Shale
News
August 03, 2023
Pioneer Natural Resources Co., Occidental Petroleum Corp. and Diamondback Energy Inc. all raised production guidance in recent days largely due to wells pumping more oil than they expected. Chevron Corp. and Ovintiv Inc. also posted improved well results as productivity emerged as a top focus for shale executives, analysts and investors during second-quarter earning calls.
News
August 02, 2023
Exxon is involved in six areas of Argentina’s heralded Vaca Muerta — Spanish for Dead Cow — formation in Patagonia. The company’s plans to ramp up development of its flagship site, called Bajo del Choique-La Invernada, never really took off. Today, oil and gas production across all of its shale patches in the region is the equivalent of just 15,000 bpd.
News
August 01, 2023
The SS1H well, which will include a horizontal section of approximately 1,000 m, will target the Amungee Member B-shale at an estimated target depth of 3,200 m (approximately 700 m deeper than the Amungee NW-2H (“A2H”) well in EP 98).
News
July 28, 2023
Exxon produced about 620,000 bpd in the second quarter from the world’s largest shale basin, which straddles Texas and New Mexico, while Chevron’s output increased to 772,000 bbl, the companies said Friday. Together, the companies’ Permian production now makes up nearly a quarter of the basin’s total.
News
July 21, 2023
China National Petroleum Corp. on Thursday began drilling the Shendi Chuanke 1 Well in Sichuan province, with a designed depth of 10,520 meters (6.5 miles). The project follows a similar sized well that CNPC began drilling in Xinjiang in May, described at the time as the deepest ever undertaken in China.
News
June 02, 2023
“There’s just a lot of oil being left in the ground,” Chief Executive Officer Darren Woods said Thursday at the Bernstein Strategic Decisions conference. “Fracing’s been around for a really long time, but the science of fracking is not well understood.”
Article
May 2023
Two innovative shale oil EOR processes offer greater simplicity, and lower capital expenditure and operating costs, compared to natural gas or CO2 EOR. Advanced compositional reservoir simulation modeling is used during operation to ensure maximum oil recovery.
News
May 16, 2023
The peak month production rate of the Rosa Unit #647H, located in Rio Arriba County, NM, has surpassed all wells drilled in the San Juan basin over the last 50 years.
News
May 03, 2023
The addition of Chesapeake's assets and operations in south Texas is part of INEOS Energy’s strategy to build a global integrated portfolio, fit for the energy transition, offering high-quality, energy solutions to its customers.
News
April 27, 2023
The 30-well Barnett shale drilling program totaled 96 miles drilled. The average lateral length was approximately 8,200 feet per well, with average spud to rig release under 13 days.
Article
April 2023
Long distance delivery
News
April 26, 2023
Companies are seeking to bulk up and consolidate, particularly in the Permian basin, the largest and most productive oil field in the U.S., industry experts say.
Article
April 2023
In what proved to be a prescient, albeit conservative, prognostication, the former IHS Markit (now S&P Global) issued a forecast in 2018 that the Permian basin would hit the 5.4-MMbpd production mark in 2023.
News
April 12, 2023
The company is working with a financial adviser to seek a buyer for assets around Pecos County, Texas according to people familiar with the matter, who asked not to be identified because the process is confidential.
News
April 08, 2023
Exxon has also discussed a potential tie-up with at least one other company, as the operator hunts for a blockbuster deal in shale, according to the newspaper.
News
April 03, 2023
Even though drillers are flush with cash after record profits last year, U.S. producers are unlikely to accelerate oil growth enough to make up for OPEC+’s surprise cuts, analysts and executives said.
News
April 03, 2023
The agreement comes as U.S. shale output growth slows as drillers run out of top-tier acreage, stoking concern they won’t be able to fill the void created by OPEC production cuts and sanctions on Russian supply.
News
March 28, 2023
The purchase will add 600 drilling locations and 38,000 boe of production. The cash acquisition — which will be financed through Crescent Point’s existing credit facilities — immediately adds to key per-share cash flow metrics, the company said.
News
March 22, 2023
The A2H well was drilled to a total depth (TD) of 3,883 meters, including a 1,275-meter horizontal section within the Amungee Member B Shale in the Beetaloo Sub-Basin, Northern Territory, Australia.
News
March 22, 2023
Crude would need to rise by about 15% to $80 a bbl, and gas would have to climb by more than a third to $3 per MMbtu for drilling and frack work to maintain its current pace, Quantum Energy Partners Chief Executive Officer Wil VanLoh said in an interview.
