TOPICS OF INTEREST
Is It Time To Buy Oil Acreage? A $900-Million Deal Says Yes
At least one investment firm thinks there is money to be made in oil and gas operations and is putting up $900 million in equity to fund a startup by two veterans from Felix Energy.
UAE Boasts Significant Unconventional Reserves, Approves ADNOC’s 5-Year Budget of $122 Billion
The UAE produced 4 million B/D this year and is looking to these newly discovered resources to reach 5 million B/D by 2030.
Halliburton Commits to Lower Emissions
The oilfield service company said it expects to set emissions-reduction targets by next year to meet the goals of the Paris Accord.
NextTier and NOV Field Test Their First Electric Fracturing Fleet
Electrically powered completions equipment takes another step toward greater sector adoption with the announcement of this new agreement.
Oil Production Outlook Flatlines
The good news for next year is no one is predicting a repeat of what happened this year. The bad news is the outlooks offers little incentive to find any more oil.
DNV GL Launches Industry’s First Recommended Practice for Digital Twins
A systematic approach to ensure quality assurance is intended to build confidence and accelerate the uptake of digital twins.
IEA Releases Interactive Energy and Carbon Tracker
The new tool offers global insights for tracking the progress in the transition to low-carbon energy systems.
Oklahoma Natural Gas Producer Enters Restructuring
Gulfport Energy is seeking to eliminate more than $1 billion in debt and to cancel or renegotiate firm transportation contracts that it said drove it to enter bankruptcy protection.
Würth and Baker Hughes Collaborate To Expand 3D Printing Services
The expanded additive manufacturing services widen the companies’ targeted industries to include oil and gas, renewables, maritime, and aerospace.
Why Oxy’s Net-Zero Goal Carves an Entirely New Path
To reach their targets for carbon neutrality, many oil and gas producers are investing in other energy industries. This US company will instead get there by investing more in its oil fields.
Texas Regulator To Place New Limits on Allowable Flaring
Oil and gas producers in the state are being asked to submit data and economic analysis on why they cannot sell natural gas before they are granted permission to flare it.
UAE Has Become World's Newest Producer of Unconventional Gas
The first delivery of shale gas in the UAE marks a major milestone toward its goal of reaching 1 Bcf/D by 2030. It also signals the expansion of hydraulic fracturing in the UAE’s conventional fields.
US Job Numbers Up for OFS and Equipment Industry, But Outlook Remains Unclear
The increase in OFS and equipment sector jobs over the past 2 months came amid higher oil and gas production. But increases in COVID-19 cases are causing uncertainty about when and how much demand will rise.
Latest Shale Sector Acquisition Combines Two Colorado Producers
Bonanza Creek plans to buy HighPoint Resources and said it hopes to maintain an output of 50,000 BOE/D by focusing only on drilled-but-uncompleted wells in the near term.
When the Rules Get Ahead of the Data, There Is Nowhere To Hide
What happens when proactive regulations get ahead of our ability to gather and understand data? Are you guilty before being proven innocent or even being aware of what the data are saying?
Saudi Arabia Is Rich in Harsh Well Conditions
Saudi Aramco’s papers on new well technology offer glimpses at the challenges of developing its unconventional gas resources.
Baker Hughes Buys Startup To Scale Up Carbon-Capture Business
To go big on capturing CO2, the oilfield service company is acquiring a company that specializes in going small.
Equinor Aims To Become Net-Zero Energy Company by 2050
As it reaches for net-zero emissions, the company said its operations offshore Norway remain central to its long-term strategy.
Addition of Surfactant-Modified Graphene Improves Water-Based Drilling Mud
This paper reports the effect of sodium dodecyl sulfate modified graphene (SDS-Gr) on the rheological features, fluid loss, and swelling inhibition mechanism of clay.
CO2 EOR Could Be Industry’s Key to a Sustainable Future or Its Biggest Missed Opportunity
The challenge is immense, but the promise is, too. If the oil and gas business can scale up CO2 EOR, then it can play a very big role in mitigating climate change while offering carbon-negative fuels.
Comprehensive Cuttings-Transport Model Optimizes Drilling Operations for Hole Cleaning
This paper discusses a new, comprehensive cuttings-transport model designed to enable safe and improved hole-cleaning operations.
Data and Digitalization Breakthroughs Create a New Era for Well Construction
Digitalization and automation successes are here to stay. Instead of making small incremental steps in well construction operations, allowing disruptive shifts can lead to tangible performance gains in efficiency, safety, and well integrity.
