TOPICS OF INTEREST
Schlumberger and Thermal Energy Partners To Create STEP Energy
The new geothermal project development company will offer expertise in subsurface and drilling, project development, and risk mitigation.
Cybersecurity: Preventing Infection in a Body of Data
The oil and gas industry is increasingly characterized by complex connectivity, but our digital dependency brings a new realm of cyber risks. Are we cyber-ready?
Operation Planning Tool Improves Quality, Efficiency of Offshore Risk Management
The complete paper discusses Equinor’s operation planning tool, developed to present planners with the technical conditions of a platform, identify potentially dangerous combinations of concurrent activities, and propose learnings from 8 years of incident recordings.
Price-Plunge Fallout: Let’s Make a Deal
Nearly everything’s on the table as companies aim to shore up portfolios by curtailing investments and dumping low-priority assets.
JV Strikes Blockbuster Infrastructure Deal With ADNOC
The $20.7-billion agreement is the single-largest energy infrastructure investment in the region.
Succeeding in the New Pressure Pumping Environment
New report offers guidelines for pressure pumpers of the future.
Pandemic Delivers Seismic Shock to Global Energy System: WEC
COVID-19 will fundamentally affect the world’s energy systems and the pace and direction of global transition. The WEC identified a three-stage, respond-rebuild-recreate model being adopted by energy companies in response to the pandemic.
BP To Cut 14% of Workforce
The supermajor will cut 10,000 jobs by year end.
What Damage Is Wrought by the Rush to Shut In Wells?
The Permian Basin is now influencing the upstream water market on the way down, while many questions swirl around the implications of unprecedented shut-ins.
Staking Energy and ESG Positions
What’s driving ESG investment?
US Dept. of Interior Stalls More Oil and Gas Lease Sales
Mississippi land no longer up for grabs, as the fed continues to postpone or cancel the sale of public parcels.
Neptune Exits Deal With Energean for North Sea Assets
Neptune must pay Energean a break-up fee of $5 million for cancelling what was to be a $250 million deal.
Total Puts the Brakes on Oil Deal With Occidental
Houston-based Occidental had earmarked the money to ease debt from buying Anadarko.
Saudi Arabia Faces Challenge in Balancing Deep Oil Cuts With Need for Gas
Middle East could lose 15% of ethane-based ethylene supply in 2020 because of oil supply dynamics.
Offshore Enters Uncharted Waters
For the offshore sector, the collapse in oil demand and prices came just as the market was beginning to look up. Now many companies are focused on survival. This article discusses how various market segments, regions, and companies are faring in “the new reality.”
ConocoPhillips to Voluntarily Cut Production, Reduce Cash Uses; Weatherford to Delist from NYSE
Financial Fallout: For two big companies, tougher times call for tougher actions.
Texas Railroad Commission, Executives Hold Hearing To Explore Production Quotas
Even some free-market advocates are calling for regulators to step in and try to help pull them out of what feels like a chasm by setting production limits.
Pandemic, Falling Oil Prices Threaten Global Licensing Rounds
Exploration commitments are expected to dwindle in the current market environment.
Upstream Digitalization Is Proving Itself in the Real World
For the upstream industry, where improvement in efficiency or production can drive significant financial results, there is no question that the size of the digital prize is huge. So are the challenges.
US to Consider Leasing Space in Strategic Petroleum Reserve
The potential leasing of space in the SPR comes after the DOE’s plans to buy crude oil were suspended. US oil inventory stockpiles stand at a 10-month high.
Russian Government Buys Venezuelan Assets From Its Own Oil Company
US sanctions appear to have prompted a change in ownership. It is unclear how the new arrangement will impact Venezuela’s diminishing ability to export crude oil.
Industry Faces Long Road to Recovery
Leaders of Rystad Energy went online recently to talk about the effects of the coronavirus pandemic on the oil and gas industry, and the prognosis isn’t good.
Global Upstream Industry Moves Into Survival Mode
As the fallout deepens from the coronavirus pandemic and the global collapse in oil and gas prices, oil- and gas-producing regions around the world are feeling the pain.
