Production ///

Energy Web Atlas launches EWA Techlink spatial research tool

Gulf Energy Information announced the availability of EWA TechLink, a new spatial research tool pairing comprehensive technical content with detailed project data.

OPEC sees growing supply threat from rivals beyond U.S. shale

OPEC’s latest forecasts suggested a weaker outlook for global oil markets this year as surging supplies from competitors from Norway to Guyana threaten the group’s efforts to defend crude prices.

Shale discipline could slow U.S. oil output growth by 50% this year

U.S. oil output growth could decelerate by more than 50% next year as greater capital discipline cuts drilling rigs in America’s largest shale patch.

Gardner Denver field trials new Thunder 5000 HP Quintuplex pump

Gardner Denver Petroleum & Industrial Pumps has entered into a six-month field trial of its new Thunder 5000 HP Quintuplex pump, at STEP Energy Services in Alberta, Canada.

Equinor awarded 23 new production licenses on the Norwegian continental shelf

“The award enables us to mature new prospects and prove profitable resources that can be developed within the scope of our new climate roadmap for the Norwegian continental shelf,” said Nick Ashton, Equinor’s senior vice president for exploration in Norway and the UK.

OPEC+ members stay focused on production cuts despite Mideast unrest

Saudi Arabia’s energy minister said that OPEC and its allies remain focused on using production cuts to reduce oil inventories to normal levels, undeterred by the flare up of political tensions in the Middle East.

Mexico makes oil hedge data a state secret to thwart speculators

Mexico has made key data on its sovereign oil hedge a state secret to shield the information from speculators and prevent cost increases, according to official documents seen by Bloomberg.

Hedge fund that won big shorting U.S. shale is bullish on Canada

After big wins shorting U.S. shale, a hedge fund is turning its sights on the beaten-down Canadian oil sector.

Canada’s Cenovus joins oil-sands producers targeting net zero emissions

Cenovus Energy Inc. joined some of its oil-sands peers in setting a goal of reaching net-zero emissions from its operations, part of a push to improve the industry’s reputation and win over environmentally minded investors.

Equinor to extend Statfjord field life with 100 new wells

Equinor and its partners in Norway’s Statfjord area have identified and approved plans to extend production from the field towards 2040.

Canadian crude weakness returns after Alberta eases output limits

Alberta’s government has loosened output limits imposed at the start of 2019 to counter a glut caused by a lack of pipeline capacity and too much oil production. Before the cuts, Western Canadian Select’s discount to WTI has grown as wide as $50 a barrel.

Nissan Chemical nanoparticle treatment delivers EOR results

Nissan Chemical America Corporation has partnered with industrial gas supplier, Messer Americas, to improve oil and gas production.

BP reshapes its UK North Sea portfolio with $625 million asset sale

BP has agreed terms to sell its interests in the Andrew area in the central UK North Sea and its non-operating interest in the Shearwater field.

Oil buyers fear Iraqi supply hit, in spillover from Iran crisis

Oil buyers in Asia are increasingly wary that Iraq’s entanglement in the worsening dispute between the U.S. and Iran could disrupt shipments from one of their key Middle East suppliers.

Equinor targets near-zero emissions in Norway by 2050

In 2050, Equinor expects Norwegian oil and gas production to be less than half of current levels, assuming development of defined projects and substantial efforts to increase production from existing fields and continued exploration.

Permian pipeline competition accelerates as capacity exceeds supply

Five new oil pipelines are set to open in the Permian Basin through 2021, expanding a gap between production and takeaway capacity that’s already spurring midstream rate cuts and could mean cutthroat competition ahead.

Noble Energy’s first gas from Leviathan comes in $150M under budget

The first phase of development consists of four production wells producing through two 18-inch, 73-mile subsea tiebacks to a processing platform offshore northern Israel.

Israel’s Leviathan gas field brings energy security, health concerns

A decade after its discovery was lauded as a guarantor of Israel’s energy security, the giant Leviathan natural-gas field started production Tuesday. But instead of anticipating a coal-free future, residents living near the gas platform have abandoned their homes for a day.

The Permian gas production problem worsens

America’s top shale field is becoming increasingly gassy as drilling slows down, undercutting profits for explorers at a time when investors are demanding better returns.

Analysts see few surprises in 2020 as OPEC+ cuts trim surplus

Oil prices are likely to remain in check during 2020 as OPEC+ production cuts are offset by higher output from other countries and a mixed outlook for demand, according to analysts.