Shale ///
“In the future, certainly we believe OPEC will be the swing producer — really, totally in control of oil prices,” Bill Thomas, CEO of EOG Resources, the biggest independent shale producer by market value, said earlier this month. “We don’t want to put OPEC in a situation where they feel threatened, like we’re taking market share while they’re propping up oil prices.”
Invoking a climate emergency could give Biden the authority to circumvent Congress and fund clean energy projects, shut down crude oil exports, suspend offshore drilling and curtail the movement of fossil fuels on pipelines, trains, and ships.
Though a repeat of the negative oil prices seen in April is unlikely, the mounting supply glut brings home how new lockdowns may soon force traders to store oil in every nook and cranny available, including ships and pipelines. Some are already doing that.
NexTier and NOV will collaborate to test the operational capability of the Ideal eFrac prototype in the field and under normal operating conditions. The agreement provides NexTier the option to transform from the test phase to the future purchase of the first Ideal eFrac fleet manufactured by NOV.
Haaland, who was just elected to her second term in the House, is a top contender for the post of Interior secretary along with retiring Senator Tom Udall. Both are Democrats from New Mexico.
Gulfport, which produces gas from fields in Ohio and Oklahoma, was grappling to stay afloat even before Covid-19, after a series of acquisitions over the past decade left it too indebted to weather the energy rout.
The latest addition to the expanding series of semi-premium products for the shale market, VAM SPRINT-FJ has emerged as a high-performance solution that allows operators to set intermediate strings at least 2,000 feet deeper with maximum clearance. Extensive teamwork produced a customized yet cost effective design—without sacrificing on performance—to meet customer’s needs.
The price to drill an acre of land in the biggest U.S. shale basin has tumbled amid the oil rout, creating conditions ripe for more mergers and acquisitions.
The easing of direct regulation of methane emissions put the energy industry in a “backwards-facing position,” while the absence of carbon pricing makes it harder to incentivize new technologies like carbon capture, Shell U.S. President Gretchen Watkins said.
The Houston-based company announced a target to reach net zero emissions from its own operations by 2040 and an ambition to do the same from customers’ use of its products by 2050, CEO Vicki Hollub said during a conference call with analysts on Tuesday.
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.
“Biden is not going to be able to ram through a costly, zero-carbon mandate through a Republican Senate. Obama couldn’t do it with control of both the House and the Senate,” said Dan Eberhart, a Republican donor and chief executive of drilling services company Canary Drilling Services LLC.
“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 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.”
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.
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.
As the U.S. presidential election cycle nears its final chapter on Tuesday, and Tuesday evening, we at World Oil think it’s appropriate to remind our fellow professionals in the U.S. oil and gas industry what is at stake.
Trump sees full-throated support for fracking as a crucial element in Pennsylvania, where he’s trailing Joe Biden and which would likely clinch the presidency for the Democrat, should he win it.
Lufkin Industries announced that it has completed the acquisition of the North American Land Rod Lift Business of Schlumberger.
Despite increased drilling activity and strong Q3 results across the board for the supermajors, Exxon Mobil spent the week slashing headcount and planning major asset sales to meet its dividend commitments.