Oil Prices Look Worse This Week, Time for Companies To Cut Deeper
US shale operators are cutting deeper, with some eliminating drilling and completions activity altogether.
Short-Term Headwinds and Fundamental Long-Term Change Will Challenge Oil and Gas Industry in 2020
Macroeconomic and business risks, investor uncertainty, and the energy transition highlight the challenges outlined in the report.
As Oil and Gas Data Multiply, so Do the Cybersecurity Threats
Saudi Aramco, BP, and Schlumberger pride themselves on staying at the forefront of digital technology development and deployment. But an equally daunting challenge for the industry heavyweights is keeping their ever-expanding digital systems secure.
The Cloud Offers Opportunity for Oil and Gas Cybersecurity
The author argues that the advent of cloud technology should not be regarded as a further challenge to security but an opportunity to revitalize and improve a company’s defenses dramatically.
Study Finds Fort Worth Basin Wastewater Injection Increases Fault-Slip Potential
Researchers mapped 251 faults in the North Texas home of the Barnett Shale, the birthplace of the shale revolution, finding that wastewater injection there “significantly increases the likelihood for faults to slip.”
Whiting Petroleum Slashes Workforce By a Third
The Bakken and Niobrara operator will eliminate 254 jobs in an effort “to better align [its] business with the current operating environment.”
Built on Several New Tools, Marathon’s Digital Oilfield is Maturing
Marathon Oil says its shale fields are producing more oil and gas with less hands-on work from company personnel thanks to a growing arsenal of digital technologies and workflows.
Real-Time Analytics Improves Process Safety in a Drilling-Contractor Operations Center
This paper explains how an ultradeepwater drilling contractor is applying real-time analytics and machine learning to leverage its real-time operations center to improve process safety and performance.
Shale CEO on Parent-Child Challenge, Well Declines: We Know
Encana CEO Doug Suttles assures that shale executives are acutely aware of the parent-child well challenge, and he doesn’t think it’s “a big threat” to the sector.
What Happens When Facebook Technology Meets Oil Well Records
The same tools that make it fun and easy for you to see a friend's updates online are also pretty good at tying together unconnected databases holding valuable well information.
Better Safety Performance Measures Can Lead to Change by Improving Conversations
This paper examines the use of injury rates as a key performance indicator (KPI). It argues that, as a KPI, injury-frequency rate is no longer a valid measure.</p>
Fed Reserve Bank: Higher Oil Price Needed To Increase Drilling Operations
Energy activity has shown solid expansion, but to increase drilling, companies need a higher average oil price compared to last year’s surveys, reflecting a steady increase since 2Q and 4Q in 2017. The ability to find workers and limited pipeline capacity could limit near-term growth.
How Do Oil and Gas Investors Pick Entrepreneurs? Vice Versa?
Oil and gas entrepreneurs need more than just a brilliant idea to attract investment, and investors have to offer more than just money.
Total Prepares Exit from Big Iran Project as US Sanctions Renewed
The US re-imposing sanctions on Iran has prompted Total to consider dropping its stake in a project designed to bolster output from the world’s largest gas field.
Developing an Influx-Management Envelope for a Deepwater MPD Operation
The influx-management-envelope (IME) concept is an advanced, innovative way to assess influx conditions in managed-pressure-drilling (MPD) operations, offering an improved tool for the decision-making process.
Industry Q&A: Physics-Based Reservoir Simulation for Enhanced Data Analysis and Risk Evaluation
Indy Chakrabarti, senior vice president of product management and strategy at Emerson Automation Solutions talks about developments in software solutions for the oil and gas industry.
Eliminate Decision Bias in Facilities Planning
The complete paper holds that traditional facilities-planning methodologies, heavily based on design-basis documents and biased toward the most-conservative conditions, fail to recognize the entirety of operational conditions throughout the oilfield life cycle.
FBI Expert: Companies are Cyber-Threat Targets Whether They Think So or Not
A computer scientist with the US Federal Bureau of Investigation says that oil and gas companies must do more to protect themselves from cyberattacks.
