Check out the latest oil industry related news
04-12-2024: Regional Report: Which future for Marcellus and Utica shales?
There are multiple possible futures that lay ahead for the Marcellus and Utica shales–which ones will come to pass? The Marcellus and Utica shale formations are seen today, by both industry and government, as tremendous opportunities for companies and state governments: domestically produced energy; and jobs in the natural gas industry and associated businesses.
04-12-2024: First Oil: U.S. upstream industry relieved by Trump’s win
It goes without saying that the U.S. upstream industry is very pleased with the Nov. 5 election result. That large sound that some of you across the pond in Europe might have heard was the giant, collective sigh of relief coming from operators, service companies and drilling contractors throughout the country, as President-elect Trump is wasting no time in putting together a wide-ranging energy plan.
04-12-2024: Executive viewpoint: President-elect Trump’s path towards unleashing the economic power of American energy
The American people sent a resounding message during the 2024 election: they do not like the direction the country is headed, and they want change. With President-elect Donald J. Trump’s decisive win, and Republicans holding both branches of Congress, the time is ripe to pivot toward policies that truly benefit hardworking Americans. High energy costs, inflation, and bureaucratic red tape are issues that families and businesses confront daily, and it’s time to turn the tide.
04-12-2024: Sustainability: The relationship between upstream operations and blue hydrogen production
Blue hydrogen intersects traditional fossil fuels and the emerging low-carbon economy. For upstream companies, this convergence offers a way to participate in the energy transition and decarbonize hard-to-abate industries. In the near term, blue hydrogen will play a key role in regions with abundant natural gas and suitable CO₂ storage sites.
04-12-2024: Cutting-edge choke condition monitoring: What can we do to prevent choke failure?
Subsea choke valve failures can be costly, with component costs, subsea replacement logistics and lost production time. ClampOn’s Choke Condition Monitor (CCM) can help reduce choke failures by monitoring vibration and acoustic levels, offering operators necessary information to change choke flow and plan maintenance intervals.
04-12-2024: The ESG perspective: Living in interesting times
With President-elect Trump and his pro-oil stance set to take position in office, a new Secretary of Energy candidate who opposes much of the ESG movement, and Liberty Oil suing the SEC for overreach — are we seeing the end of the ESG movement?
02-12-2024: Automation and control: How IoT optimizes oil and gas operations
Oil and gas operations can use IoT and cellular technology to remotely monitor and optimize reservoir, well and facility performance—all while minimizing the need to physically send workers into potentially hazardous environments.
02-12-2024: Digital control architecture optimizes plunger lift wells
Advanced functionalities and high-resolution data unlock exponential increases in efficiency and optimization through total-view well intelligence, real-time diagnostics, remote monitoring and full-range automated control—all incorporated within a plug-and-play platform scaled to the economic profile of a marginal plunger lift well.
02-12-2024: Oil and gas in the capitals: Trump election boosts prospects for domestic oil industry
After four years of often irrational, counterproductive federal policymaking by the Biden/Harris administration, America’s oil and gas industry celebrated the election of Donald J. Trump (Fig. 1) to a second term in office in the Nov. 5 elections.
02-12-2024: Cognite: “Un-siloing” data with generative A.I.
As generative A.I. surges in interest, with ever-expanding applications, industry discussions focus on the best ways to take advantage of the technology. While the possible applications present a tantalizing prospect for companies, adopting the technology will require companies to carefully consider existing infrastructure and data management.
02-12-2024: Automated intelligent chemical injection technology minimizes corrosion/scaling, extends ESP run life, increases Permian production
InjectRT™, a novel intelligent chemical treatment optimization service from Baker Hughes, uses cutting-edge machine learning techniques to automatically calculate and adjust chemical injection rates in near real-time. This technology minimizes corrosion and scaling, extends the run life of ESPs, and increases production.
27-11-2024: Global natural gas balance may tighten first-quarter 2025
If Europe and Asia experience colder temperatures this winter than in the past 2 years or other operational and market risks materialize, global supply-demand balances could tighten, leading to elevated natural gas prices and potential price spikes.
