Oil companies eyeing the Great Australian Bight have long battled opposition from green groups concerned about potential damage to fishing towns.
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.
Saudi Arabia fought a price war aimed at putting the U.S. shale industry out of business just six years ago, which ultimately failed. Now, the country has adopted the techniques developed in U.S. fields.
Following Mark Papa’s retirement, the board of Permian shale operator Centennial Resource Development has decided to separate the roles of chairman and CEO.
The approach leverages sound waves to give operators eyes inside their wellbores.
Hart Energy's exclusive rig counts measure drilling intensity. They exclude units classified as rigging up or rigging down, and also exclude rigs drilling injection wells, disposal wells or geothermal wells. They are designed to offer the most accurate picture of what is actually occurring in the field.
The company said output would reach about 2.2 billion cubic feet per day of sales gas by 2036, with an associated 425 million cubic feet per day of ethane.
At DUG Bakken and Rockies, shale executives acknowledged the headwinds, but remained optimistic about the opportunities in the Powder River Basin, the Bakken and, yes, even Colorado.