Finding Oil Is Really Hard, Making Money Even Harder
Putting together the billions of dollars needed to develop deepwater finds has become tougher, but when the discoveries are huge, companies will make every effort to find a way to tap what may be a cheap source of oil.
SPE Broadcasts First Editorial Roundtable Through LinkedIn Live
SPE's first live editorial roundtable discussion covered latest news and new technologies.
ExxonMobil Field Tests New Methane Leak Detection Systems
As studies point to increased emissions, ExxonMobil is stepping up efforts to detect and mitigate methane release.
Equinor, Total, Aker Launch Subsea CO2 Injection R&D Project
Before the dream of a “subsea factory” can come true, a group of North Sea companies will need to see if the required technology is economically feasible to build.
Dominican Republic’s Offshore Future Begins With First Bid Round
The Caribbean nation hopes the auction will lead to at least two exploration projects in a region that has become increasingly attractive thanks to new discoveries and investments made in neighboring countries.
Hurricane Hits First Oil From Basement Reservoir in North Sea
This new development is the first to recover commercial quantities of oil in the UK from reservoirs that are generally considered non-productive.
Idle Drilling Rigs Actually Require a Lot of Work
When a rig is stacked, its owner has two choices: spend millions to keep it in good shape, or let it rust out. These two companies describe what it is like to maintain their assets for the day that a contract comes.
Mature Fractured Reservoirs Can Be Repurposed for Gas Storage
This paper discusses studies conducted on two California offshore fields that may be abandoned in the near future. These studies examined the feasibility of repurposing these fields for offshore gas storage by using their reservoir voidage and existing pipeline facilities.
Global Oilfield Services Market Won’t Recover Until 2025
The financial effects of the downturn are set to last at least a decade—which puts the industry almost at the halfway point. This is according to a new report that says the FPSO market is the most “unscathed” of all the service segments.
Survey Points to Bullish Outlook for 2019, With Some Caveats
Industry confidence is on the rise, and so is capital spending, according to DNV’s 2019 annual outlook.
Odds on the World vs. Permian Fight Are Narrowing
While US onshore still holds an edge, international oil companies are finding attractive options for diversifying their portfolios, mixing onshore with offshore conventional fields, where finding and development costs are down , and the time it takes to bring them on line.
Norwegian Firm Adds Smarts to Offshore Coring
Coring is essential to offshore exploration programs—but sometimes cores are taken from the wrong formation or return to surface in poor condition. One firm thinks it can solve these costly issues with a first-of-a-kind coring device that uses logging instruments that add accuracy and integrity.
ExxonMobil Exits Russian Ventures, Continues Success off Guyana
The US supermajor continues to evolve its global strategy by pulling out of once-promising Russian partnerships and adding to its offshore Guyana oil drilling bounty.
Exploration Must Meet Tough Value Criteria
The chief upstream strategist of IHS Markit said in a recent presentation that oil exploration must improve its ability to deliver value and better communicate that value to the financial community. New ways of thinking about exploration opportunities are needed.
OTC Names Best New Offshore Technologies
The Offshore Technology Conference has announced the winners of the 2018 Spotlight on New Technology Award, recognizing excellence in offshore E&P.
Prestigious Offshore Achievement Finalists Named
SPE’s Aberdeen section has chosen the finalists for this year’s Offshore Achievement Awards, which will take place 22 March at the Aberdeen Exhibition and Conference Centre.
Statoil Plans Leaner, $6-Billion Arctic Project
Statoil has submitted a long-awaited development plan for what will become Norway’s northernmost development.
Joint Venture Hits Historic Mexico Oil Discovery
A major offshore discovery led by Talos Energy is the first successful wildcat well drilled by a private company in Mexico in almost 80 years and a milestone for the country’s recently enacted energy reform.
Offshore Drilling Market: Recovery by 2020s?
An analyst from Rystad looks at the state of the offshore drilling market and the likelihood of recovery by 2021.
First Offshore Drilling Merger: Ensco Buys Atwood Oceanics
The offshore drilling sector has taken a step towards consolidating an oversupplied market and Ensco will emerge from this most recent deal as the owner of the largest combined fleet of floaters and jackups.
Zinke Pushes for Review of Interior and Regulations at OTC
Secretary of the Interior Ryan Zinke praised America’s resource potential and regulatory framework at OTC. He also laid out his plan to review the department and signed two secretarial orders.
Permanently Plugging Deepwater Wells Challenges Standard Operating Procedures
Well plugging and abandoning on a limited budget is a lofty goal that forces the industry to consider new ways and new materials. Cost-effectively dealing with this global problem will require developing tools to carry out the decommissioning without bringing in a drilling rig.
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20 May 2020