Drilling and Completion Fluids
There is a growing interest in using nanocomposites to improve drilling-fluid rheology. In recent years, an additive derived from a sequence of graphene-based materials has been reported. The progress of these graphene derivatives has been used as a paradigm for water-based drilling fluids.
A “DUC Hunt” In Canada Reflects the Engineer’s Will To Evolve
A recent datathon and the team that took home the grand prize help paint a picture of both the industry’s’ digital transformation and how oil and gas engineers are embracing it to navigate uncertain times.
The recurring long-term mitigation of slugging and various flow-assurance phenomena are challenging issues that demand attention and considerable technical effort. The three papers outlined here discuss slightly different issues and approaches to slug-flow phenomena and flow assurance.
Engineers thrive on making more from less, and this month’s paper selections highlight efforts to improve the efficiency of gas-production operations throughout the world.
High-Resolution Wellbore Tortuosity Logs Improve Completion and Production Equipment Placement
Wellbore tortuosity is a term that has steadily increased in relevance to the oil and gas industry over the past decade, but its importance is especially clear in the current environment.
Horizontal and Extended-Reach Wells
Our understanding of drilling with better software, instrumentation, machines, computer vision, downhole tools, and robots will continue improving the economics of horizontal wells, and the trend is set to continue. This is good news for the geothermal market.
Installation of Gas Ejector Provides Boost to Low-Pressure Gas Well
To further reduce backpressure on low-pressure gas wells and increase reserves in a mature gas field, a gas-ejector project was evaluated and proposed.
Inter-Well Relationships Are Messy, But That Can Be a Good Thing
Groups of wells communicate, interfere, and hit each other. It is an unruly scene that can offer benefits. Three stories look at why competing fracture networks can add to the production from rock that might otherwise be missed.
Large-Scale Experiments Examine Slug-Length Evolution in Long Pipes
The complete paper presents a set of two- and three-phase slug-flow experiments conducted in a 766-m-long, 8-in. pipe at 45-bara pressure.
Machine-Learning-Assisted Approach Analyzes Slug-Flow Root Cause
The complete paper discusses the successful application of a data-driven approach to analyze production data and identify root causes of slugging in a subsea production system on the Norwegian Continental Shelf.
Modeling Liquid Holdup in Pseudoslugs
The complete paper develops a plausible physical model of the experimentally observed pseudoslug liquid-holdup phenomenon and models physical and hydrodynamic behavior using a dimensional regression modeling approach.
Neural Networks Help Classify Reservoirs by Recognizing Cuttings Lithologies
Advances during the past decade in using convolutional neural networks for visual recognition of discriminately different objects means that now object recognition can be achieved to a significant extent.
New Low-Impact Drilling Fluid for Deepwater Applications
This paper describes a low-impact, nonaqueous drilling fluid (LIDF) designed to minimize equivalent circulating density (ECD) increases and associated risks in deep water by reducing the effect of cold temperature on fluid viscosity.
New Method Determines Well Spacing in Unconventional Reservoirs
Present industry solutions to the challenge of well spacing involve expensive geomechanical Earth modeling or fracture-geometry monitoring that is time-consuming, data-intensive, and geography-specific.
New Multiphase Pump System Can Handle Up to 100% Gas Volume Fraction
To have the flexibility to treat both rich and lean gas wells [up to 100% gas volume fraction (GVF)], a new multiphase pump system has been developed by comparing the different boosting systems performance and analyzing well-by-well production scenarios.
Saltwater Disposal Optimization Drives Water Midstream Sector
Operators of unconventional plays face a conundrum—how to dispose of produced water economically without risking seismicity or aquifer contamination. A recent paper and virtual forum offer ideas for optimizing saltwater disposal.
Study Models Onset of Liquid Loading in Large-Diameter Deviated Gas Wells
The complete paper describes an experimental study performed to investigate the onset of liquid loading in a 6-in. production casing at various inclination angles.
Technologies and Practices Push ERD Safe Operating Envelope, Reap Savings Offshore
The complete paper describes an offshore artificial island project northwest of Abu Dhabi in which drilling limits were extended continually by adopting new technologies and practices in an extended-reach-drilling (ERD) campaign.
ExxonMobil and Chevron Confirm More Downsizing
The two largest oil companies in the US are shedding thousands of employees and contractors to cope with a steep decline in demand.
