis warn air travel recovery will consume spare oil capacity

Spare capacity in the oil market will shrink significantly next year as travel rebounds and due to a lack of investment among producers, according to Saudi Aramco.

COP26: UK won’t join coalition to phase out fossil fuels

The UK won’t join an alliance of countries fixing a date to phase out fossil fuel production, in a move that calls into question the COP26 host nation’s climate leadership.

What's new in Production

Willard C. (Bill) Capdevielle, P.E., Contributing Editor

Functionalized surfaces

Shell resumes oil exports at Mars and Ursa in the Gulf of Mexico

Shell Offshore Inc. has safely and successfully re-started production at its Mars and Ursa platforms in the US Gulf of Mexico and began exporting oil and gas through the West Delta-143 (WD-143) “A” facility.

Managing reservoirs with 4D seismic

Dr. Bill Shea, Sharp Reflections

By accelerating the identification and mapping of production-induced seismic changes, a new 4D feature can enable operators to increase the potential of finding hydrocarbons in poorly drained or overlooked sections of offshore reservoirs.

Southwestern Energy to acquire GEP Haynesville for $1.8 billion

Southwestern Energy Company announced that it has entered into a definitive agreement with the third largest private Haynesville producer – GEP Haynesville, LLC under which it will acquire GEP for approximately $1.85 billion. The transaction is expected to close by year-end 2021, subject to customary closing conditions.

Biden’s demand for more foreign oil charts a collision course with OPEC

OPEC+ is heading for a politically consequential showdown with President Joe Biden, as Saudi Arabia and its allies must choose whether to heed American demands for more oil.

Texas oil regulator blasts Biden’s pro-OPEC, anti-U.S. energy industry stance

“It’s hypocritical to kill clean fossil fuel jobs here in America claiming it ensures a clean environment, and then beg our foreign adversaries to produce more using much less environment-friendly methods," Railroad Commission of Texas Chairman Wayne Christian said in a statement.

Uganda counts on TotalEnergies, CNOOC to create new African oil hub

Ugandan President Yoweri Museveni is counting on TotalEnergies SE and CNOOC Ltd. to produce oil from its fields in four years, laying the foundation for a new regional fuel hub.

Russian oil output rose in October on OPEC quota hike

Russia’s oil output increased in October for a second straight month as companies open the taps under the OPEC+ agreement to raise output.

Shale driller Diamondback to hold oil output steady through 2022

Diamondback Energy Inc. just gave one of the first shale production forecasts for next year, and it’s holding pat.

COP26: Biden launches methane-reduction plan, gives flaring a pass

The Biden administration is launching an assault on methane Tuesday, advancing initiatives across government - and the globe - to keep the potent, heat-trapping gas from escaping landfills, oil wells and farms.