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Exploration & Production

2020 Shale Technology Showcase

In this special section, E&P highlights the latest technologies from more than 30 companies, showcasing how these tools are used for developing shale resources and how companies will benefit from the application of these advanced tools on their operations.

Areas considered ultra-core are typically the deepest, highest pressure and lowest GOR parts of the Permian Basin, according to Wood Mackenzie. (Source: GB Hart/Shutterstock.com)

Unconventional

Research Points to Hidden Opportunities in Permian Basin

Some wells in the Permian’s Delaware sub-basin can clear a ‘10% half-cycle hurdle rate even with WTI below US$30/bbl,’ Wood Mackenzie says.

Sanchez Energy Emerges from Bankruptcy with New Name, Leadership

Restructurings

Sanchez Energy Emerges from Bankruptcy with New Name, Leadership

Following its restructuring, the company is dropping its ties to the Sanchez name, which dates back to the founding of Sanchez Oil & Gas Corp. by father and son—A. R. Sanchez Sr. and  A. R. Sanchez Jr.—in 1972.

MarketsSee More

PATH FORWARD: Why Harold Hamm Fought for Pricing of US Light, Sweet Crude

PATH FORWARD: Why Harold Hamm Fought for Pricing of US Light, Sweet Crude

There’s a new crude benchmark in town. Harold Hamm, founder and executive chairman of Continental Resources, joined Hart Energy to explain how American GulfCoast Select will help producers in the oil industry. 

Venezuela’s Oil Exports Sank in June to 77-year Low

The fall in oil exports has starved the socialist government of President Nicolas Maduro of its main source of revenue, contributing to an economic collapse.

Global Oil Demand Likely Peaked in 2019, Energy Consultancy Firm Says

Norway-based consultancy DNV GL said global energy use would be 8% lower in 2050 than previously expected due to the impact of the pandemic.

China’s Saudi Oil Imports Surge in May to All-time High

In May, Chinese refineries received their first crude cargo from the U.S. since November, of around 550,000 tonnes, the customs data released late on June 25 showed.

BusinessSee More

Powder River tankers

Private Reserves: An Outlook from Private Oil Producers

Zero- and lightly levered private operators throughout U.S. oil basins are on the lookout to buy—and not just where they operate currently. These five producers—in Wyoming, Oklahoma, Colorado and South Texas—share their plans.

Shale Drillers Squeezed as Banks Tighten Credit after Oil Crash

So far in the spring season of redeterminations, the total borrowing base for three dozen publicly listed North American oil companies has been slashed by $7.5 billion, according to a Reuters analysis.

Harold Hamm Boosts Holdings in Continental Resources

Harold Hamm said increasing his holdings in Continental Resources stock underscored his confidence in the company, the value of which he believes is currently undervalued due to the COVID-19 pandemic.

Shell to Write Down Up to $22 Billion After Coronavirus Hit

The Anglo-Dutch company has already been preparing a major overhaul after CEO Ben van Beurden laid out plans in April to reduce Shell's greenhouse gas emissions to net zero by 2050.

TechnologySee More

FutureOn

Digital Tools Aiding Offshore Interactions

Operators are overcoming remote working challenges through collaborative data visualization platforms.

Brazil’s Petrobras Hires New Satellite Service to Hasten Data Transmission

Brazilian state-run oil company Petrobras has hired a new satellite service capable of reducing data transmission timing by 75% between the company’s platforms and command centers, it said in a securities filing on July 3.

TDI

TDI-Brooks Completes GoM Coring Program for NOAA OER Expedition

TDI-Brooks was contracted by Coastal Environments Inc. and Gray & Pipe Inc., who received funding from NOAA’s Office of Ocean Exploration and Research, for this expedition on July 1.

Equinor

Equinor Awards Framework Contract for Statfjord North Sea Field

According to the agreement the parties will collaborate in new ways while carrying out the work on Statfjord safely and efficiently.

Exploration & ProductionSee More

Completions & Production: Smart Tracers Sharpen E&P Industry’s Focus on Flow Mapping

Completions & Production: Smart Tracers Sharpen E&P Industry’s Focus on Flow Mapping

By using a new, uniquely fingerprinted form of nanoparticles, E&P operators can more efficiently determine the best producing stages from the nonproducing ones in an unconventional well.

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Eyeing Recovery: Oil Sector Trends Indicate Improvement

But expect volatility as oil producers tame supply but wrestle with demand.

Why US Shale Production Declines Are Higher Than You Might Think

Why US Shale Production Declines Are Higher Than You Might Think

The natural decline rates of existing oil and gas wells across major shale plays in the U.S. will contribute to a tighter supply/demand balance.

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W&T Offshore CEO: Expect More Acquisitions in Future

Uncertainty, however, lingers for the oil and gas industry surrounding oil demand recovery and prices.

TransactionsSee More

Warren Buffett’s Berkshire Hathaway Buys Dominion Gas Business Worth Nearly $10 Billion

Warren Buffett’s Berkshire Hathaway Buys Dominion Gas Business Worth Nearly $10 Billion

The deal reflects a strategic repositioning by Dominion Energy on its regulated utility operations, according to CEO Thomas F. Farrell II, and also follows the company’s decision to cancel the Atlantic Coast Pipeline.

BP Completes Part of $5.6 Billion Alaska Sale to Hilcorp Energy

The agreement calls for Hilcorp to pay $4 billion to BP over an unspecified time, with the remaining $1.6 billion based on future earnings from the Alaskan properties.

Energy A&D Transactions from the Week of July 1, 2020

Here’s a snapshot of recent energy deals including a $5 billion divestiture by BP as the London-based major shifts its focus to low-carbon energy.

On the Market Oil and Gas Quicklist (Week of July 1, 2020)

Here’s a quicklist of oil and gas assets on the market including an operated working interest package that includes producing Barnett Shale wells.

Policy & RegulationsSee More

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Oil Industry Experts Weigh In on Methane Reduction Strategies

Best practices, better data, targets and regulations are needed to bring down global emissions levels from oil and gas operations, panelists say.

Alberta Premier Looking for US Democratic Support of Keystone XL Pipeline

Earlier this year, Alberta had said it would invest $1.1 billion in Keystone XL and back TC Energy's $4.2 billion credit facility.

usmca

New Trade Deal Launches Under Cloud of Disputes, Coronavirus

Tariffs against Canada and labor issues in Mexico raise concerns about USMCA.

petchem

DOE Report Touts Appalachia’s Coal, Petchem Future

Trump administration wants to create a petrochemical hub in the region.

MidstreamSee More

PATH FORWARD: Blackbuck Resources’ Justin Love on Company’s Different Stage, Restarting Well Resources

PATH FORWARD: CEO Justin Love on Blackbuck Resources’ Unique Position

Blackbuck Resources CEO Justin Love says a unique background and being debt-free has allowed opportunities for the Houston-based midstream company through this tumultuous time. 

Near-record Oil Stockpiles at US Gulf Coast Pressure Prices of Domestic Grades

Mars Sour, the benchmark for sour U.S. Gulf Coast grades, was trading at a $1.05 premium to U.S. crude futures on July 1.

Targa NGL Pipeline Co. Launches Open Season

Interconnection will link Oklahoma to Mont Belvieu.

Empire Pipeline Buys Louisiana Crude Oil Terminal from Shell

Though specific terms of the transaction were not disclosed, Empire Pipeline said in a statement on June 25 it acquired the Gibson termianl from affiliates of Royal Dutch Shell.