EQT Swells Gas Holdings With Acquisition of Chevron’s Appalachian Assets
Describing it as a “bolt-on” acquisition, the Marcellus Shale producer EQT expects the deal will boost its gas production by 10%.
New SPE President To Help Organization Evolve Through Pandemic and Energy Transition
In his first remarks as SPE President, Tom Blasingame announced that the theme of his tenure is “Survive, Revive, and Thrive.”
Cenovus Buys Husky in a Cost-Cutting Deal
The Canadian oil company consolidation formula looks a lot like the one offered by US shale producers.
A “Survivor” of the Downturn, Pioneer Buying Parsley To Become Permian’s Largest Producer
In another all-stock transaction, one of the largest operators in the Permian Basin is set to add nearly 250,000 acres to its portfolio and swell oil production to more than 300,000 B/D.
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.
The End Is Near for Riviera Resources
Marking the end of a 2-year existence, Riviera is preparing for liquidation and dissolution. The sale of its upstream and midstream assets for $146 million will deliver a $1.35-per-share cash dividend to shareholders. By the end of this year, the company will cease to exist.
Firm That Transforms Surface Properties With Lasers Wins Top Prize at ATCE Startup Village
FLITE Material Sciences says that its unique lasering process can be used on just about any type of material to make it either repel or attract water and oil. For an industry that deals with a lot of both, the technology has many potential use cases.
Will Investors Be Treating Oil Companies as Fossils?
Tough talk about World Bank financing for oil and gas is a sign of the growing pressure to squeeze investing in fossil fuels as a way to slash carbon emissions.
US Fed Survey Shows Small Bounce in Energy Activity, Bigger Rebound Uncertain
The majority of energy firms surveyed by the Federal Reserve Bank don’t expect the business environment to significantly improve until 2022 or 2023.
Chevron To Cut Up to 15% of Global Workforce
Chevron is initiating its layoffs of up to 15% of its global workforce of 45,000 first announced in late May by asking employees to reapply for positions. It closed its $4.1-billion acquisition of Noble Energy this week in which it gained 2,200 employees.
UK Regulator Awards Eni CO2 Appraisal and Storage License
Eni plans to reuse depleted hydrocarbon reservoirs in Liverpool Bay to permanently store CO2 captured in northwest England and North Wales.
Chrysaor’s Reverse Takeover of Premier Oil To Create Largest North Sea Independent
The merger will effectively end the 86-year run of UK independent oil producer Premier Oil and give rise to one of the largest companies operating in the North Sea region.
Hess Sale Raises $505 Million To Pay for Guyana Development
With oil prices still low, Hess decided to sell a stake in one offshore project to help pay to develop a much larger one.
Equinor To Cut 30% of E&P Staff, Shuts In Fields Due to Labor Strike
Equinor plans to cut its global exploration staff by 30% in the next 3 years and plans to drill 30–40 wells globally this year. Ongoing labor strikes have led to the operator shutting in four of its platforms.
Analysis of Sand-Control-Installation Failures Provides Insights, Paths Forward
Sand-control-installation failures range from minor issues that can be remedied easily to catastrophic events that put the entire well and investment at risk.
Artificial Intelligence in Operation Monitoring Discovers Patterns Within Drilling Reports
The complete paper provides an approach using machine-learning and sequence-mining algorithms for predicting and classifying the next operation based on textual descriptions.
Bringing the Heat: Aramco Field Tests High-Temperature Chemistry To Slash Tight-Gas Completion Costs
Saudi Aramco and university researchers are experimenting with a thermochemical fracturing fluid that aims to eliminate more than half of the pumping horsepower typically required to complete horizontal wells.
From Completion to Production Without Intervention in a Subsea Well
The complete paper describes the development and implementation of a glass-plug solution that closed the technical gaps that had previously inhibited fully intervention-free operation for completion installation.
Machine-Learning Approach Determines Spatial Variation in Shale Decline Curves
The complete paper describes an automated machine-learning approach to determine the spatial variation in decline type curves for shale gas production, based on existing data of production, completion, and geological parameters.
Machine-Learning Image Recognition Enhances Rock Classification
Automated image-processing algorithms can improve the quality and speed in classifying the morphology of heterogeneous carbonate rock. Several commercial products have produced petrophysical properties from 2D images and, to a lesser extent, from 3D images.
Multilevel Completions in One Trip: Development and Deployment
The complete paper describes the hurdles that have prevented single-trip installation of upper and lower completions in the complex world of subsea and deepwater applications and examines the processes, technologies, and risk-mitigation steps that took a concept from pilot to successful deployment.
