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.
ConocoPhillips Leaning on Conventionals Near-Term, Unconventionals Long-Term
Most of ConocoPhillips’ oil and gas production by the end of the next decade will come from its unconventional operations. But, for the near-term, the Houston independent will rely on conventional assets as it seeks to keep spending in check, decline rates low, and cash flow on the rise.
ConocoPhillips Unveils 10-Year Operating, Financial Plan
The plan targets some $50 billion in free cash flow over the period while growing production more than 3%/year.
Louisiana Austin Chalk: Hundreds of Millions Down the Drain?
ConocoPhillips has pulled out of the much-hyped Louisiana Austin Chalk play after the company’s test wells yielded a gusher of water. Meanwhile, an Australian operator flying under the radar continues to pursue the adjacent-but-even-more-challenging Tuscaloosa Marine Shale.
Oilfield Flares Provide a Glaring Reminder of the Drive To Produce More Oil
Oilfield flares are a bright indicator of rapidly rising oil production that exceeds pipeline capacity. And it raises the question: Why are oil companies in such a hurry?
Looking for Fracturing Sand That Is Cheap and Local
The very first fracturing job used sand scooped from a nearby river. After decades of buying sand based on tight size standards, unconventional operators are increasingly going back to a broad range of sizes, similar to that river sand.
ConocoPhillips to Exit UK E&P Business in $2.7-Billion Sale
With the purchase, the growing, privately-held Chrysaor Holdings will expand its UK North Sea production to 185,000 BOE/D.
Imaging Fracturing’s Unexpected Changes
Pictures shot in fractured wells show how a high-pressure slurry of water and sand carves up the perforations.
One Industry of Global Citizens
An assortment of sustainability initiatives shows how the oil and gas industry, leveraging its reach, diversity, and resources, is going well beyond just supplying energy to impact the world for the better.
CNOOC, Several International Firms Sign Agreements for Areas Offshore China
Chevron, ConocoPhillips, Equinor, Shell, and Total are among nine firms looking to explore the Pearl River Mouth Basin.
So Many Wells, So Few Engineers—Scaling Production Engineering for All Those Shale Wells
Fast-declining, older, unconventional oil wells require artificial lift experts to deal with and explore a population of miles-long horizontal wells that do not follow the established rules of thumb.
New Modeling Code Sees Deep Inside Fractures, May Change Thinking on Well Spacing
Operators are working with a young startup company to overhaul how the unconventional sector has traditionally interpreted one the most common tests used to influence well completion designs.
ConocoPhillips Considering Sale of North Sea Assets?
The potential sale could net as much as $2 billion, depending on which assets were made available. The company has not launched a formal process but is said to be testing the waters, according to a new report by Reuters.
How ConocoPhillips Solved its Big Data Problem
Unconventional operators are finally beginning to use to their advantage the nearly endless stream of data they’ve collected over the years. ConocoPhillips explains how it has seen real improvements in its operations by removing data friction and opening up access across typical work silos.
How is Industry Finding the Next Generation of New Technologies?
The process of finding, developing, and testing new technology can be as complicated as the technology itself—especially at a time when operators have little tolerance for risk.
Based on the Rock in the Ground, Fracturing Looks Really Different
Widely held images of what happens when a well is fractured often bear little resemblance to what actually happens underground.
ConocoPhillips Brings Another North Slope Development on Production
ConocoPhillips is producing more oil from the North Slope as it advances development of the massive, historic region. The 1H NEWS viscous oil project is expected to flow 8,000 b/d at peak in 2018.
Tool Developed for Modeling Space Between Aquifers and Wells in Eagle Ford
A 3D conceptual model developed by ConocoPhillips helps to outline the company’s water usage for hydraulic fracturing operations in the Eagle Ford.
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20 May 2020