ConocoPhillips Promises Big Changes as It Acquires Concho in $9.7-Billion Deal
ConocoPhillips promised more than just growth and costs savings when it announced a deal to acquire Concho.
Normalized Cumulative Production Curves Estimate Ultimate Recovery
The complete paper discusses the use of cumulative production ratio curves normalized to a given reference volume in time for different unconventional plays in North America to investigate the median trend for each play and the median ultimate recovery per play.
ExxonMobil, Pioneer Propose A Methane Monitoring Network For Texas Oil Fields
Tracking down fugitive emissions has traditionally relied on small-scale detection efforts. This new project seeks to buck the trend by covering the Permian Basin with sensors.
The US Upstream Cementing Market Feels the Full Force of the Effects of COVID-19
The cementing services market size in the US is expected to drop 50% year-on-year from 2019. The significant drop in Permian Basin activity will account for 40% of the total market size reduction.
Permian Completions Activity Falling Fast, But Not Evenly
While many shale producers are racing to cut costs by removing crews from the field, ExxonMobil and Chevron stood out as maintaining large numbers of fracturing crews.
Further Cuts Announced Due to Low Oil Price, Supply/Demand Imbalance
ExxonMobil and Halliburton made additional cuts in spending and personnel.
Prescriptive Analytics Aids Completion Optimization in Unconventionals
This paper discusses a prescriptive analytics framework to optimize completions in the Permian Basin.
WPX Buys Private Permian Player Felix Energy for $2.5 Billion
The latest move to consolidate the US shale sector will add 1,500 drilling locations to the buyer's portfolio. It also reflects that all-stock or mostly-stock deals are now the sector’s preferred acquisition vehicle.
Permian Basin Decline Rates Have “Increased Dramatically” Amid Ongoing Slowdown
A new report says that production growth in the world’s most prolific unconventional basin is on the verge of stalling out.
Enverus Forecasts “Significant Slowdown” in US Gas Output Growth in 2020
The data analytics firm projects US dry gas output growth will shrink to 2 Bcf/D next year from 8–9 Bcf/D in 2018 and 2019.
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.
UT Study: Permian Seismic Activity Up Dramatically
New research links a rise in seismic activity in West Texas with increased oil and gas development over the past 20 years and, in particular, the past decade.
More Permian Consolidation: Parsley Energy To Buy Jagged Peak
The move will bolster Austin-based Parsley’s holdings in the Delaware Basin, giving it a contiguous 120,000 net acres opposite of its original Midland Basin focus area.
Oxy Starts Up Solar Facility To Power Permian EOR
The 16-MW solar facility in Ector County, Texas, near Odessa, powers the Goldsmith field through deployment of 174,000 photovoltaic panels.
EIA: US Crude Production Fell for Third Straight Month in July
Output fell below 12 million B/D and was down more than 300,000 B/D from an all-time high in April, according to data from the US Energy Information Administration.
Dallas Fed Survey: Oilfield Service Woes Fuel 3Q Upstream Industry Contraction
Lower equipment utilization and prices have worsened the pain for oilfield service companies in Texas, New Mexico, and Louisiana, while operators continue to grapple with the industry’s shifting business climate.
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.
Rystad Says Permian Well Productivity is Just Fine
Despite reports to the contrary, Permian well productivity remains healthy, with average new production per well in the basin matching all-time highs, Rystad says. And the majors are now a main catalyst.
Analytics Firm: Permian Fracturing Work Underreported by 21% in 2018
Findings from Kayrros suggest the average Permian well is both less productive and more expensive than reflected in public data.
Permian Operators Collaborate to Improve Understanding and Performance of Unconventional Reservoirs
Permian Basin operators and service companies met to discuss completions diagnostics, flowback strategies, water management, and artificial lift strategies.
Shale Consolidation: Callon Acquiring Carrizo in $3.2 Billion Stock Deal
The combined company will produce more than 100,000 BOE/D from the Permian Basin and Eagle Ford Shale and is switching its focus to “mega-pad” developments.
Permian Basin Frac Hit Notification System Under New Management
First developed as a proprietary system by a large Permian Basin operator, this hydraulic fracturing schedule exchange will be run by a data company and opened up to the entire North American shale sector.
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.
Chinese-Owned Operator Claims Longest Permian Lateral
Houston-based Surge Energy drilled the Medusa Unit C 28-09 3AH well in the Midland Basin to a TMD of 24,592 ft, with a total horizontal displacement of 17,935 ft, or 3.4 miles.
Ghawar vs. Permian Basin: Is There Even a Comparison?
While some try to put the two enormous oil producers toe-to-toe, the best thing to do might be to understand why they are different.
ExxonMobil, Chevron Target Nearly 2 Million BOE/D in Permian Production
The US majors plan to produce around 1 million BOE/D each from the basin, which has become a primary focus of their upstream operations.
Noble Energy Touts Output Gains, Potential From “Row Development” Concept
Noble’s first row of wells in its massive Mustang project is helping increase the operator’s DJ Basin output, and similar results are soon expected in the Delaware Basin.
Oil Prices Take a 2014-Size Hit
Oil prices have fallen since early October in lockstep with the plunge in 2014. But this time oil companies appear better able to deal with a tough situation.
Shale’s Big Sand Switch Is Delivering Dollars, but Not Eroding All Concerns
Producers in Texas have claimed an economic victory with their transition to local sands that they once avoided using in horizontal wells due to their low-quality.
Big Year for Shale M&A May End with Shell and Endeavor
2018 has seen a wave of shale deals that are consolidating the landscape. While this one could be among the biggest, it is not yet final.
