As Upstream Investments Plunge, Risk of A Market Swing Rises
A new report from the IEA forecasts the global oil and gas industry will suffer a $1-trillion loss in revenue as a global pandemic saps demand and crushes prices. It might also set the stage for a price swing in the next few years.
Electric Frac Fleets Rise From 3% to 30% of US Shale Market Amid Diesel Drop
Though they have been a niche ever since their introduction to the market a few years ago, e-fleets are proving to be some of the most downturn-proof assets in the shale sector.
Interview With George King: Better Practices for Well Shut In and Startup
The industry has very limited experience in shuttering production on a large scale in unconventional reservoirs. Many questions remain on how stimulated, nanodarcy shale reservoirs may respond. George King discusses the paradigm shifts needed in the industry.
The Great Shale Shut-In: Uncharted Territory for Technical Experts
As tight-oil producers move to curtail production, hard-to-answer questions are being raised about how shuttered wells will come back. The issue reveals key uncertainties about the delicate flow paths that define unconventional reservoirs.
Managing Risk and Reducing Damage From Well Shut-Ins
A technical synopsis of major considerations for unconventional wells facing prolonged shut-ins. The review includes deciding factors for kill fluid selection and risks of incompatible fluid mixing.
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.
Whiting Files for Bankruptcy
The Denver-based shale producer is the first to cite the ongoing price war and COVID-19 pandemic as the triggers for its insolvency.
Sealed Wellbores and the Unlikely “Breakthrough” Behind Cheap, Accurate Fracture Diagnostics
When engineers went searching for clues on how fractures move beneath the surface, they expected to uncover important learnings. They did not know they were on the path to a new invention.
Chevron Hits the Brakes on Permian, Cuts $8 Billion Across Company
The international major has lowered its output forecast in the world’s most prolific unconventional basin by 20%.
Record US Production Topped 12 Million B/D in 2019, Will Climb Slower This Year
Led by Texas and New Mexico, year-over-year crude output jumped by 11% according to the US Energy Information Administration. Going forward, new records will be set but at a slower pace.
Saudi Aramco Set To Make $110-Billion Investment in Tight Gas
The first of three major unconventional developments in Saudi Arabia has been given the green light. The project will underpin the country's goal to become a top gas exporter by 2030.
Enverus Acquires RS Energy Group and Q Engineering
The provider of subscription-based analytics services for the North American oil and gas sector continues its streak of purchasing data-focused firms.
Why Shell Drilled a “Horseshoe” Well in the Permian Basin
Sometimes problems turn out to be an opportunity to try something new. In this case, the result was a well design unlike anything most in the shale sector have seen before.
Shale Producer Partners with Analytics Firm To Stop Overbilling and Fraud
Concho Resources and Enverus say turning to automated software for tracking invoices could save the upstream business many millions of dollars.
Schlumberger, Halliburton Downsize Fracturing Services Amid Shale Sector’s “Biggest Test”
The two oilfield service leaders serve as critical bellwethers for the health of North America’s upstream sector, which is under pressure to consolidate and generate free cash flow.
The Top Stories of 2019
The most read stories reflect interest in the digital transformation, the energy transition, and shale operations.
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.
OPEC Expects To Shrink Supplies Until US Shale Peaks
The 2019 World Oil Outlook projects tight-oil supplies to rise to at least 75% of total US production before retreating.
Encana Sheds Canadian Roots To Become US Company With A New Name
The large independent says while it is proud of its origins and history, it must make a move to attract new investment and be seen more as an oil producer than a gas producer.
Flowing Shale Wells Sooner Would Add Billions to Sector Cash Flow
The time it takes for a shale producer to drill a well has been a major focus for the past decade. A new report says the industry should place equal weight on how long it takes a well to actually deliver first oil.
Report: “Simple” Well Spacing Calculations Are Inaccurate and Costly
Figuring out how far apart to place horizontal wellbores remains one of the biggest challenges facing the future of the shale revolution. One roadblock appears to be the way in which the sector has traditionally measured these distances.
Summer of Funding: These Oil and Gas Startups Raised More Than $70 Million
Technology startups are breathing new life into an old industry with advanced software and emerging chemistry solutions. Learn about some of the names earning the most attention from the industry's venture capital groups.
Supply Shock: Reactions to the Attack on Saudi Oil Facilities
Oil prices rose on the news that Saudi Arabian production was disrupted by aerial attacks. The massive outage might may boost US exports to new highs.
Shale Sector’s Switch to Slickwater Highlights Compatibility Issues with Produced Water
Not all friction reducers are created equal. With dozens of varieties on the market, industry research suggests that oil and gas companies be choosy.
To “Right Size” Fractures, Producers Adopt Robust Monitoring and Custom Completions
If you can see it, then maybe you can control it. This sums up the latest quest that the unconventional engineering community embarked upon to get a better understanding of proper well spacing and how fractures really interact.
Engineers Get a Look at Oilfield Advances at URTeC While Grappling With the Pressing Problem of Profitability
The Unconventional Resources Technology Conference is like visiting an oilfield theme park for engineers and geoscientists. This year those traveling to the conference for a glimpse of what is possible in exploration and production will also focus on ways to improve short-term profitability.
US Crude Production Tops 12 Million B/D in April
The new milestone was reached less than a year after the country surpassed 11 million B/D last summer, and is driven by activity in the Permian Basin and new fields in the Gulf of Mexico.
US Leads World in Oil Reserves
Ranking places US ahead of Saudi Arabia and Russia.
New Merger to Create Third-Largest US Pressure Pumper
As the hydraulic fracturing market faces pressure to lower costs, Keane Group and C&J Energy Services announce they will combine their businesses.
