Production ///

Technical advances solve a variety of offshore problems

As was the case last year, nearly all of this group of new technologies and next-generation improvements on existing products remains split between drilling and production applications.

OTC Spotlight on New Technology Awards: Offshore industry innovates despite muted activity

Offshore investments may still be slow to accelerate, but that hasn’t stopped companies from ramping up R&D efforts to create a safer, more efficient and more productive offshore industry.

What will it take to keep up with shale gas boom? $170 billion

Bottlenecks on the U.S. natural gas super highway are starting to stack up, raising concerns about whether infrastructure can be built fast enough to meet surging supplies.

OPEC political crises threaten to double its million-barrel cut

The 2016 OPEC initiative to clear surplus supply was successful. By year-end, the group could lose the same amount of crude unintentionally.

U.S. oil debt eases as drillers target next shale play

U.S. oil and gas producers expect their borrowing ability to increase over the next few months, leaving them open to invest in new shale assets, particularly the Eagle Ford in Texas.

BP commits to two new North Sea developments

BP has committed to two new North Sea developments which are expected to produce 30,000 bbl gross boed at peak production.

Austria increases Russian gas imports by 77% since the start of 2018

A working meeting between Alexey Miller, chairman of the Gazprom management committee, and Rainer Seele, chairman of the executive board of OMV, took place in St. Petersburg on April 9.

Saudi Arabia is said to signal ambition for $80-oil

Saudi Arabia wants to get oil prices near $80/bbl to pay for the government’s policy agenda and support the valuation Aramco before an initial public offering.

Adnoc plans first competitive tender for oil and gas blocks

Adnoc will issue its first competitive tender for partners to develop O&G, as the government-owned producer seeks to increase production in the UAE.

EIA: U.S. oil production growth projected to be led by light, sweet crude oil

Recent growth in U.S. crude oil production has been primarily light, sweet crude oil, defined as having an API gravity of 35 or higher and sulfur content of 0.3% or less. These light, sweet crudes, which are produced from tight resource formations, accounted for up nearly 90% of the 3.1-MMbpd growth in production from 2010 to 2017.

Panoro Energy reports successful completion of first production well at Tortue

Panoro Energy has announced the successful drilling and completion of the first development well, DTM-2H, in Tortue field, within the Dussafu PSC, offshore Gabon.

Rystad Energy: U.S. oilfield services have more to lose than Chinese peers amid trade tensions

U.S. and Chinese based oil & gas steel fabricators have been some of the first companies within the industry to be impacted by the countries playing high-stakes poker through targeted tariffs, Rystad Energy research shows.

Cyberattack puts pipeline industry in hot seat

A cyberattack on U.S. natural gas pipelines has lawmakers considering tighter regulation.

China's ENN to cautiously consider Harbour's $10.3-billion Santos offer

Chinese company ENN said it will consider a $10.3-billion takeover from U.S. suitor Harbour Energy for Santos Australian LNG exporter.

ExxonMobil sparks IMF concern with weighty returns in Guyana

ExxonMobil got such a favorable deal from Guyana, the country should rewrite its tax laws, the IMF said.

Drillers boost rig activity again as crude production soars

Shale drillers boosted drilling activity in the U.S. oil patch to the highest in three years even as American crude output touched unprecedented levels.

Summer of LNG starts with a bang in UK as U.S. ramps up

The start of spring has heralded the return of liquefied natural gas to the UK.

After targeting U.S. farms, China can strike America's shale

China’s tariffs in one corner of the energy market signal U.S. shale fields may follow the nation’s farms as a target if a trade war escalates.

EIA: U.S. production grew 5% in 2017, likely leading to record 2018 output

Annual average U.S. crude oil production reached 9.3 MMbpd in 2017, an increase of 464,000 bpd from 2016 levels after declining by 551,000 bpd in 2016. In November 2017, monthly U.S. crude oil production reached 10.07 MMbpd, the highest monthly level of crude oil production in U.S. history.

Statoil's Askeladden jackup seeking its fortune at Gullfaks field

The new Cat J jackup rig Askeladden started drilling at Gullfaks field on March 26, with the goal of providing new production from old wells and exploring to create new value.