Reservoir characterization through production history matching can lead to significant increases in economic return.
Panelists agreed there are, however, exceptions. And costs could run from thousands to millions of dollars depending on services needed to restart production.
Aker BP will be the first user of the new technology Optime Subsea has developed that removes umbilical controlled tubing hanger operations, the company said on May 29.
Brazilian state-run oil firm Petrobras has begun a long-term test in the Forno area in the Albacora Field in the presalt region of the Campos Basin, the company said in a securities filing May 17.
The 4D solution offers oil and gas operators keen seismic monitoring of subsurface movements from a single source and a single receiver, SpotLight CEO Habib Al Khatib said in this exclusive interview.
The solution enables operators to self-install their real-time wireless downhole monitoring system without requiring specialist engineers onsite.
The company reported the discovery of oil from a well west of the Horseshoe discovery and hydrocarbon pay from a sidetrack.
Otto Energy CEO Matthew Allen now believes there is potential to significantly improve the “already large gas and condensate accumulation” in the Lightning Field onshore Texas in Matagorda County.
The latest in rotary steerable systems, drillbits, expandable liners, LWD and unconventional logging tools is cutting costs and providing valuable downhole data to operators.
The new recoverable resource estimate, which jumped by 2 Bboe, excludes the Uaru discovery.