17-11-2024: Supreme Court overturns Chevron deference: Potential impacts on the oil and gas industry
The U.S. Supreme Court's decision on June 28, 2024, to overturn the Chevron deference doctrine will bring significant uncertainty and potential legal challenges to oil and gas, affecting regulatory interpretations and increasing scrutiny on emissions, permitting processes and agency regulations. Companies will need to adapt to this evolving legal landscape.
08-11-2024: Supporting the development of CO2 storage sites through technology-driven solutions
Carbon capture and storage (CCS) presents both opportunities and challenges for companies with experience in the hydrocarbon sector. With net zero targets looming large, how can efficiencies be improved and costs reduced for CCS projects?
08-11-2024: U.S. footage drilled per well continues to creep higher
(WO) -- We’ve all heard plenty of evidence that U.S. operators continue to strive to drill more footage per well to maximize oil production, and World Oil research indicates that both goals are being achieved. That being said, the performance varies among some key states.
08-11-2024: Regional report: Middle East — Investment in key projects continues
(WO) – The Middle East has historically been an important contributor to the global oil and gas market, with numerous prolific reservoirs. Accordingly, analysts and investors expect to see some big changes over the next 12 months.
08-11-2024: What's new in production: Banking crisis
The economic consequences of a banking crisis, if not addressed preemptively or in time to limit the damage, are numerous and dire, and need not be detailed here. Just the same, condensate banking in a gas well can also become a productivity and economic crisis, if ignored or not properly addressed proactively.
08-11-2024: Oil's well that ends well: Recovering value, managing costs and reducing emissions during decommissioning
North Sea decommissioning costs are escalating and could exceed £20 billion, but the deployment of separation technologies represents an opportunity to significantly reduce costs and emissions while recovering valuable resources. A smarter approach can transform waste into profit, contributing to more efficient, cost-effective decommissioning efforts.
08-11-2024: Will EOR become the unsung hero of oil and gas decarbonization strategies?
The oil and gas industry has used CO2 for enhanced oil recovery (EOR) in mature reservoirs for 50 years. Now, as CCUS becomes a critical part of the industry's decarbonization strategy, lessons learned from EOR can help solve CO2-related subsurface challenges.
08-11-2024: Improving drilling performance through intelligent and automated operating parameter planning
Engineers leveraged data analytics, domain knowledge, and physics and machine-learning models to generate a depth-based optimum operating parameter roadmap automatically. This workflow enables ROP improvement and the reduction of drilling risks, becoming a key element for evolution of autonomous drilling operations and well cost reduction.
06-11-2024: The State of Hydrogen – Moving Beyond the Hype
With 2030 as the first major signpost on the energy transition roadmap, it is becoming clear that industry is not on track to meet the decarbonization goals initially laid out by governments around the world. This begs the question, is the hydrogen future all hype, or something more?
01-11-2024: US EPA OK with approval for Sentinel’s 1 million b/d-capacity Texas GulfLink port
“EPA does not object to the issuance of a license” for the project following its evaluation of its impact under the Clean Air Act, Clean Water Act, and the Marine Protection, Research and Sanctuaries Act, Zone 6 administrator Earthea Nance said.
31-10-2024: Petrobras to continue operations offshore Colombia following favorable court ruling
Petrobras International Braspetro BV – Colombia and Ecopetrol SA can continue drilling and operational activities in the Tayrona exploratory drilling area following a favorable ruling by a Colombian court.
18-10-2024: Crude prices slump as demand questions retake control
With the killing of a key Hamas leader and Israel’s pledge to not attack Iranian oil infrastructure, markets returned their focus to global demand concerns as OPEC analysts lowered their consumption growth forecasts leading to a sell-off that breached the key $70/bbl level for US crude.
14-10-2024: Gas transit via Ukraine remains a key uncertainty ahead of the winter season
The future of Russian natural gas transit via Ukraine is a key uncertainty ahead of the 2024-25 winter season, as both the transit and interconnector agreements between Russia and Ukraine are set to expire at yearend, according to the IEA.
