Issue: July 2023
Special focus: Permian basin technology
Remote e-frac technology enables operators to wield high and variable power loads to slash costs and reduce emissions.
A sensor at a PDC bit measures downhole dysfunction and is used in combination with an automated dull grading system to calculate bit damage. The high-frequency data enable engineers to determine the bit design changes required to improve drilling efficiency.
Features
Integrating data analytics, smart equipment and digital twin technology optimizes drilling operations by analyzing historical data, predicting drilling issues and providing real-time monitoring. Combined, these technologies minimize mud loss and reduce NPT to lower drilling costs.
As the industry grapples with aging infrastructure, transitioning to net-zero and operating more safely, a promising solution is digital twin technology. It uses simulation software to improve operational efficiency, enhance safety, and support sustainability in such applications as optimizing regasification terminals.
Advancements in open-hole ball-activated drop systems ensure reliability, enabling operators to pump more proppant and fluid at higher rates to maximize production potential in long laterals.
In this wide-ranging interview, Chevron’s executive vice president discusses his company’s ongoing operations, future projects, embrace of lower-carbon technologies, and overall operating philosophy.
Reflecting high demand for sixth-generation, harsh-environment semisubmersible rigs, their committed utilization is sold out at 100%. Dayrates in this group are forecast to continue increasing over the next five years, with rates at or above $500,000 for contracts beginning in late 2024 and early 2025.
With growing demand and governmental legislation to cut carbon emissions, new technologies, fuels, and approaches to production of materials and products are shifting the balance of markets and global power. The Association of International Energy Negotiators’ executive director talks about the energy transition, how it affects markets, and changes to AIEN that provide a broader focus for its members.
Firms noted limited impacts from tighter credit conditions so far, and most do not expect any significant impact on their business plans through the remainder of the year.
Columns
OEUK warns that Britain’s energy security is in jeopardy
Winning
Responsibly sourced gas vs renewable natural gas
Kansas oil & gas industry focuses on value reconstruction
Back to reality
Resources
Benchmark crude prices traded in a narrow range in June as persistent global economic concerns overshadowed deepening supply cuts from OPEC+ countries.
