Production ///

Shell courts multiple suitors for its $10B Permian shale portfolio

Devon Energy and ConocoPhillips are among potential suitors studying Royal Dutch Shell's portfolio of Permian Basin oil fields, which could be worth as much as $10 billion in a sale, people familiar with the matter said. Chevron is also among companies considering bids for the assets, which are largely located in West Texas, the people said.

New Mexico’s Permian output rises – will a modest shale recovery follow?

New Mexico’s oil production surged to a record in May highlighting the Permian basin’s role as the shale industry sees some recovery from the pandemic.

Equinor and TotalEnergies exit key Venezuelan JV project

French oil company TotalEnergies SE and Norway’s Equinor ASA are exiting a key venture in Venezuela, adding to an exodus of foreign firms in recent years as the country’s energy industry has withered.

A progressive approach: Why the Permian basin tells us all we need to know about methane emissions management

Ben Linke, Baker Hughes

Permian basin oil and gas companies are taking action and driving change—adopting technologies that not only reduce fuel and operational costs, but that also help reduce emissions and protect the planet.

Shell commits to Whale development in deepwater Gulf of Mexico

The Whale development, owned by Shell Offshore Inc. and Chevron U.S.A. Inc., is expected to reach peak production of approximately 100,000 barrels of oil equivalent per day and currently has an estimated, recoverable resource volume of 490 million barrels of oil equivalent.

Brazil’s offshore revival seeks to double crude output by 2030

Outside of the U.S. and OPEC, Brazil is set to add more crude production through 2026 than any other country. It wants to double crude output by 2030 to become the world’s fifth-largest exporter, and even if it doesn't hit that target, low-cost oil plays have positioned the country well to emerge as one of the world's most important sources for production growth.

Enhancing the performance of emulsion-based friction reducers

PETROSTEP® FRB-5 is a surfactant formulation that enhances the performance of emulsion-based friction reducers (FRs) in brines. It enables operators to formulate their fracturing fluids in recycled and produced waters, resulting in lower cost and more sustainable operations.

Venezuela ignores U.S. sanctions in quest to increase oil output

Venezuela’s state-owned oil company imported a key component needed to achieve its goal of almost tripling crude production, defying U.S. efforts to isolate the Maduro regime’s grip on power.

Shell delivers first gas from Barracuda Project

Shell Trinidad and Tobago announced that production has started on Block 5C in the East Coast Marine Area in Trinidad and Tobago. This marks a significant milestone in the delivery of gas both domestically and internationally through Atlantic LNG.

Norwegian shelf activity bucks Covid trend

The activity level on the Norwegian continental shelf has been high in the first six months of the year – despite the Covid situation. Eight discoveries have been made, production remains high, and many new development projects are on the drawing board.

Iran to open oil export terminal beyond Strait of Hormuz next week

Iran plans to ship a cargo of oil from a port in the Gulf of Oman next week, its first crude export from outside the Persian Gulf and beyond the narrow, crisis-prone Strait of Hormuz.

OPEC plans Sunday oil output discussion as UAE standoff ebbs

OPEC and its allies will meet on Sunday, the latest sign that a bitter standoff between Saudi Arabia and the United Arab Emirates has been resolved.

Advanced flowback aid for oil and gas wells - PETROSTEP® ME-2

Stepan Oilfield Solutions’ PETROSTEP ME-2 flowback aid helps operators improve hydrocarbon production by enhancing the clean-up of fluids after stimulation, including polymer damage, problematic emulsions and water blocks, for example.

Oil prices hover near two-year high after OPEC+ resolves standoff

Oil fluctuated as Saudi Arabia and the United Arab Emirates were said to resolve the standoff that has prevented OPEC+ from satisfying a growing clamor for extra barrels.

Plains All American and Oryx Midstream form Permian Basin joint venture

The transaction will include all of Oryx’s Permian assets and, with the exception of Plains’ long-haul pipeline systems and certain of its intra-basin terminal assets, the vast majority of Plains’ assets located within the Permian Basin.

Expect tight oil supplies in August as key OPEC output deadline nears

One week after OPEC and its allies abandoned their meeting in acrimony, the window for an August oil-production increase is closing without any deal in sight.

Proven Demulsifiers + Interfacial Science Expertise = Consistent Field Performance

Stepan offers a diverse range of chemistry to address the dehydration, oil-water interface resolution, and desalting requirements of crude oils and their associated operational conditions.

Higher oil prices will have limited effect on U.S. crude output, EIA projects

Oil companies will produce 20,000 barrels a day more than previously forecast for this year, at 11.1 million barrels, the Energy Information Administration said in a report on July 7th.

Shale operators race to lock in hedges as OPEC pushes oil prices to multi-year highs

Favorable hedge positions represent the biggest test yet of shale’s newfound resolve to act with discipline and focus on investor returns, and avoid a return to the relentless pursuit of growth.

OPEC’s non-decision raises specter of oil markets awash in excess supply

Rally-to-rout oil price gyrations show how the cartel’s internal rifts threaten the stability of the global economic recovery amid concerns about inflation, and tarnished the group’s self-image as a reliable steward of the oil market.