Production ///

Stagnating output hands Pemex its biggest loss in two years

Petroleos Mexicanos reported its biggest quarterly loss in two years as production growth stalled.

Overcoming small organic barriers could reap larger oil recoveries in shale reservoirs

Nancy Luedke, Texas A&M University

Researchers at Texas A&M University have found that the presence of a fossilized organic substance called kerogen plays a vital role in how easily carbon dioxide can travel through shale reservoirs.

Shell moving ahead in Mexico deepwater, with production to wait for a new government

Shell is pushing ahead on its massive deep-water drilling plan in Mexico, even as it doesn’t foresee production starting under the current government.

Exxon hits 15-year low prior to new strategy rollout

Exxon Mobil fell to a 15-year low on Monday just over a week before CEO Darren Woods is scheduled to present the oil explorer’s long-term strategic plan to investors and analysts.

BP’s “net zero” climate plan doesn’t quite add up

New BP CEO Bernard Looney's new climate plan needs an asterisk after "net zero", as the plan appears to fail to account for reduction of Scope 3 emissions.

Rosneft shifts exports to affiliate, skirting U.S. sanctions on Venezuela

There are already signs that the latest U.S. sanctions thrown at Venezuela are failing.

2020 Forecast - U.S. oil and gas production

Staff, World Oil

U.S. crude output surges, overproduction wallops gas prices

Innovative strategy increases profitability of ultra-deepwater fields

Roy Shilling, Chuck White, Vamsee Achanta, Paul Hyatt, Howard Day, Frontier Deepwater Appraisal Solutions LLC

To solve complex issues related to developing deepwater reserves in the GOM, a common-sense approach utilizing appropriate technology enables operators to profitably capture critical dynamic reservoir data and increase ultimate recovery.

What's new in production

Don Francis, Contributing Editor

Optimizing perforation cluster efficiency

Chevron reports lowest reserve-replacement ratio since 2010

Chevron’s future growth prospects may be dimming after the oil explorer pumped more crude than it discovered or bought last year, eroding its portfolio of untapped fields.

IntelliView introduces automated methane leak detection system

The fixed-format optical gas imaging (OGI) camera is first to integrate the GF77a Gas Find IR, FLIR System’s first uncooled infrared sensor spectrally filtered to visualize methane, sulfur dioxide and nitrous oxide in any lighting condition.

Texas regulator says stricter flaring rules would increase global CO₂ levels

Texas Railroad Commissioner Ryan Sitton recommends a new methodology for measuring gas flaring, saying that acting based on current measurements would only increase greenhouse gas emissions worldwide.

Neptune announces first gas from Dutch North Sea well

Neptune Energy announced first gas from the new L5a-D4 well in the deepest producing gas field of the Dutch North Sea.

Special Focus: 2020 Forecast - International Drilling and Production

Staff, World Oil

Improved offshore activity, coupled with significant conventional oil development programs operated by NOCs, should push drilling marginally higher in 2020.

ADNOC awards Petrofac $1.65B Dalma Gas Development contract

Petrofac Emirates has been awarded two contracts, together worth around US$1.65 billion with Abu Dhabi National Oil Company in the United Arab Emirates.

Ghana approves Tullow gas-flaring request to support offshore development

Ghana’s agreement with Tullow entitles the West African nation to free deliveries of gas that the company extracts with crude from its fields.

OPEC cuts forecast as virus dents China’s oil demand

The cartel reduced projections for demand growth in the first quarter by 440,000 barrels a day, or about a third, in its monthly report.

IDEX acquires Flow Management Devices LLC in all-cash deal

IDEX Corporation has entered into a definitive agreement to acquire Flow Management Devices, LLC, a privately-held provider of flow measurement systems that ensure custody transfer accuracy in the oil and gas industry, for cash consideration of $125 million, before closing adjustments.

Daily Brief podcast, Tuesday, February 11th

In today's episode, we look at what the coronavirus is doing to Chinese gas demand, and the rare steps China is taking in response; gas prices in the U.S. fall to a four-year low; and oil holds around $50 in spite of OPEC's inaction.

BP awards Oceaneering two light well intervention projects offshore Angola

BP has awarded Oceaneering a contract to provide comprehensive riserless light well intervention services offshore Angola in Blocks 18 and 31.