Canadian Oil Business Gets More Canadian as Devon Exits
Devon Energy and its debt gets smaller, as Canadian Natural Resources adds to its huge, long-term bet on Canadian heavy and ultra-heavy crude.
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.
Shale Executives Address Investor Concerns Over Production, Frac Hits, Up-Spacing
The technical challenges imposed by tight well spacing and fracture interactions have become a focal point of recent earnings calls between investors and the leaders of several shale producers. The picture of the future is becoming clearer, and there are fewer oil wells in it.
US Shale To Drill And Complete 20,000 Wells This Year
A new report expects US producers to drill their highest number of wells since 2014, and that completion activity may exceed drilling for the first time since 2016.
Reservoir-on-a-Chip Technology Opens a New Window Into Oilfield Chemistry
An oil and gas startup has attracted the business with a major operator thanks to its ability to forecast whether production-enhancing chemicals will work as advertised.
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.
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.
Halliburton Aims For Better Wells With Automated Fracturing
The pressure pumping giant turns to algorithms to get better fractures and fewer problems.
Can You Measure Reservoir Depletion While Drilling?
Shale explorers run very few logs into horizontal wells, making it difficult to understand the effects of reservoir depletion in tightly spaced wells. This new technology is trying to change that.
Innovative Pressure Map Offers Insights on Frac Hits
Well-interference issues can be hard to diagnose, but this startup may be figuring that out. The data-driven process it developed can also help operators come up with more effective ways to use diverters.
Rapid Evaluation of Development Ideas Has Engineers Thinking: What If?
A software program has evolved from predicting future well output to showing engineers the many ways their ideas could affect asset performance.
Shale Output Redefining US Production
US oil production is getting lighter and gas production is spreading as unconventional formations feed export growth.
IEA Sees No End to US Shale Output Surge
The scheme by OPEC and non-OPEC producers to collectively curb oil production has brought stability to the global market—which, as a result, could soon be awash in “a second wave” of US shale output growth.
Innovation Will Drive Shale Survival
How can operators and service companies go forward in a shale-dominated industry with low oil prices?
3D Full-Field and Pad Geomechanics Models Aid Shale Gas Field Development in China
The oilfield-development plan (ODP) for a shale gas field at the southern edge of the Sichuan Basin in China started in early 2014.
Energy Panel: Efficiency Focus Still Necessary in an Era of Transition
Despite optimism in a shift from “lower for longer” oil prices, industry executives stressed the value of maintaining efficient operating practices.
Integrated Completion Sensitivities for Horizontal-Well Design in the Vaca Muerta
The boom in organic shale plays has revealed the critical need to size hydraulic-facture treatments correctly to achieve commercial success.
BHP Billiton Plans To Divest US Onshore Assets
BHP Billiton plans to divest its US onshore assets. The company will continue to complete well trials, acreage swaps, and look into midstream solutions to increase the value, profitability, and marketability of the assets.
Natural Fractures Add Little to Shale Gas Reservoir Productivity
Senior Research Scientist and SPE Distinguished Lecturer Ian Walton uses a semianalytic shale gas production model to show that natural fractures, contrary to the intuitive beliefs of many, do not contribute significantly to production.
IEA: US May Be Top LNG Exporter by 2022
One of the world’s leading energy watchers says the second shale revolution will come in the form of LNG exports.
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.
Steerable-Drilling-Liner Technology in Unstable Shale
Challenging environments such as unstable clay formations represent high operational risk when running tubulars after drilling is completed.
Conditioning Mature Vertical Wells To Stimulate and Test Shale Productivity
One of the most promising targets for resource-rock stimulation in South America is the Vaca Muerta (VM) shale in western Argentina.
Shale Industry Needs to Look Within for Solutions That Save
At the recent 2015 Unconventional Resources Technology Conference, a major theme was how companies can improve performance without increasing the size of their budget.
Refracturing With Expandable Steel: A Stronger Alternative to Chemical Diverters?
Enventure Global Technology is working to convince operators that its solid expandable steel liners perform better than chemical diverter agents for refracturing operations. Its technology is called the ESeal ReFrac Liner.
Oil Price Plunge Requires Revised Completion Methods
In this cost-cutting market environment, completion engineers face added pressure to maximize the return on every dollar invested when putting unconventional wells into production.
Effects of Infill- and Offset-Drilling Patterns on Field Development for Shale Wells
In this paper, the effect of timing and pattern of well placement on NPV is studied. Three scenarios were evaluated.
Thermoelectric Nanomaterial Improves Shale Stability
Large amounts of clay minerals are present in shale; shale’s resulting instability is a major problem while drilling.
Combined Geostatistics and Bayesian Updating Optimize Drilling in Shale-Gas Plays
The development of an economically efficient drilling program in shale-gas plays is a challenging task, requiring a large number of wells; even with many wells, the average well production and the variation of well performance (economics) remain highly uncertain.
Factors Critical to Multiwell Reservoir Simulation of Liquids-Rich Shale Plays
Multiwell modeling of shale plays is not performed frequently. In projects in which a main objective is well spacing or completion optimization, a comprehensive multiwell reservoir-simulation study is required.
A Critical View of the Current State of Reservoir Modeling of Shale Assets
This article reviews methods used to understand the complexities associated with production from shale.
Molecular Simulation Helps Determine Key Shale-Gas Parameters
Shale gas is fast becoming a source of energy of paramount significance for the coming years. Although commercial production has been achieved in numerous plays throughout the world, the actual physics involved is poorly understood.
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20 May 2020