TOPICS OF INTEREST
Digital Startups Raise Hundreds of Millions to Modernize Upstream Sector
Producers and investors continue to reward small companies with big solutions that lean on new software and hardware to lift the bottom line of one the world’s few trillion-dollar industries.
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.
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.
Report: BP Pulling Out of Iraq Field
The withdrawal comes at a time of increasing tension between the US and Iraq, which makes investment in the country riskier.
2020 Will Be Year of New Directions and Complex Choices for Oil and Gas Industry
Amid weakening confidence and volatile market conditions, greater efficiencies and decarbonization are at the center of the industry’s agenda.
Oilfield Construction Giant McDermott Files For Bankruptcy Protection
The firm has outlined a restructuring plan that will see it sell off subsidiaries and erase more than $4.6 billion in debt.
Eni, ADNOC Sign Carbon Capture Agreement
The companies will focus on research and development to reduce CO2 emissions and promote the circular economy.
Nine Months After Discovery, Eni Starts Offshore Angolan Oilfield
The Italian oil and gas company used a “fast track” model to get the first production well flowing from the Agogo field.
Israel Starts Exporting Natural Gas to Egypt
Landmark deal called most significant since 1979 peace treaty.
Oil and Gas Discoveries Reach Four-Year High in 2019: Rystad
A total of 12.2 billion BOE was discovered worldwide in 2019—the highest volume in 4 years, with offshore regions dominating the list of new deposits.
US Onshore Contraction Results in Layoffs at Occidental and Apache
Layoffs have begun at Occidental Petroleum, which needs to slack costs after buying Anadarko, as well as Apache.
Talos Shares Zama Reserves Audit Amid Unitization Negotiations With Pemex
Talos is hoping to retain its operatorship of the major discovery it made in 2017 offshore Mexico after a reserves audit confirmed the reservoir is shared between two offshore blocks.
BP Makes $625 Million Exit From North Sea Assets
The deal is part of BP’s plan to divest $10 billion in the North Sea so that it can focus on developing core growth areas and construct more cost-effective subsea tiebacks in the region.
Discovery Suggests Guyana Bounty Extends Offshore Suriname
A significant discovery of oil off Suriname increases the odds that major oilfields off Guyana will extend across that international boundary.
Oxy and Total Team Up in Colorado for Carbon Sequestration Project
A new joint study will test the economic viability of taking CO2 from a cement plant and giving it to an oil company to pump underground.
Equinor Plans to Eliminate Norwegian Carbon Emissions
Equinor has released its plan for eliminating carbon dioxide emissions in Norway by 2050, but it comes with some tall technical challenges.
US Shale: All Signs Point to Further Consolidation
As capital markets dry up and shale producers look for pathways to growth, oil and gas data analytics firm Enverus predicts the US sector will see a “surge” in mergers and acquisitions in 2020.
Integrated Approach to Well-Leak Diagnostics Meets Success Offshore Timor Sea
This case study discusses the methodology that underlies the successful determination of the depths and the radial locations in the outer casing strings of multiple leaks in an offshore well.
Snubbing Unit Brings Middle East Well With Underground Blowout Under Control
This paper describes the mobilization of a snubbing unit and blowout preventer (BOP) stack in the Middle East that enabled a well with an underground blowout and surface broaching to be brought under control within a short time.
Personnel Benefit From Advanced Drilling Simulators for Well-Control Training
This paper focuses on the preparation for, and implementation of, well-control training, while highlighting the integration of people skills into curricula and what advantages operators and drilling contractors have obtained.
SPE Technical Directors’ Outlook: Tearing Down the Walls Among Disciplines
Merging new knowledge and technological capabilities among the disciplines—and beyond—will be crucial to sustaining the industry for the long term.
Data-Acquisition Optimization Maximizes Value of Mature Oil-Rim Reservoirs
The XamXung field offshore Sarawak, Malaysia, is a 47-year brownfield with thin remaining oil rims that have made field management challenging. The dynamic oil-rim movement has been a key subsurface uncertainty, particularly with the commencing of a redevelopment project.
Artificial Intelligence Transforms Offshore Analog Fields Into Digital Fields
This paper details how artificial intelligence was used to capture analog field-gauge data with a dramatic reduction of cost and an increase in reliability.
Field Trial of Cloud-Connected Wireless Completion System
This paper describes the development and field trials of a cloud-connected, wireless intelligent completion system that enables long-term monitoring and interval control to enhance production management by connecting the user wirelessly from the desktop to downhole inflow-control valves.
Remote Sensing Imagery Improves Safety and Logistics of Arctic Operations
Many forms of remote sensing imagery can be used, along with data sets and the resultant products, to improve the efficiency and safety of upstream oil and gas operations on the North Slope of Alaska.
Digital Data Acquisition
Welcome to the debut of the Digital Data Acquisition feature. The new feature comes from the desire of readers and reviewers to broaden the scope of JPT’s coverage of developments related to digital transformation and the applications that the industry can derive from these exciting possibilities.
Fiber-optic technologies—distributed temperature sensing and distributed acoustic sensing—have been experiencing an ever-increasing number of applications in the oil and gas industry as monitoring systems.
The bulk of the literature on enhanced oil recovery from the past year has been devoted to an improved understanding of trends started more than a decade ago with physical and numerical modeling.
Study Investigates Smart Waterflooding in Sandstone Reservoirs
In this paper, the authors consider the effect of water chemistry on water/rock interactions during seawater and smart waterflooding of reservoir sandstone cores containing heavy oil.