Oil and Gas Cybersecurity Conference Yields New Insights
Operators, vendors, academics, and government officials offered an abundance of views and recommendations on cyber-threats to the industry during the American Petroleum Institute’s recent Cybersecurity Conference.
Optimization and Analytics Proving Vital in Everyday Operations
At a recent global meeting of operations research and management sciences professionals in Houston, an ExxonMobil research executive stressed the importance of optimization and data analytics to company operations.
Integrated Simulation Increases Efficiency of Deepwater Risk Management
In an effort to better understand well issues, a global offshore drilling contractor created a program of fully integrated deepwater-DP-drilling simulation exercises to scrutinize all critical aspects of deepwater well-control operations.
Company’s Integrated Approach Tackles Fatigue Management
This paper describes the integrated approach taken by Petronas to reinforce effective management of fatigue.
ADNOC Case Studies Illustrate Importance of Technology Qualification Process
ADNOC’s authority on technology maturity describes the case studies used to test the company’s new technology qualification process.
Company Integrates Human Factors Into Corporate Well-Control Manual
Many of the worst oilfield incidents have been attributable to human factors. Consequently, a corporate well-control manual was refreshed to include human factors in the management of well-control incidents.
These Are the Forks in the Road to Drilling Automation
Along its journey to full-automation, the US drilling sector is facing a series of important crossroads that will determine what the so-called “rig of the future” really will be.
Want To Make Deepwater More Profitable? Shell Says Listen to the Facility Staff
One of the oldest deepwater platforms in the Gulf of Mexico has become a profit-leader for the oil major during this downturn and is now a model for the company’s other floating assets.
For Pemex, Partnerships and Profitability Are The New Focus
The new CEO of Pemex outlined his plan to reverse the state-owned company’s struggling financial and production situation.
Industry Perspectives Vary on Implementing Effective Social Performance
Social responsibility has become a common term but what defines “social performance?” In a globalized economy, with multinational corporate and state actors having a more immediate effect on individual lives than ever before, social performance initiatives should not be viewed as an expendable cost.
Oil and Gas Producers Find Frac Hits in Shale Wells a Major Challenge
In North America’s most active shale fields, the drilling and hydraulic fracturing of new wells is directly placing older adjacent wells at risk of suffering a premature decline in oil and gas production.
Shell CEO Ben van Beurden To Speak at SPE Offshore Europe 2017
Royal Dutch Shell CEO Ben van Beurden is to speak at the opening plenary session at SPE Offshore Europe 2017, which is being held in Aberdeen from 5–8 September.
CERAWeek: Pumping the Brakes on Electric Vehicle Uptake
If a boom in electric vehicle sales takes place, a group of auto experts suggest it would represent a larger immediate threat to electricity supply than it would to oil demand.
President's Column: Talent Everywhere
SPE President Janeen Judah writes, "When the upturn occurs—and it will happen—are we ready to move forward with a next-generation workforce?"
SPE Offshore Europe: BP CEO Bob Dudley to Lead Opening Plenary
CEO Bob Dudley, who calls BP’s UK North Sea business one of its “crown jewels”, will address hundreds of delegates at the opening plenary session at Europe’s foremost exploration and production technical conference and exhibition.
Risk-Based Abandonment-Prioritization Strategy for Inactive Subsea Wells
This paper describes how an exploration-and-production company successfully developed and applied a qualitative risk-based abandonment-prioritization strategy for an inventory of inactive subsea wells.
Unconventional Risk and Uncertainty: What Does Success Look Like?
This paper presents approaches for proper risking of uncertain recoverable volumes for an unconventional resource, taking into account the chance of false positives from appraisal-well information.
Risk Management at NASA and Its Applicability to the Oil and Gas Industry
At NASA, the qualitative approach to risk assessment is augmented by a quantitative technique to mitigate low-probability, high-consequence outcomes.
Low Prices Trigger Much-Needed Change Through a Holistic Approach
A reason why projects are not completed on time is the disconnect between operators and contractors. An integrated asset approach tackles complex offshore jobs by being holistic and full field in nature and encompassing the planning, building, and operating phases of a project.
