U.S. oil producer Comstock Resources said it was facing about a 15% rise in oilfield costs but was helping to offset inflation by switching to natural gas-powered equipment.
The company activated a BJ Energy Solutions natural gas-powered frack fleet in April to offset higher costs for diesel used to power oilfield equipment.
Comstock said it had saved between $12,000 to $20,000 per fracking stage after it activated the gas-powered hydraulic fracturing fleet and that cost reductions for those well completions were around 15%.
The company recently entered into a contract to activate a second natural gas-powered fleet owned by BJ, executives said at the Enercom conference in Denver on Aug. 8.
"Even though gas is expensive right now, diesel is really expensive," said Chief Finance Officer Roland Burns.
He said the fleet had eliminated the need for about 1.4 million gallons of diesel and helped it cut around 2,000 metric tons of greenhouse gas emissions.
Recommended Reading
Kolibri Global Drills First Three SCOOP Wells in Tishomingo Field
2024-09-18 - Kolibri Global Energy reported drilling the three wells in an average 14 days, beating its estimated 20-day drilling schedule.
Matador’s U-lateral Delaware Tests Outproduce 2-mile Straight Holes
2024-10-30 - Matador Resources' results from eight Loving County, Texas, tests include two 2-mile U-turn laterals, five 2-mile straight laterals and one 1-mile straight lateral, according to state data.
E&P Highlights: Nov. 18, 2024
2024-11-18 - Here’s a roundup of the latest E&P headlines, including new discoveries in the North Sea and governmental appointments.
Classic Rock, New Wells: Permian Conventional Zones Gain Momentum
2024-12-02 - Spurned or simply ignored by the big publics, the Permian Basin’s conventional zones—the Central Basin Platform, Northwest Shelf and Eastern Shelf—remain playgrounds for independent producers.
Falcon, Tamboran Spud Second Well in Australia’s Beetaloo
2024-11-25 - Falcon Oil & Gas Ltd., with joint venture partner Tamboran, have spud a second well in the Shenandoah South Pilot Project in the Beetaloo.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.