Production ///

Perenco boosts Ivory Coast’s oil goals with operator bid

The Anglo-French oil company is seeking to buy a controlling stake in block CI-11, currently operated by a consortium that includes the state-run company Petroci, which has a 68% stake.

Vaccine news alone won’t solve OPEC’s oil output puzzle

Crude prices have rallied to a 10-week high on hopes that Moderna, Pfizer Inc. and BioNTech SE’s breakthroughs could soon revive the economic activity that underpins fuel consumption. Nonetheless, the alliance of producers led by Saudi Arabia and Russia is discussing a delay of the supply boost they’d hoped to make in January.

From chess match to streetfight: The world's courtrooms are the battleground for the future of fossil fuels

In Alaska, Michigan and Norway, partisans on the left and right are sparring in the courts to implement their vision for the future of energy. Operations from small shale plays to multi-billion-dollar offshore installations suddenly hang in the balance as the regulatory outlook becomes increasingly cloudy.

All-in for the Brazilian oil and gas industry

Ricardo Giamattey, Bruce Crager, Endeavor Management

Part 2: In this second and final installment, the authors examine a potential rebuilding of onshore production, the likely need for some offshore decommissioning, and the status of the country’s alternative fuels.

The oil field gets digitalized with fast ROIs

Manoj Nimbalkar, Weatherford

Operators cash-in near-perfect asset efficiency and long-term value

OPEC+ explores a three to six month delay on oil output hikes

Saudi Arabia and Russia, leaders of the 23-nation coalition, have already indicated publicly that they are thinking twice about easing production cuts in January as the resurgent pandemic hits fuel demand. The presidents of both Russia and the OPEC countries have even mentioned the option of cutting production deeper.

Buy time, digitalize and transition

Duncan Micklem, Yokogawa

An extremely challenging economic environment is driving digital transformation across the oil and gas industries—but it doesn’t need to happen all at once. Companies can realize major top-line and bottom-line improvements, by thinking big but starting small and scaling up, using digital twins.

Libya passing 1.1 MMbpd makes OPEC’s price-leveling job harder

The nation was producing about 1.2 million barrels a day before its energy sector was mostly shuttered in January when Khalifa Haftar, a Russian-backed commander based in the east, blockaded ports and fields.

ADNOC and TOTAL deliver first unconventional gas from the UAE

This achievement marks a significant milestone towards future full field development and is an important step towards ADNOC’s target of producing 1 billion scfd of gas from the concession before 2030, ultimately enabling gas self-sufficiency for the UAE.

Texas oil regulator acts to reduce gas flaring with new rules and incentives

The Texas Railroad Commission's action made changes to the application for flaring exceptions, reducing exception time and providing incentives to use technical alternatives to gas flaring.

Cenovus sells northern Alberta oil assets to Headwater Exploration

“This is a unique opportunity for us to partner with a well-capitalized and highly respected management team to accelerate development at Marten Hills,” said Alex Pourbaix, Cenovus President & CEO.

OPEC’s Saudi, UAE ministers discuss output deal adjustments

“With the consensus of everybody, we could navigate with this agreement and tweak this agreement, subject to what we may see in the future,” Saudi Energy Minister Prince Abdulaziz Bin Salman said at a virtual session of the Abu Dhabi International Exhibition and Conference on Monday.

Libya passes 1 million barrel per day oil production milestone

Libya’s resurgence -- it was producing less than 100,000 barrels a day in early September -- has taken oil traders by surprise and weakened prices just as renewed coronavirus lockdowns in Europe and accelerating cases in the U.S. stifle energy use.

Weatherford smart rod-lift program redefines production strategy for 200-well field

Weatherford International announced its smart rod-lift solution, comprised of production optimization software, automation, and skilled engineers, boosted uptime 42 percent and increased production 37 percent for 40 reciprocating rod-lift wells in Sumatra, Indonesia.

Jim Wright’s win continues Republican control of Texas’ oil regulator

“Texas will determine its own energy future, and that is a future that includes an all of the above approach led by fossil fuels,” Wright said in a statement. “Together we will find new ways to improve our climate and environment.”

Diamondback CEO following a go-it-alone shale strategy

“Diamondback is not getting left behind if we don’t do anything today,” CEO Travis Stice said on the company’s third-quarter earnings call, adding that the company doesn’t need to boost scale to reduce its costs. “We prefer not to make rash decisions at the bottom of the cycle.”

Advances in seal technology drive down operating costs for chemical injection

Terry Moffat, Curtis Jabusch, Sirius Controls Inc.

Modern sealing technologies can reduce maintenance on chemical injection pumps. A case study of over 10,000 pumps shows that new, technically advanced seals outperform traditional packing seals by an order of magnitude.

A Key Consideration when Automating Large Wellpads: Is the Automation Easy to Use and Maintain in the Field?

A critically important factor in selecting an automation platform is ensuring the technology has been designed and engineered for oil and gas operations. Fit-for-purpose automation technologies are much more likely to deliver superior performance long term while providing an optimal user experience.

A Key Consideration when Automating Large Wellpads: Does the Automation Platform Provide Truly Integrated Measurement Capability?

As companies look to their future in an uncertain environment, selecting the right automation and measurement platform becomes a critical decision that can deliver real operational cost savings by reducing complexity, allowing for more flexible engineering practices, and providing the tools necessary to employ truly standardized approaches across the organization and asset base.

China raises oil quota 20 percent to leverage low oil prices

Against a backdrop of sagging demand and signs of growing supply, the world’s biggest oil buyer raised the quota for use of overseas oil by non-state entities next year by more than 20% versus 2020, according to an announcement from the Ministry of Commerce.