10-10-2024: Editorial: Play the hand you’re dealt
A US President’s ability to affect oil and natural gas markets is limited. The markets are global, and any president’s jurisdiction is limited to a single country; albeit in this case the one that’s currently both the largest producer and largest consumer of oil and gas in the world.
10-10-2024: Journally Speaking: The eye in the sky
You are being watched, and more closely now than ever. Satellites have been observing the Earth’s atmosphere for decades, but recent indirect methane plume observations from satellite data required lots of interpretation and produced more than a little confusion
09-10-2024: Real-time GOM storm tracking estimates production loss
Tropical cyclones pose a great risk to human life and cause massive disruptions to hydrocarbon production in the Gulf of Mexico. To determine if or when evacuations need to take place offshore, a cyclone impact tool has been developed to process the NHC forecast data in real time to determine wind speeds at every platform.
07-10-2024: The ESG perspective: The methane problem
There has been significant emphasis on methane by the EPA lately. Simultaneously, there are many groups filing applications asking for the Supreme Court to intervene and stop some of these new rules. This adds a new level of complexity to the issue of measuring, monitoring, quantifying and reporting of methane emissions. So, let’s talk about some of this complexity.
07-10-2024: Global activity looks solid and is increasing
International activity is maintaining leisurely growth, while the U.S. continues to lag. Global oil production was up slightly in 2023, with stronger gains in the Americas. Offshore activity is buoyed by continued success in areas like Guyana, Suriname and Namibia.
07-10-2024: U.S. drilling decreases on shale consolidation, technical advancements following record production
After a year of upstream growth and success in 2023, operators are reducing costs, rig activity and drilling time in an effort to boost domestic energy security while returning cash to shareholders.
07-10-2024: First oil: Muddling through the rest of 2024 with enthusiasm for 2025
Based on the numbers our forecast, along with some anecdotal evidence from talking to industry professionals, I think it’s fair to say that the upstream industry is maintaining the status quo for the remainder of 2024, with great enthusiasm building for 2025.
07-10-2024: i3 Energy granted license term extension, company continues to evaluate Serenity field development
i3 Energy has been granted a license extension by the North Sea Transition Authority that will allow the operator more time to evaluate development options for Serenity field, the company said in early October.
04-10-2024: Understanding the impact of maintenance and reliability on ROI
By looking at inter-related metrics and how they impact the bottom line, experts can help deliver an improvement in maintenance strategies that may have traditionally been done using an “open and inspect process” on field operations and equipment—both of which are labor-intensive and higher-risk.
04-10-2024: Decarbonizing drilling operations using more efficient electrical utility power
Electrification has proven to be effective in lowering costs and the carbon footprint of drilling operations. This article provides technical analysis of highline (grid) power utilization on rigs through the lens of an innovative technology that connects a rig to a power grid, reducing Scope One emissions to nearly zero.
04-10-2024: Faster drilling speeds drive savings and efficiency in the oil patch
Operators are under great pressure to increase operational efficiencies, and drilling faster is key. However, pushing drilling equipment harder can be risky, as expensive components can be damaged by vibrations. Mitigating drilling dysfunctions caused by near-bit vibrations is crucial to increasing weight on bit (WOB), which leads to gains in ROP without compromising the drill bit or damaging the BHA.
03-10-2024: Strange things happen: EU – Europe’s Utopia, and the UK
Europe proceeds on the path to net zero carbon emissions, joined by post-Brexit UK. Not going to meet 2030 emission targets, the EU Commission doubles down, setting stricter targets for 2040. Post-Brexit UK intends to phase out all fossil fuel use by 2050.
03-10-2024: Dallas Fed: Pace of activity in U.S. upstream shows little movement
The rate of drilling and production among operators in Federal Reserve District 11 during the second quarter remained little changed from the first quarter. Amid regulatory uncertainty and unpredictable economics, companies are biding their time until the U.S. election.