Led by Frac, The Oilfield Services Space Could Get Interesting in 2019
Slumping oil prices may throw a wrench into a positive outlook for the global oilfield services and equipment industry. Even if prices rebound, complications in the US fracturing market—and elsewhere—are expected to persist.
USGS’s Largest-Ever Assessment of Continuous Oil Potential: Permian’s Wolfcamp-Bone Spring
Production and proved reserves in the Permian Basin’s Wolfcamp Shale and Bone Spring Formation are reaching new heights, and a new assessment from the US Geological Survey indicates the industry is just scratching the subsurface when it comes to what may be technically recoverable.
Permian Pulse: Using Satellite Imagery Analytics To Track the World’s Busiest Oil Play
Companies are bringing satellite monitoring to the unconventional oilfield—namely the Permian Basin—where they are training machine learning models to track and predict drilling and completions work.
US Oil, Gas Reserves Hit All-Time Highs
Proved oil and gas reserves in the US have spiked to levels not seen before, the EIA reports, and one of the main drivers is the Permian’s Wolfcamp-Bone Spring Shale.
BP’s Lower 48 Unit Becomes BPX Energy
The rebrand follows the completion of BP’s $10.5-billion purchase of BHP’s assets in the Permian, Eagle Ford, and Haynesville.
Liquids-Rich Permian Showcased as a Model Basin
The SPE Liquids-Rich Basin Conference in Midland, Texas, merged topics that have dominated recent industry discussions: technologies centered on big data, interwell communication, and Permian Basin production.
Schlumberger and Halliburton Warm on Global Market, Cooler on US Shale
The two biggest oilfield services providers are enjoying a rebound in international activity but continue to struggle with a softening US shale completions market. While takeaway constraints will be temporary, steep shale production declines may emerge as a longer-term challenge.
Four Charts That Show DUCs Are Soaring in US Shale Fields
There is no single reason that they all exist—and bringing them all on line will face challenges.
In the Battle Against Frac Hits, Shale Producers Go to New Extremes
The rise of cube developments in the Permian Basin has introduced a new way of thinking for some of the region’s biggest players.
Oil Prices Set To Rise This Year, Then Fall Back
Supply growth into next year is projected to outpace global demand, bringing markets once again into a state of relative imbalance.
Horizontal Shale Well EUR Determination Focused on the Permian Basin: An Integrated Method
Big-data mining techniques can help determe the type-curves and the resulting estimated ultimate recovery of an asset being evaluated for acquisition.
ExxonMobil Plans to Triple Permian Output
The Irving, Texas-based supermajor plans to cash in on its expanded foothold in the Permian Basin, aided by a big reduction in the US corporate tax rate.
Don’t Kill the Chickens, Build Community Consensus
We hear the term “social license” a lot. We have created a new term that people can hide behind and debate endlessly. I believe that we need to take it to the broader level and rethink how we do our work and achieve "community consensus."
Unconventional Resources: Three Alternative Paths To Maximizing Unconventional Resources
As well-developed shale plays and tight formations mature and decline in production, nontraditional strategies for maximizing production and discovering new resources must be considered.
Permian-Focused Independent Looking for Deals
Avoiding debt problems and maintaining high-quality operations have kept Frank Lodzinski’s companies going through thick and thin.
Going Deep: Is Deepwater Experiencing a Resurgence?
Saudi Arabia, the Permian Basin, and global deepwater areas have vastly different futures predicted. Is it time for a deepwater renaissance?
H2O Midstream-Encana Deal Highlights Water Management Role in US Shale
In a recent acquisition, H2O Midstream will own and operate Encana’s produced-water gathering system in Howard County, Texas, and will expand it to also serve third parties.
CERAWeek: New ExxonMobil CEO Addresses Carbon Reduction, Expresses Optimism On US Gulf Coast Downstream
The new head of ExxonMobil used his first major public appearance to emphasize the major oil company's committment to environmental concerns through the development of emerging technologies.
Independent Shale Producer is Driving Permian Well Improvements with Clean Sweeps
Permian Basin producer Callon Petroleum is attributing its data-driven approach to a routine completions practice to improved proppant placement and higher oil production.
New Numbers Highlight Permian Bonanza
This week the US Geological Survey (USGS) reported that the Wolfcamp shale holds 20 billion bbl of technically recoverable oil. This builds on other active formations in the Permian Basin, where nearly half of US active rigs are operating.
Shift Toward Permian Drives Rising Rig Count
The US rig count has inched up recently, and the driver has been the old reliable of onshore oil production, the Permian Basin. With surging production, the Permian is the only major US oil shale play to grow since crude prices began to fall.
Permian Basin Fracturing Systems Using Produced Water
This paper details the experience of using new stabilized crosslinked-fracturing-fluid systems in the Permian Basin using borated produced water.
Going Underbalanced in Unconventional Reservoirs
For the past quarter of a century, underbalanced drilling (UBD) has been a niche technology known to many and practiced by few. It has seen acceptance in the North Sea, where UBD is used to drill through depleted reservoirs.
As Scarcity Hits, Water Tech Flows In
As Scarcity Hits, Water Tech Flows In Over the next few years, water treatment technologies are expected to continue to be deployed in the basin, as drought drives aquifer levels to new lows.
Cracking the Cline: A New Shale Play Develops in the Permian Basin
Early in its development, the Cline shale was hyped as the next Eagle Ford or Bakken with more oil and gas than they have combined.
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19 October 2020
26 October 2020