The Influence of Communication About Safety Measures on Risk-Taking Behavior
Risk-taking behavior is an important contributing human factor to incidents and is notoriously difficult to influence. This study examined how safety measures and uncertainty affected the risk-taking behavior of participants.
Service Company Explores Pathways To Make Driving Inherently Safer
This paper explores whether factors other than the driver can be influenced to increase overall driving safety. This is an application of the risk management approach of using fundamental design and layout to reducing the likelihood and severity of incidents.
Operational Risk: Stepping Beyond Bow Ties
This paper presents a multiple-physical-barrier (MPB) approach to operational risk management by focusing on physical barriers and success paths that enable each barrier to perform its safety functions.
Seismic Shifts in Oklahoma Lead to Stricter Regulations
Industry regulators in Oklahoma have rolled out broad new restrictions on more than 600 disposal wells as part of the largest action of its kind taken in response to earthquakes.
Management: Managing Project Uncertainty: The Delphi Method
Decision making in uncertain environments is key to the successful delivery of oil and gas projects. By definition, however, uncertainty is ambiguous and unpredictable.
Industrial-Sized Cyber Attacks Threaten the Upstream Sector
Cyber threats have expanded beyond data breaches and the theft of intellectual property. Drilling and production assets are at risk of being disrupted or destroyed due to vulnerable control systems.
Understanding Uncertainty and Risk in Capital Projects
Speakers at the recent SPE Asia Pacific Unconventional Resources Conference and Exhibition addressed the role of uncertainty and risk in sanctioning megaprojects.
Method for Adaptive Optimization of EOR Performance Under Uncertainty
The authors present a method to reduce uncertainty in EOR performance adaptively while identifying an optimal operational strategy for a given tolerance to risk.
Enhancing Well-Work Efficiency With Data Mining and Predictive Analytics
Failure to prioritize objectives and improper selection of candidate wells can have significant implications for both derived value and potential risk.
Do Data-Mining Methods Matter? A Wolfcamp Shale Case Study
Data mining for production optimization in unconventional reservoirs brings together data from multiple sources with varying levels of aggregation, detail, and quality.
Data Management and Communication
Many business and digital corporations claim that between 100 billion and 200 billion devices could be connected by 2020.
Data-Driven Production-Impact Assessment During Unplanned Facility-System Events
A data-driven approach to successfully analyze and evaluate production-fluid impact during facility system divert events is presented. The work flow effectively identifies opportunities for prompt event mitigation and system optimization.
Limiter Redesign Process Expands To Cover Flat-Time Operations
The Fast Drill Process has become a well-known work flow to identify hole-making limiters and mitigate them through redesign to the economic limit of performance.
Comparison of North American and International Risks in Unconventional Plays
Unconventional resources include coalbed methane, tight gas, and source-rock-based (often shale-based) reservoirs.
Searching for Solutions to Induced Seismicity
A sharp rise in seismic events in some areas of the United States where oil and gas production is booming is leading regulators and the industry to examine whether the two are related.
Inherent Flaws in Risk Matrices May Preclude Them From Being Best Practices
This paper illustrates and discusses inherent flaws in RMs and their potential effect on risk prioritization and mitigation, addressing several previously undocumented RM flaws.
Program Ranks Musculoskeletal Risk of Operating Valves in Process Industries
Every process plant presents a high number and diversity of valves that control the flow of feedstock, products, and service liquids and gases.
Recommended Practice for Reliability, Technical Risk, and Integrity Management
This paper presents the principles and approaches used in API RP 17N, and discusses what it is in general and why it was written. It also describes the status of its recent update.
Control-System Cybersecurity: Staying Ahead of Evolving Threats
The benefits of modern industrial control systems have never been greater. A baseline system security image, as a start, allows a vessel owner or operator to understand the security risks.
US Offshore Regulator to Focus More on Technology
The United States’ top offshore regulator said his agency is adopting new policies and measures to improve its working relationship with the offshore industry.
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15 September 2020
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15 September 2020