03-10-2024: Management issues: Oil States pursues bullish technology push
In the belief that its growth and ability to gain market share are tied in with technology, Oil States has pursued a deliberate path of technical innovation that has seen the firm win seven OTC Spotlight on New Technology awards in recent years.
03-10-2024: Integrating digital transformation with decarbonization in the upstream sector
Discover how digitalization drives efficiency and sustainability in the upstream oil and gas industry. This article introduces insights and solutions for companies by showcasing a real-world use case that demonstrates the practical applications of digital transformation in saving energy and emissions.
03-10-2024: Regional Report – The Arctic: Activity ramps up
Arctic oil and gas investments are shaped by a dynamic interplay of regulatory approvals, geopolitical factors, and stringent environmental safeguards, with future developments contingent on political outcomes and market adaptations to environmental and energy transition pressures.
03-10-2024: From potential to progress: The role of digital solutions in advancing Africa’s NOCs
Digitalization is set to revolutionize African national oil companies (NOCs) by overcoming infrastructural, regulatory, and political challenges. By investing in tailored digital solutions and developing local talent, NOCs can significantly boost efficiency, decision-making, and production, contributing to their nations' economic progress.
03-10-2024: IPAA celebrates 95 years of achievement in representing independents
Part 1: Since 1929, the Independent Petroleum Association of America (IPAA) has advocated for, protected and defended thousands of independent producers. As the association nears its 95th Annual Meeting in October, this first of two articles examines its initial 65 years.
03-10-2024: Extending offshore platform life by producing renewable crude oil from seaweed
Seaweed biomass from the ocean can be converted to bio-crude oil to supplement declining output from depleting oil fields. The process may extend production platforms’ useful lives. It also can control sargassum blooms in the Atlantic, while providing bio-crude oil to U.S. refineries, as feedstock.
03-10-2024: Embracing the energy reality: Navigating the complex path to a sustainable future
In recent years, the global energy landscape has undergone a seismic shift. From the pre-pandemic era of "energy duality," which emphasized both affordable and cleaner energy, we have navigated through the turbulence of the pandemic and geopolitical upheavals, such as the conflict in Ukraine.
03-10-2024: Water management: Necessity is the mother of invention
This week in Midland, Texas, the Produced Water Society (PWS) held their annual Permian Basin Conference and, as usual, the topics and discussion didn’t disappoint. One of the most covered topics was the desalination of produced water and the potential uses from discharge to beneficial reuse.
03-10-2024: Interface fluidics
With hydraulic fracturing, especially in unconventional wells, the industry has moved to the “well factory” approach. I used to call that the “cookie cutter” approach, which in my mind is the same thing, but as with many (or all) industries, terminology is developed to paint a positive picture or even one suggesting advancing technology rather than stagnation.
03-10-2024: Optimism about industry’s future exuded by attendees at two trade shows in Houston
It was refreshing to attend two very different trade shows during this month and come away with a sense of optimism from the attendees at both of them. It’s easy to be pessimistic about the U.S. market, since it has been flat more most of 2024, and wonder whether international and offshore activity can carry the day.
24-09-2024: Slideshow: Ruins of the São Boaventura convent preserved in Boaventura energy complex
Petrobras initiated pre-commissioning activities for the new natural gas processing unit at its energy complex in Itaborai, Rio de Janeiro, Brazil, renamed to honor the ruins of the São Boaventura convent the company preserved inside.
19-09-2024: Gastech 2024: Natural gas, LNG positioned to help address power demand, decarbonization trends
Global power demand is expected to continue to rise and natural gas and LNG hold potential to aid in the provision of energy supply security while simultaneously working toward decarbonization targets.
19-09-2024: FERC Chairman: Court erred in tossing FERC OK of Transco’s Regional Access project
The US Court of Appeals for the District of Columbia Circuit Court erred in its decision to throw out FERC's approval of Transcontinental Gas Pipeline's Regional Energy Access expansion project, Chairman Phillips said.