Capacitance-Resistance Model Used for Integrated Detection of Water Production
The objective of this study is to show how the capacitance-resistance model (CRM) was used on this field and how it validated the use of other independent methods. This paper demonstrates that integration of different sources of data in reservoir management is critical.
Heavy-Oil Steamflood Validates Machine-Learning-Assisted Model
This paper updates a previous case study and presents the results of actual implementation of an optimized steam-injection plan based on the model framework.
An Unconventional Challenge: Can Casing Failures During Hydraulic Fracturing Be Stopped?
The shale sector is seeking answers to a complex issue involving casing deformations that block access to long sections of a lateral. As opposed to frac hits, this rising problem is considered to be an intrawell phenomena.
Liquid-Loading-Mitigation Strategies Maximize Recovery From Gas Reservoirs
To predict liquid-loading tendencies and to identify opportunities for production enhancement, the performance of 150 gas wells was analyzed in two gas fields in India.
Study Assesses Incentives, Development Strategies for Peruvian Mature Heavy Oil
The complete paper explores technical and economic development options to produce heavy-oil resources at commercial rates and showcases three optimization scenarios of higher recovery efficiency aimed at increasing net present value at the basin level.
Heavy Oil Innovation Haunted by Low Oil Prices and Bad Memories
Heavy production spiked in two Canadian wells heated by an electric cable, but it is hard to find customers there at a time when Canadian oil prices and customers remember cables in the past that died young.
Mature Fields and Well Revitalization
Production decline with field maturing is a natural phenomenon, but the efforts to mitigate this decline are truly remarkable. Achieving this feat requires not only a deeper understanding of the subsurface process involved but also a total synergy between the various disciplines engaged.
Massive Gas Field Begins Production Offshore Israel
The largest natural gas field in the rising Eastern Mediterranean region is now flowing after being discovered a decade ago.
Egypt Awards Oil Majors First Red Sea Blocks
The Arab world’s most populous country has awarded a string of concessions in a bid to become the region’s next major supplier of natural gas.
Global Deepwater Production Hits 10 Million BOE/D
The depth of the world’s offshore projects has steadily increased over the past 30 years—and so has its production base. The growth trend will continue thanks to new fields offshore Brazil, Guyana, and the US.
Guyana Hits New Milestones
First oil from the 120,000-B/D Liza Destiny FPSO is flowing ahead of schedule.
Tackling Carbon Emissions on a Grassroots Level
Alberta carbon conversion challenge yields potential GHG reduction of millions of metric tons per year.
Shell’s Well Pad of the Future Is Open for Business
The international major is calling its latest multiwell project in the Permian Basin a “beacon of innovation.” The goal is to see if combining digital technologies will lower the operating costs of its shale assets.
Devon Sells Barnett Asset to Thai Venture Firm for $770 Million
Devon exits the asset that served as the company’s cornerstone for almost two decades and is known to the world as the birthplace of the shale revolution.
Rystad Warns of Gloomy Start to 2020 for Oilfield Service Firms
Reduced investment in US shale will continue to weigh down the global oilfield services market through 2020.
Total to Gain Blocks, Extend Production Licenses Offshore Angola
Total has agreed to acquire interests in two blocks in the offshore Kwanza Basin from Angola’s state-owned Sonangol and has received an extension on its offshore Block 17 production licenses.
Superior Energy Becomes Latest Service Firm to Abandon Pressure Pumping
As completions activity slows down in the US, the second service company in a week’s time has said it is exiting the business of hydraulic fracturing.
Legacy Providers Lose Ground In Texas’ Crowded Directional Drilling Market
Directional drilling and measurement-while-drilling technology has become so democratized in the Texas shale sector that no provider holds more than 8% of the market share.
BP Confirms Further Gas Potential Offshore Mauritania, Senegal
Three appraisal wells drilled this year—GTA-1, Yakaar-2, and Orca-1—targeted nine hydrocarbon-bearing zones, encountering gas in high-quality reservoirs in all zones and yielding a combined 160 m of net pay.
Basic Energy Services to Leave Pressure Pumping Business
The company said it will avoid the pumping business's “structurally disadvantaged position” and instead focus on well servicing and water logistics.
Weatherford Emerges from Chapter 11, Eliminates $6.2 Billion in Debt
The company also secured $2.6 billion in exit financing facilities, including a $450-million revolving credit facility, as well as a $195-million letter of credit facility and more than $900 million of liquidity.
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.
Shale, Tight Oil Investments to Fall 12% in 2020; Global Deepwater Rising
Lower oil prices and capital discipline are expected to result in 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.
US Sets New Records for Proved Oil and Gas Reserves
Proved oil reserves totaled 43.8 billion bbl at yearend 2018 while proved gas reserves amounted to 504.5 Tcf, both topping records set in 2017, the US Energy Information Administration said.
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.
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.
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.
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.
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.
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.
Pemex Makes 500 Million Barrel Discovery
The Quesqui field is expected to be the biggest onshore find in Mexico since 1987.
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.
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.
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.
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.
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.
PRMS Classifications: Updated Methodology for Resource Inventory Management
This paper presents a methodology that provides the upstream industry with a robust approach to petroleum inventory management.
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.
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.
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.
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.
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.
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.
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).
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.
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.
Don't miss out on the latest technology delivered to your email weekly. Sign up for the JPT newsletter. If you are not logged in, you will receive a confirmation email that you will need to click on to confirm you want to receive the newsletter.
16 January 2020
13 January 2020
14 January 2020
15 January 2020