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Shale producers are pumping more oil per dollar invested in oil fields by drilling wells with fewer rigs and using better fracing techniques, BloombergNEF said in a report published Thursday. The U.S. will increase production 4.5% to a record 13.9 MMbpd next year. View the full article
Halliburton, a major U.S. oil field services firm, experienced a cyberattack on Wednesday, affecting some of its systems, particularly at its north Houston campus and global connectivity networks. View the full article
Production from the Norwegian Continental Shelf will peak in 2025, the directorate said in a report published Wednesday. How quickly production falls will depend on whether companies can tap into resources around existing infrastructure using new technologies, as well as in less familiar regions like the Barents Sea in the far country’s far North. View the full article
Salunda’s Crew Hawk wearable technology and HaloGuard cameras can be integrated with Intellilift’s drilling software, resulting in improved safety conditions, enhanced well planning and reductions in tripping time. View the full article
This four-month extension to an existing contract will build on existing operations. The project is expected to enhance the client’s seismic data acquisition capabilities, facilitating more informed decision making. View the full article
Var’s Balder X project — extending production to 2045 — includes vessel upgrades, as well as new production and water injection wells. It had already suffered from delays associated with the Covid-19 pandemic, bad weather that complicated drilling, as well as inflation driving up the price of services. View the full article
Ovintiv’s operations in the Central basin of Utah involves drilling in about 2,600 feet of oil saturated reservoir rock, according to its website. The asset could attract interest from private equity-backed energy groups, the people said. View the full article
Production from the Norwegian Continental Shelf will peak in 2025, the directorate said in a report published Wednesday. How quickly production falls will depend on whether companies can tap into resources around existing infrastructure using new technologies, as well as in less familiar regions like the Barents Sea in the far country’s far North. View the full article
Global oil markets are poised to swing from a deficit to a surplus next quarter should OPEC+ proceed with provisional plans to bring back idled production starting in October, data last week from the International Energy Agency showed. View the full article
Oil demand by 2050 will be “well north” of 100 MMbpd and possibly exceed 110 MMbpd, CEO Greg Ebel said Tuesday in an interview at Bloomberg’s New York headquarters. That contrasts with an International Energy Agency projection that demand will decline to 97 MMbpd by mid-century. View the full article
Engineering work for the Kaskida FPU has already begun, with Audubon designing the topside and EXMAR Offshore designing the hull. View the full article
TotalEnergies CEO Patrick Pouyanne — whose company, alongside APA Corporation, is moving to develop deepwater drilling sites that hold close to 700 MMbbl of oil — said Suriname will make a “significant” contribution to the group’s cash flows as oil revenues start flowing in 2028. View the full article
OceanMight announced the sail-away of three topsides and three substructures for the MLNG FaS project. The development includes the F22,F27, and Selasih gas fields offshore Malaysia. View the full article
The agreement is targeting at least 5 MMtpa of CO2 capture and storage capacity by 2030. Its scope includes a CO2 shipping and logistics study, geophysical and geomechanical modelling, reservoir simulation and containment research while exploring the application of advanced technologies, including artificial intelligence (AI), to enhance storage capacity. View the full article
Arbol Grande is a construction and subsea vessel, delivered in 2003 with specifications tailor made for the Mexican market. The vessel has been used as an accommodation and topside maintenance support vessel for several IMR contracts involving saturation- and air diving, as well as other light construction support operations. View the full article
Williston operators have executed about 15% more refracs than those in the Eagle Ford. While results vary, EIR finds that average refracs in the Williston produce about 50% of new drill estimated ultimate recovery (EUR), outperforming the Eagle Ford’s roughly 25%. View the full article
OceanMight announced the sail-away of three topsides and three substructures for the MLNG FaS project. The development includes the F22,F27, and Selasih gas fields offshore Malaysia. View the full article
The platform is the heaviest and most powerful China-made international offshore oil and gas platform in Qingdao, Shandong. View the full article
QB Energy is acquiring the producing upstream assets, gathering and compression midstream assets and all other assets owned by Caerus in the Piceance basin. Koda is taking a similar set of assets owned by Caerus in the Uinta basin. View the full article
These platforms will enable SLB to achieve comprehensive security across its network, cloud and edge platforms, enabling thousands of domain and AI users on SLB’s Delfi digital platform to collaborate in a safe and secure environment. View the full article
Advances in the development and miniaturization of wearable biosensor technologies have introduced new possibilities for individualized heat stress management in the oil and gas industry. View the full article
This digital twin can increase production by roughly 1%. After two years of tests, the technology developed by the Brazilian company ESSS, based in Florianópolis (Santa Catarina), was validated and is ready for use. View the full article
Staatsolie believes that Block 59 has “enormous investment and risk” opportunities, as the area sits in close-proximity to other highly-anticipated deepwater finds and in part of the greater Guyana-Surniame basin. The offshore region is quickly becoming the most-watched oil and gas development, as it boasts billions of barrels of recoverable resources. View the full article
The Scarborough Energy Project has all primary environmental approvals in place, and offshore work is progressing well. The Federal Court proceedings sought an injunction to stop offshore activities for the Scarborough Energy Project. The parties have agreed to seek orders from the Court to dismiss the proceedings. View the full article
Argo Cassiopea plays a central role in Eni's strategy to increase the use of domestic natural gas for energy security and as a low-emission source. Argo Cassiopea's reserves are estimated at around 10 Bcmg, with peak annual production expected to 1.5 Bcmg. View the full article
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About this blog
I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.
I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.
Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.
Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.
