TOPICS OF INTEREST
Shale, Tight Oil Investments to Fall 12% in 2020; Global Deepwater Rising
Lower oil prices and capital discipline are expected bring forth a double-digit drop in shale and tight oil spending, while deepwater momentum is seen continuing. This comes as “massive investments” will be needed in the next decade to meet growing oil demand.
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.
Chevron Sanctions First Deepwater Ultra-High-Pressure Development
The Anchor development in the US Gulf of Mexico is the first ultra-high-pressure project requiring 20-ksi operating pressure to reach a final investment decision.
Chevron Sets 2020 Upstream Budget, Writes Down At Least $10 Billion
The US major will keep its overall budget flat for a third straight year, but the expectation of lower oil and gas prices long-term will result in tax impairment charges of $10 billion–$11 billion. More than half of those charges will come from its Appalachia Shale gas assets.
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.
Berry to Succeed Shale Pioneer Hamm as CEO of Continental Resources
Hamm, who has served as CEO since founding Continental in 1967, will become executive chairman effective 1 January.
Tullow Oil CEO, Exploration Director Resign Amid Lower Production Outlook
The resignations come as the company makes downward revisions to its production guidance after a disappointing performance from its TEN and Jubilee fields offshore Ghana.
SPE Talks To: Yogashri Pradhan
In this episode, we discuss how to market yourself and grow your career.
Total Officially Enters Libya’s Waha Concessions
Total will invest $650 million in the development of two main projects, North Gialo and NC 98, resulting in a 180,000-B/D increase in production.
Devon Teams with Dow to Develop STACK Acreage
Under the agreement, the Oklahoma City independent will monetize half of its working interest in 133 undrilled locations in the form of a $100-million drilling carry during the next 4 years.
Pemex Makes 500 Million Barrel Discovery
The Quesqui field is expected to be the biggest onshore find in Mexico since 1987.
OPEC, non-OPEC Allies To Extend, Increase Production Cuts
The group will shed an additional 500,000 B/D of oil production through March 2020, bringing the total curtailment to 1.7 million B/D.
Colombia Awards 14 Onshore Blocks
Calgary-based Colombia producers Canacol Energy and Parex Resources led all firms by gaining three blocks each, with one more counteroffer from Parex pending review.
Apache To Deepen Suriname Exploration Well, Conduct Further Tests
Industry awaits the results of Apache’s Maka Central-1 exploratory well offshore Suriname, where high expectations follow the rapid exploration success of neighboring Guyana.
Repsol Becomes First Oil Company To Aim For Net-Zero Emissions By 2050
The Spanish oil and gas company says existing or foreseeable technologies will achieve at least 70% of its ambitious plan to shrink its carbon footprint.
US Was Net Exporter of Crude, Petroleum Products in September
It is the first time the country was a net exporter of crude and petroleum products during a month since the US Energy Information Administration began keeping such records in 1973.
Oil and Gas UK Calls for Urgent Action on Carbon Capture and Storage
Rapid scale-up of CCUS projects is critical to achieving net-zero carbon emissions by 2050.
SPE Talks To: Shauna Noonan—Strengthening Ways To Disseminate Knowledge
Each month, Shauna joins The SPE Podcast to discuss her President's Column and to share her SPE journey. We'll end each of these podcasts asking the audience an interactive question.
Questions Over Permeability Prompt Producer-Led Group To Rebuild Key Fracture Diagnostic
For the past 20 years, the diagnostic fracture injection test has been used across the frontlines of the shale revolution to paint a picture of what cannot be seen. However, that picture has not always been so clear in the eyes of subsurface engineers.
Digital Twins Mature in the North Sea
A proving ground for the use of digital twins has emerged in the North Sea. There, operators Total, Aker BP, and Shell have each developed and deployed twins that they expect to pay big dividends.
As Industry Changes, So Does Petroleum Engineering Education
The industry is becoming increasingly complex, leading to changes in how universities approach education for undergraduate study.
PRMS Classifications: A New Methodology for Resource Inventory Management
This paper presents a methodology that provides the upstream industry with a robust approach to petroleum inventory management.
Value of ROV Data Extends to Decommissioning Strategy
The complete paper describes the potential global scientific value of video and other data collected by ROVs.
Analytical Study Examines Production of Multistage Horizontal Wells in the Bakken
Multistage horizontal well designs were first implemented in the Bakken in 2007. Since then, more than 12,000 wells have been completed in either the Middle Bakken or Three Forks zones.
Horizontal Infill Well With AICDs Improves Production in Mature Field
This paper compares the performance of three mature-field horizontal infill wells, one of which is completed with autonomous inflow-control devices (AICDs).
Smart Robotic System Tracks Buried Pipelines, Inspects for External Damage
The complete paper describes the development of a smart robotic inspection system for noncontact condition monitoring and fault detection in buried pipelines.
Automated Approach Optimizes Flow-Control Device Placement in SAGD Completions
The complete paper presents an automated approach to optimizing placement of flow-control devices (FCDs) in SAGD well-pair completions.
