Production
News
September 25, 2023
Costs for drilling rigs and steel used to line the inside of oil wells have come down recently, Chief Executive Officer Rick Muncrief said during an interview on Monday.
News
September 08, 2023
The latest drilling campaign entailed the drilling of six new wells, including three producing wells and three wells dedicated to water injection, as part of a secondary recovery project.
News
August 29, 2023
Geologically viable but unproven inventory is at the forefront, as high-quality drilling locations become scarce over the next decade.
News
August 28, 2023
Reinvestment rate surged to 72% in the second quarter, highs not seen since 2020, according to the study focusing on 18 companies that collectively account for about 40% of U.S. shale output.
News
August 25, 2023
Crescent Point is lowering its 2023 annual average production guidance to a range of 156,000 to 161,000 boed, which represents a reduction of approximately 4,500 boed.
Article
August 2023
Are the days of sand proppant numbered?
News
August 17, 2023
DNO restarted production at Tawke last month, and production is averaging about 40,000 bpd, according to a company statement. DNO said it had restarted the field to conduct well integrity tests and maintained output due to strong local demand.
News
August 16, 2023
This modular multi-pad infill drill program stems from a comprehensive geological, seismic, and reservoir management delineation designed to optimize recovery with optimum wells in a cost-effective manner while also aligning with planned enhanced and improved recovery techniques.
News
August 16, 2023
The firm’s conclusion that there won’t be a surge of American oil production comes after the amount of crude extracted from U.S. shale wells doubled in the past decade.
News
August 14, 2023
Pioneer Energy, Inc. have completed a successful field trial of their new Emission Control Treater (ECT) technology. The pilot demonstrated nearly complete elimination of well pad emissions with autonomous and reliable operations, and an 11.3% increase in crude yield.
News
August 14, 2023
Chesapeake has agreed to sell approximately 42,000 net acres and approximately 540 wells in the condensate rich portion of its Eagle Ford asset located in Dimmit and Webb counties, along with related property, plant and equipment.
News
August 09, 2023
Absolute emissions remained flat at 81 million metric tons of carbon dioxide, while total oil sands production rose by more than 50,000 bpd to 3.1 MMbpd, S&P said.
News
August 04, 2023
Canadian Natural will raise output from its Primrose site by 25,000 bpd in the current quarter and boost production at its Kirby oil-sands operation by 15,000 bpd in the fourth quarter, the company said Thursday.
News
August 03, 2023
During the extended Initial Phase, Maha intends to implement activities necessary to support any decision regarding Block 70’s declaration of commerciality, such as preparing a detailed plan for enhanced oil recovery, such as steam, waterflooding or other production enhancement methods.
News
August 03, 2023
Trio Petroleum Corp. announced that the first test interval that is being production-tested at the HV-1 discovery well of the South Salinas Project has tested at rates up to approximately 125 bopd with associated natural gas and water.
News
August 03, 2023
Pioneer Natural Resources Co., Occidental Petroleum Corp. and Diamondback Energy Inc. all raised production guidance in recent days largely due to wells pumping more oil than they expected. Chevron Corp. and Ovintiv Inc. also posted improved well results as productivity emerged as a top focus for shale executives, analysts and investors during second-quarter earning calls.
News
August 02, 2023
Exxon is involved in six areas of Argentina’s heralded Vaca Muerta — Spanish for Dead Cow — formation in Patagonia. The company’s plans to ramp up development of its flagship site, called Bajo del Choique-La Invernada, never really took off. Today, oil and gas production across all of its shale patches in the region is the equivalent of just 15,000 bpd.
News
August 01, 2023
Alberta’s total oil output dropped 21% to 2.71 MMbpd, the lowest since June 2016, when oil-sands producers were recovering from wildfires that shut about 1 MMbpd of capacity.
News
August 01, 2023
Texas production, which accounts for about 40% of the nation’s crude oil output, climbed to 5.49 MMbpd in the period, the highest in monthly government data going back to 1981.
News
July 31, 2023
“The future is bright,” Hamm, 77, said during an interview with Bloomberg News this month in his Oklahoma City office. “I look at it as an industry that is exciting, a lot of adventure, has a lot of potential for making great wealth.”
News
July 28, 2023
Exxon produced about 620,000 bpd in the second quarter from the world’s largest shale basin, which straddles Texas and New Mexico, while Chevron’s output increased to 772,000 bbl, the companies said Friday. Together, the companies’ Permian production now makes up nearly a quarter of the basin’s total.