Pilot Lessons: Chesapeake’s Shale EOR Program Stalls But Still Offers Bold Vision
Though shelved by low oil prices, the plan to execute the largest enhanced oil recovery program of its kind offers insights into what it may take for the shale sector to escape pilot mode and scale up gas huff ’n’ puff operations.
Report Outlines Knowledge Gained in Gas Hydrate Production Testing
The complete paper reviews the results of gas hydrate engineering and production testing studies associated with northern Canada and Alaska.
Seal Qualification and Single-Trip Lockdown Sleeve Reduce Risk
Traditionally, a wellhead system requires a drilling lockdown sleeve (LDS) during drilling operations to ensure that the seal assembly is rigid and prevents dynamic movement. By eliminating the LDS, however, the operator will save multiple trips into the well.
Study Quantifies Stress Sensitivity of Fractured Tight Reservoirs
The complete paper describes and quantifies the stress-dependence of compaction and permeability for anisotropic rock matrices, natural fractures, and hydraulic fractures, based on comprehensive rock tests of a fractured tight reservoir.
Surfactant-Based Treatment Fluids Mitigate Fracture Hits in Parent Wells
The complete paper presents a strategy for selecting a surfactant/solvent package for parent wells. Oil recovery and associated water saturation in the microfluidic-based device, with or without surfactant, are quantified and reveal that the oil recovery is enhanced with surfactant.
Transient Multiphase-Flow Simulation Enables Slugging Mitigation Solution
The complete paper discuses a well with a history of sand production that exhibits long cyclic slugging behavior.
When Fracturing, Heed the Plugs
When a plug gets stuck in a well, consider the cause. Often stuck fracturing tools are a warning sign of casing trouble. Companies that have investigated plug problems have been surprised by the findings.
Wireline Sand-Detection Tool Locates, Quantifies Downhole Sand Production
Field examples presented in the complete paper describe principles of data acquisition with a sand-detection tool when run in combination with a production logging string and results of logging in slightly deviated wells completed with sand screens.
Colorado Regulator Poised To Place Major Restrictions on Where New Wells Can Be Drilled
Critics of the new rule call it a de facto ban on new drilling and completions that will affect large portions of the state’s undeveloped oil and gas properties.
Shell To Shed More Than 10% of Staff as Part of Net-Zero Restructuring Push
Shell's CEO said the Dutch supermajor has "too many layers" and that the move to downsize will help ensure its future. As a result, at least 9,000 people are expected to leave the oil and gas producer between now and 2022.
Shale Consolidation: Permian Players Devon Energy and WPX Energy Announce All-Stock Merger
The two shale producers are calling it a “merger of equals” and will share management duties once the transaction closes. The combined company aims to become the fourth-largest producer of tight oil in the US.
Shell Files Plans for North Slope Development With an Intent To Sell
The Dutch major said it has filed an application for drilling operations in the North Slope as part of an effort to help attract buyers to 18 leases it purchased rights to in 2012.
Weatherford and Safe Influx To Combine Technologies in New Agreement
The service companies plan to co-market an emerging well control system that can integrate with established managed-pressure-drilling components to enhance well construction safety and efficiency.
The New Map: Daniel Yergin Paints A Complex Mosaic Of Our Energy Future
The author of The Prize talked recently about his newest book on the energy transition and what he sees as the most dynamic forces shaping the things to come.
Oil Jumps After Saudi Oil Minister Presses OPEC+ for Better Compliance With Production Cuts
Saudi energy minister warns speculators not to bet against the OPEC+ alliance.
UPDATE: Workers Return to Offshore Platforms After Hurricane Sally Evacuations
Personnel are returning to platforms in the Gulf of Mexico after Hurricane Sally was downgraded to a tropical depression late Wednesday, but the threat of another major hurricane remains as a tropical storm may form in the Gulf of Mexico today.
Oxy and Total’s Carbon-Capture Project Takes Next Step With US Government Funding
Phase 1 involved a feasibility study for a facility capable of capturing 750,000 tonnes of carbon dioxide annually. The next phase will explore building a facility capable of more than twice that amount.
BP and Microsoft Strengthen Ties To Develop Low-Carbon Solutions for Upstream and Beyond
The tech giant and supermajor have been working on cloud solutions already, but in a new agreement, they will combine their talents to create new technologies for oil and gas as well as energy consumers.
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