16-09-2024: Federal court orders BLM to redo environmental assessment of Wyoming oil, gas project
A federal district court froze development of a 5,000-well oil and gas project on federal lands in Wyoming after it determined the Bureau of Land Management may have underestimated that project’s impact on groundwater.
11-09-2024: BSEE: 38% of GoM oil production shut-in as Hurricane Francine moves closer to Louisiana landfall
Based on data from offshore operator reports submitted as of 11:30 a.m. CDT Sept. 11, personnel have been evacuated from a total of 171 production platforms, 46% of the 371 manned platforms in the Gulf of Mexico.
04-09-2024: Enhancing well efficiency through gas lift in the U.S. with qualified oilfield chemicals
When integrated as part of a cross-functional solution encompassing the downhole tool design, chemical delivery method, and automated gas injection rate controls, chemical packages qualified for the job at hand can help operators get the most out of their wells while ensuring long-term gas lift system operation.
29-08-2024: Second-quarter 2024 earnings down from year ago on lower refining margins, gas prices
A group of 53 US-based oil and gas producers and refiners reported combined net earnings of $26.96 billion in second-quarter 2024, down from earnings of $31.79 billion in the previous year's second quarter.
23-08-2024: Technical buying leads to late-week rally for crude, natural gas struggles
Tom Seng, Ed.D., provides a weekly analysis of oil and gas markets. Dr. Seng is Assistant Professor of Professional Practice in Energy, Ralph Lowe Energy Institute, Neeley School of Business, Texas Christian University.
06-08-2024: Frac sand’s incredible journey
Frac sand and proppant supply have evolved massively over the past decade and are still changing rapidly, with new ideas and new techniques. As shale gas is developed around the world, these learnings will follow, to unlock tremendous value to global supply chains.
06-08-2024: Regional report: Guyana-Suriname: Rapid expansion of production continues
During the past 12 months, Guyana and Suriname have started to become a fulcrum of energy development in the Americas. While they are both found in the same region, these two countries still have different oil and gas stories to tell. Major production growth is imminent in Guyana, while Suriname is still a few years away from first oil but with significant future potential from recent discoveries.
06-08-2024: Electric actuation in the Permian basin
The Permian basin is the largest oil field in the U.S., but it is also one of the world’s biggest methane emitters. As producers come under pressure to cut emissions to tackle global warming, electric actuation can slash emissions, while making processes more efficient.
06-08-2024: Annular safety valves advance flexibility, reliability and safety in completion operations
By combining RFID technology with premium packer performance and exceptional safety valve reliability, gas-lift wells can be operated with the highest safety standards for the life of the well, in the latest advancements in Annular Safety Valves (ASVs).
05-08-2024: NextDecade finalizes EPC contract for Rio Grande LNG Train 4
A NextDecade Corp. subsidiary executed a lump sum turnkey engineering, procurement, and construction contract with Bechtel for construction of Train 4 and related infrastructure at the Rio Grande LNG plant under construction in Brownsville, Tex.
30-07-2024: Viaro Energy acquires certain Shell-ExxonMobil JV North Sea interests
Viaro Energy, through operating subsidiary RockRose Energy Ltd., has acquired full ownership interest in certain UK Southern North Sea assets from Shell UK Ltd. and Esso Exploration and Production UK Ltd., an ExxonMobil Corp. subsidiary.
18-07-2024: US court rulings put oil leases on hold in Alaska, Wyoming, pending environmental reviews
Two federal courts, in separate cases, ruled July 16 that US Interior Department agencies in Alaska and Wyoming could not issue oil and gas drilling permits until they conduct supplemental environmental assessments.
17-07-2024: US federal court sends Commonwealth LNG approval back to FERC for rereview, threatening plant timeline
Startup of Commonwealth LNG's proposed 9.5 million tpy plant in Cameron Parish, La., could slip after a US Court of Appeals told FERC to reevaluate approval of the project to include climate impacts.
09-07-2024: Hurricane Beryl has minimal impact on US Gulf oil, gas operations
Hurricane Beryl had minimal effects on the US Gulf Coast oil and gas industry. Marathon Galveston Bay Refinery advised the City of Texas City, Texas, that it had to flare due to a brief power disruption during the storm, but no other issues have been reported.