Isolator Tool for High-Frequency Torsional Oscillation Proves Effective
This paper presents dynamic simulations, prototype testing, and field-test results of a BHA component that isolates the upper part of the BHA from HFTO.
BHA Behavior-Prediction Model Offers Potential for Automated Analysis
A new 3D drillstring model determines the static and dynamic behavior of bottomhole assemblies (BHAs) in realistic wellbores.
Resolving Torsional Vibration in Limestone Reservoirs Reduces Equipment Damage
This paper examines multiple factors that can affect the severity of stick/slip and measures their actual effect.
Coupled 3D Simulator Models Wastewater-Injection-Induced Seismicity
This paper presents a coupled 3D fluid-flow and geomechanics simulator developed to model induced seismicity resulting from wastewater injection.
New Technology Reduces High Water Production in Heavy-Oil Field in Oman
Field N is a complex heavy-oil field in the north of the Sultanate of Oman. The dynamic behavior of Field N is characterized by strong aquifer and is dominated by bottomwater drive.
Subsea Water-Treatment System Installed in Pilot Test at Ekofisk
A subsea water-treatment system designed to leverage space availability, steady temperatures, lower bacteria levels, and other natural benefits of the seabed environment was successfully installed during pilot testing at the Ekofisk field offshore Norway.
Wallace Appointed CEO of Israel’s Delek Group
The succession at the top role comes amid the independent’s expansion beyond the Eastern Med, with recent acquisitions of North Sea and US Gulf of Mexico assets.
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.
SPE Talks Tech: 2020 Technology Watch List
With 2020 on the horizon, JPT editors put together our Top 10 list of technologies and ideas to keep an eye on in the coming year.
Another View: The Innovation Path to Deployment
Many confuse “an” innovation model for “the” innovation model, and we have confounded innovators with entrepreneurs. They are not the same thing.
ConocoPhillips Unveils 10-Year Operating, Financial Plan
The plan targets some $50 billion in free cash flow over the period while growing production more than 3%/year.
CNOOC Names CEO, Increases Bohai Oil Production
Xu Keqiang took the reins as CEO of the Chinese national oil company on 19 November. Meanwhile, more oil is flowing from the offshore Caofeidian 11-1/11-6 oilfield project.
SPE Talks To: Kirstie Boyle
Business Development VP Kirstie Boyle joins The SPE Podcast to talk startups. Recently part of a $4.5-million funding round, Kirstie shares what makes Interface Fluidics flow.
Short-Term Headwinds and Fundamental Long-Term Change Will Challenge Oil and Gas Industry in 2020
Macroeconomic and business risks, investor uncertainty, and the energy transition highlight the challenges outlined in the report.
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.
European Investment Bank To Stop Funding Oil and Gas Projects
The bank funded some €2 billion in projects last year.
ADNOC To Boost Oil Production from Giant Bab Field
The upgrade project will increase the maturing field’s oil production to 485,000 B/D.
Pemex Suffers Cyberattack, Hackers Demand Ransom of Nearly $5 Million
The ransomware attack that began over the weekend is reportedly still affecting the national oil company’s payment systems, which may have wider impacts on its supply chain. For now, the company says its upstream and downstream operations are running normally.
ADNOC Launches Rig Fleet Expansion Program
ADNOC’s drilling subsidiary has increased its rig fleet to 95 and plans to add “dozens” more by 2025.
IEA Outlook Highlights Deep Disparities in Global Energy System
Annual report says that governments have the greatest capacity and responsibility to shape the energy future.
Petrobras Starts Production from Pre-salt Berbigao Field
P-68 is Petrobras’ fourth FPSO to begin operations this year following the startups of P-67 at the Lula field and P-76 and P-77 at the Buzios field.
Oxy Advances Post-Merger Divestment Program
Occidental Petroleum has closed on deals totaling $1.7 billion as part of its divestment program following its $38-billion takeover of Anadarko Petroleum.
Chesapeake CEO Expresses Confidence in Company’s Financial Stability
The long-struggling shale operator’s share price on 12 November closed at 67¢/share, a 25-year low.
SPE Talks To: Andrew Pepper
Fluid saturation isn't what it used to be when it comes to unconventional reservoirs. Our guest is among those sharing new research to discuss the shale sector’s changing perspectives on the importance of mobile hydrocarbons vs. immobile hydrocarbons.
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.
West Mira Semisubmersible Deploys Hybrid Power Plant
By using the four converter-battery systems, the operator estimates it will be able to reduce the runtime of the rig’s on-platform diesel engines by 42%, cutting CO2 emissions by 15% and NOx emissions by 12%.
Another Brazilian Auction Fails To Draw Bids from Majors
Chinese firms stepped in for the majors in Brazil’s two underwhelming offshore auctions.
California Oil Fields Are Not the State’s Biggest Methane Emitters
Methane emissions from California garbage dumps far surpass emissions from oil fields, according to a NASA survey.
