Life After 5: How Tight-Oil Wells Grow Old
Production data from the oldest horizontal wells in the three largest oil plays in the US show that annual decline rates remain relatively high for a long period of time. This challenges assumptions held about production after 5 years and directly affects reserve and ultimate recovery estimates.
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.
Dallas Fed: US Shale Boom Accounted for 10% of US GDP Growth
Researchers from the Federal Reserve Bank of Dallas quantified the economic impact of the US shale revolution for the first half of this decade.
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.
Hess Pilots Automated Drilling Rig in the Bakken
A pilot project carried out by Hess demonstrates how quickly automated drilling technology is able to take a rig from the bottom of the pack in terms of performance and push it to the top.
Unconventional Resources Will Require Unconventional EOR
The Bakken Petroleum System, which includes the Bakken and Three Forks shales in North America, is estimated to hold as much as 900 billion bbl of original oil in place.
Changing the Equation: Refracturing Shale Oil Wells
As shale operators look for ways to survive amid the current downturn in oil prices, accelerating the refracturing of older horizontal wells is turning into one of the most attractive options.
Williston Basin Reserves May Top 21 Billion Barrels, Peak Production in 6 to 7 Years
More than 21 billion bbl of light, sweet crude oil will be extracted over the lifetime of the Bakken and Three Forks shale plays, according to the latest projections from energy consultancy group Wood Mackenzie.
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20 May 2020