09-07-2024: WoodMac: Four questions answered on the future of oil demand
Wood Mackenzie projects a 1.5 million b/d increase in global oil demand in 2024, with a sizable portion of this growth expected in the latter part of the year. Amidst ongoing efforts towards achieving net-zero emissions, the persistent high demand for oil prompts questions about its future trajectory.
04-07-2024: ESP challenges in an EOR project after breakthrough: An analysis of continuous improvement for ESP designs towards the reduction of OPEX
A special project explains the symptoms of each cause of ESP failure to determine ways to improve OPEX by tracking ESP failures, ranging from 90 days up to 900 days. It performs a detailed dismantle-and-failure analysis (DIFA), combining reservoir data, tear-down information, and sampling composition analysis, triggered evidence and patterns previously not identified.
04-07-2024: Redefining oil & gas investments beyond conventional financial systems
While the natural gas market faces challenges like oversupply and political barriers to exporting, the upstream sector presents unique investment opportunities by taking a fresh perspective that considers evolving global +demand, regional dynamics, ESG factors, and unlocking value through strategic adaptation and informed decision-making.
04-07-2024: Well decommissioning: Simple solutions to complex problems
Traditionally, barrier testing and subsequent validation by a technical authority can sometimes rely on personal observations and subjectivity. HydraWell looks to strike a successful balance of its values while pushing boundaries and inventing pioneering technologies that will transform well integrity management operations around the world.
04-07-2024: Rethinking sand management for optimized production
Over the past decade, FourPhase has gathered solids management data from more than 150,000 hrs of operation. Vast amounts of data yield completely new perspectives. Rather than viewing sand production as a challenge, we recognize its positive aspects in reservoir management. Producing sand can be positive for your well, if done in a controlled manner.
04-07-2024: Leveraging artificial lift to optimize production
Artificial lift technologies, including rod lift systems, remain vital to allowing companies to maximize the ROI of older assets. Deeper, more complex, mature wells incur greater wear and tear, and upgrading rod rotators allows companies to extend rod lift systems’ operational life, minimize NPT and overall costs, and optimize production.
13-06-2024: First-quarter 2024 earnings down year-on-year on lower refining margins, natural gas prices
A group of 44 US-based oil and gas producers and refiners recorded a total net earnings of $27 billion in first-quarter 2024, down from earnings of $48.5 billion in the previous year's first quarter.
30-05-2024: Embracing automation: Oil and gas operators leverage new operational efficiencies
Wellsite automation can help make oil and gas production smarter, faster, more efficient and safer. The ability to utilize real-time data to make automatic and instantaneous adjustments can produce reductions in the days spent on frac operations and increased wellsite safety.
30-05-2024: Extracting resources from the Earth’s crust using multi-stage, fraced horizontal wells: First gas, then oil, now heat
Far too many companies are seemingly holding back on utilizing horizontal wells to access Enhanced Geothermal Systems and risk missing a golden opportunity to extract heat from the Earth’s crust.
30-05-2024: Stimulating for maximum recovery
As it approaches its 20th anniversary, Stavanger-based Fishbones finds that its stimulation methods are increasingly a regular part of operators’ toolboxes, for improving oil and gas recovery with multi-fold increases in productivity. Various case studies confirm operators’ confidence in these methods.
30-05-2024: The five A’s on the road to completions automation
As fracturing intensity continues, operators are looking for additional ways to increase efficiencies. One such solution is automation in the fracturing process. Accordingly, a platform of digital software controls and hardware enables operators to pursue automation, while executing completions safely and more efficiently.
28-05-2024: Energy Transfer signs $3.25-billion deal to add Permian gas pipeline, processing assets
Energy Transfer agreed to acquire WTG Midstream Holdings in a deal expected to provide the company with increased access to growing supplies of natural gas and NGL volumes to enhance its Permian operations and downstream businesses.
