A major portion of the overall increase in U.S. onshore gas production in 2002 came from stripper wells, which produce 60,000 cubic feet of gas per day or less, according to the Interstate Oil and Gas Compact Commission (IOGCC). The IOGCC released a preview of its annual survey of these marginal oil and gas wells recently. While stripper wells collectively represent 10% of the gas produced onshore the Lower 48, they accounted for 43% of the overall increase in production during the last year, the IOGCC survey indicates. "At a time when demand for natural gas is rising, it is clear that we need look no further than our own backyard for the increase in supply our nation needs," says New Mexico Gov. Bill Richardson, IOGCC chairman-elect. Marginal gas production increased in 2002 by 64.8 billion cubic feet (Bcf) to 1.42 trillion cubic feet (Tcf). Overall domestic onshore gas production increased by 149.2 Bcf to 14.26 Tcf. Production from marginal oil wells increased in 2002 as well. A marginal oil well produces 10 barrels of oil per day or less. Marginal oil production increased by 7.7 million barrels in 2002 to 323.78 million barrels. Overall domestic onshore oil production declined, however, by 28.9 million barrels to 1.08 billion barrels. -Petroleum Finance Week
April US Shale Production Set to Rise to Highest Since December 2019
2023-03-13 - Crude output in the Permian Basin in Texas and New Mexico, the biggest U.S. shale oil basin, is expected to rise to 5.62 MMbbl/d. Though that would be a record high, oil output from the region is expected to gain by 26,000 bbl/d from the previous month, it’s also the smallest increase since last December, the data showed.
TotalEnergies Gives Lapa South-West the Green Light
2023-01-17 - The subsea tieback offshore Brazil is expected to go onstream in 2025, producing to the Lapa FPSO, which has produced the field since 2016.
Eni Discovers Gas Offshore Egypt in Eastern Mediterranean Sea
2023-01-17 - Eni affiliate IEOC Production BV holds a 45% interest in the Nargis-1 well.
China's CNOOC Discovers Oilfield in Bohai Sea
2023-03-01 - CNOOC's discovery has been tested to produce an average of around 2,040 bbl of crude and 11.25 MMcf/d of natural gas.
Devon Energy Lowers Q4 Outlook Due to Winter Weather Impact
2023-01-10 - Devon Energy's expected fourth quarter production fell by 15,000 boe/d to 636,000 boe/d due to negative weather impacts but has since restored the affected operations.