Equinor Exits Eagle Ford JV
Spain’s Repsol will assume 100% interest in and operatorship of the joint venture as Equinor leaves the 9-year partnership.
Report Forecasts “Major Slowdown” in US Oil Output Growth
Lower oil prices, increased operator focus on capital discipline, and diminishing access to capital are choking off once-soaring US oil production growth.
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.
Petrobras Awarded Búzios, Itapu Blocks in Brazilian Auction
Just three firms submitted bids in an auction many are deeming as a disappointment for Brazil.
Led By the Permian, US Flaring and Associated Gas Production Hit New Highs
The volume of flared gas in the US unconventional sector is now 12% of the country’s total gas production. A pair of new reports say that Permian Basin operators account for much of the growth.
Chevron to Sell Stake in Azerbaijan’s Giant ACG Field
The US major has had a stake in the field since it started production in 1997. It produced 584,000 B/D of oil last year.
Saudi Aramco IPO is a Go, Expected to Be Largest in History
The world’s most profitable company will be listed on a domestic exchange next month. The final valuation of the company is yet to be determined.
Britain Imposes Moratorium on Hydraulic Fracturing
The decision comes 2 months after UK shale operator Cuadrilla Resources halted stimulation work at its Preston New Road site in Lancashire because of a magnitude 2.9 seismic event.
Drilling and Completion Fluids
Recent research has put extensive focus on the magic of graphene in drilling fluids. Graphene, because of its thermal, electrical, chemical, and mechanical properties, improves mudcake stability and minimizes fluid loss that eventually reduces formation damage.
Water-Based Drilling Fluid Using Nanoparticles Proves Effective in Unconventional Shales
This study focus on the design and evaluation of a customized water-based mud (NP-WBM) using silica oxide nanoparticles (SiO2-NPs) and graphene oxide nanoplatelets (GNPs).
Nonaqueous, Nondamaging Fluid Implemented Offshore Abu Dhabi
This paper covers the 7-year history of drilling-fluids application in a reservoir drilling campaign offshore Abu Dhabi, from the early use of a solids-free, brine-/water-based mud to the recent application of nondamaging, nonaqueous fluids (NAFs) with micronized acid-soluble ilmenite.
Low-Toxicity Polymer Fluid Developed for Environmentally Sensitive Offshore Drilling
Horizontal and Extended-Reach Wells
Drilling has become a complex operation that requires a multitude of tasks to be managed at the same time. Not surprisingly, then, drilling automation will gain momentum in the near future to deliver consistent execution and performance safely and with good wellbore quality.
Permian Basin: Use of In-Situ Mechanical Rock Properties Improves Completions
Optimizing horizontal well placement is not limited to identifying the most-favorable reservoir, but also involves identifying the ideal target window within that reservoir.
Reduced-Friction Centralizers Field-Tested for Ultraextended-Reach-Drilling Completions
The complete paper documents the development, laboratory- and field testing, and lessons learned from a project to evaluate coated centralizers.
Rotary-Steerable System Concept Aims To Increase Efficiency, Reduce Costs
The advent of the rotary-steerable system (RSS) introduced an efficient way to drill both current and future wells. However, current tools still fail to replace positive displacement motors (PDMs).
The summer of 2019 has been rife with media reports about negative gas pricing in the Permian and, given the propensity of our industry to pick a favorite horse and then all pile on it at the same time, it is not surprising when we create our own boom and bust cycles.
Intermittent Gas Lift Used in Hydrate Mitigation and Flare Reduction in Algeria
Hassi Messaoud is a mature oil field with more than 1,100 production wells. Approximately half of the wells are natural flow and the other half use continuous gas lift (CGL) with concentric (CCE) strings.
Feasibility of Using Small-Scale GTL Plants To Mitigate Flaring in North Dakota Evaluated
Huff ‘n’ Puff EOR Proves Effective in Gas-Condensate Reservoirs
The objective of the study described in this paper was to investigate the feasibility of huff ‘n’ puff enhanced oil recovery (EOR) in a gas-condensate reservoir.
The papers presented here, including the additional reading papers on the potential novel applications of subsea tieback technology, focus on developing new analytical tools and new materials while providing safe, cost-effective, and reliable operations for flow assurance.
Predicting Severe Slugging in Toe-Down Horizontal Wells
This paper presents the results of an experimental and modeling study that demonstrates the existence of severe slugging in systems with upward-inclined lateral flow paths, such as a toe-down well.
Surface Treatment Improves Flow Assurance and Throughput in Corroded Pipe
This paper describes a material designed to interact specifically with highly corroded and weathered pipe to enable in-place application and refurbishment.
Software System Enables Effective Flow-Assurance Management
This paper describes a smart management system used for retrieving and evaluating all flow-assurance-related data for more than 700 of the operator’s onshore and offshore wells.
Canadian Drilling To Drop Further in 2020
Canadian drilling activity has fallen measurably in 2019, and the outlook is even worse for 2020, according to a forecast from the Petroleum Services Association of Canada.
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