15-05-2024: Custom-made blueprint for optimizing late-life assets
Late-life management of oil and gas assets is a careful balancing act where operators weigh many evolving factors, all while tracking cessation of production and potential options that follow. Mistakes can be costly and developing a tailored asset management strategy is crucial to avoid wasting resources and ensure that assets are maximized.
15-05-2024: OTC recognizes 2024 Spotlight on New Technology® award winners
In late March, the Offshore Technology Conference (OTC) announced the winners of their 2024 Spotlight on New Technology Award. Per the organization’s announcement, “this esteemed honor is given exclusively to OTC exhibitors who are reshaping the offshore energy sector through their innovation and development of technologies.” Echoing the awards of 2023, 15 technologies were selected for their advancements in the offshore energy sector—five of these are from small companies, a slight decrease from 2023’s seven.
15-05-2024: Solutions for decarbonizing offshore power generation
Reducing reliance on hydrocarbons for power is critical to achieving near- and long-term sustainability targets. Siemens Energy is collaborating with major offshore operators to implement decarbonization strategies for electrification, automation and digitalization. This article highlights successful implementation of technologies at several projects and discusses other promising concepts under development.
15-05-2024: Taming the red zone with automation
Increasing safety and reducing injuries during drilling is gaining momentum. Automation achieves these goals in the red zone by automating risk-prone, manual tasks. Automated installation of control line clamps has increased rig floor safety. Semi- and fully automated systems will become available commercially later this year.
14-05-2024: Advancing safer deepwater drilling with an integrated managed pressure drilling/wired drill pipe service
A new event detection and management service integrates proven MPD and wired drill pipe technologies for faster detection and resolution of downhole events and safer, more efficient deepwater drilling.
09-05-2024: Elevating support technology to enhance energy production
Produced water is a significant issue for the oil and gas industry, presenting environmental and logistical challenges that require careful management and technological solutions. By implementing effective treatment and reuse techniques, operators can minimize the environmental impact of produced water and enhance their operations’ sustainability.
30-04-2024: MPLX increases y-o-y net income, places Marcellus gas processing plant into operation
MPLX LP had first-quarter 2024 net income of $1.005 billion, compared with $943 million for first-quarter 2023, and adjusted earnings of $1.635 billion, compared with $1.519 billion for first-quarter 2023.
26-04-2024: The reserves replacement dilemma: Can intelligent digital technologies fill the supply gap?
Oil reserves are being consumed faster than they’re being replaced. If the reserve replacement ratio doesn’t improve, supply could fail to meet demand before lower-carbon and new energy solutions mature. Companies rethinking strategies are using infrastructure-led exploration as a digital solution to find economically viable new prospects.
26-04-2024: Shale technology: Bayesian variable pressure decline-curve analysis for shale gas wells
A new workflow generates probabilistic history-matches and production forecasts for any decline-curve model while incorporating variable BHP conditions. It provides fast history matches and forecasts of shale gas wells more accurately than traditional DCA while quantifying model uncertainty. The primary value added is an innovative method for probabilistic variable-pressure DCA.
26-04-2024: Digital transformation/Late-life optimization: Harnessing data-driven strategies for late-life optimization
Late-life assets present a myriad of challenges that operators must tackle to ensure continued safety and integrity. Robust data management strategies play an increasingly pivotal role in optimizing asset performance in mature assets to ensure economic viability.
26-04-2024: Advancing offshore decarbonization through electrification of FPSOs
Electrification is the most practical solution for decarbonization, especially as renewable generating capacity increases and momentum to electrify vessels, including FPSOs, continues to build. However, the industry still faces headwinds, including high upfront costs, a lack of supporting infrastructure and properly trained personnel, and gaps in standards.
25-04-2024: Rystad: Russian LNG's future in jeopardy as sanctions' impact grips
Despite Western sanctions post Russia's invasion of Ukraine, Russian oil production has remained strong, but the country’s natural gas and LNG sectors are strained due to pipeline infrastructure limitations and Western dependencies, according to Rystad Energy.
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