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Unconventional
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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MarketsSee More
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
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.
Exxon Mobil Signals Second Quarterly Loss in a Row
Exxon Mobil last quarter cut oil production by up to 400,000 bbl/d and capex by 30%, much of it in its shale business.
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.
TechnologySee More
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.
Cold Bore Technology Brett Chell Assumes New Role as CEO
Cold Bore Technology Inc., a leader in completion optimization technology, said June 30 that company co-founder and president, Brett Chell has assumed the role of CEO.
CGG, Alibaba Collaborate on Cloud Geoscience Technologies to Support E&P Industry
CGG GeoSoftware has collaborated with Alibaba Cloud to successfully deploy its suite of proprietary geoscience software solutions on the Alibaba Cloud platform, the company said on July 1.
Schlumberger Introduces Symphony Live Downhole Reservoir Testing
The technology platform enables well-testing control to deliver real-time downhole measurements.
Exploration & ProductionSee More
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.
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.
W&T Offshore CEO: Expect More Acquisitions in Future
Uncertainty, however, lingers for the oil and gas industry surrounding oil demand recovery and prices.
Talos Energy Adds to Gulf of Mexico Position with ‘Tactical’ Bolt-on
Among the acquired assets are multiple prolific, producing fields in the Gulf of Mexico Shelf that were originally discovered and/or operated by predecessor companies led by current Talos Energy management.
TransactionsSee More
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
Denmark Gives Nord Stream 2 Nod to Restart Pipeline Work
Action removes a key obstacle to bringing Russian gas to Europe.
New Trade Deal Launches Under Cloud of Disputes, Coronavirus
Tariffs against Canada and labor issues in Mexico raise concerns about USMCA.
DOE Report Touts Appalachia’s Coal, Petchem Future
Trump administration wants to create a petrochemical hub in the region.
EU Prepares Response to Nord Stream US Sanctions Threat
Commission says that the threatened US sanctions could violate international law.
MidstreamSee More
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.
Dominion, Duke Energy Cancel Atlantic Coast Pipeline
Dominion Energy and Duke Energy on July 5 announced the cancellation of the Atlantic Coast Pipeline due to ongoing delays and increasing cost uncertainty which threatens the economic viability of the project.
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.
