While the Russian invasion of Ukraine has increased the incentive to raise Canadian oil sands production in the short-term, it has not fundamentally altered the production outlook over the longer-term, according to the latest forecast by the S&P Global Oil Sands Dialogue. The updated 10-year forecast expects Canadian oil sands production to reach 3.5 million barrels […]
Improving Yields in Enhanced Oil Recovery
In enhanced oil recovery, a fluid—typically water with various additives—is pumped into an injection well to force additional oil out of the reservoir. This technique can double the amount of oil extracted from a well, increasing oil availability and lowering costs. However, the conditions in the injection fluid are often extreme, and the behavior of […]
Upstream M&A Declines in a Volatile Market
In its summary of 2Q22 upstream M&A, Enverus Intelligence Research (EIR), a subsidiary of Enverus, a leading energy data analytics and SaaS technology company, found that, overall, Q2 was a challenging quarter for negotiating deals as volatility roiled both commodity and equity markets. Despite that, about $12 billion was transacted in upstream M&A as numerous […]
Fears of Higher Rates and Weak Conditions Linger
Effects from the pandemic and Ukraine war continue to reverberate through the global economy. Food and energy prices remain high, though prices for underlying commodities have lost upward momentum as economic fears rise. The drop in commodity prices and recent bond yield inversions are sending up red flags about slowing economic activity and a potential […]
Water Recycling’s Rising Tide
Breakwater Energy Partners LLC announced it has further developed its commercial and noncommercial recycling network across the Midland Basin to meet rising customer demand for sustainable water solutions. Breakwater expanded its Big Spring Recycling System (BSRS) in Howard and Martin counties with two additional multi-year produced water offtake and recycling agreements. BSRS is one of the largest recycling networks in the […]
Largest-ever Bismuth Plug Deployed in Milestone Effort
Employing cutting edge technology in a challenging environment, BiSN, a supplier of sealing solutions and technology to the global oil and gas industry, recently completed its 300th deployment, helping operators solve common downhole flow issues. As part of its operations, BiSN deployed the largest bismuth plug ever created, placing the plug in a well in the […]
Q&A: Helping Operators to Optimize Production from Complex Shale Reservoirs
For shale operators, midstream companies, and gathering network or saltwater distribution network owners, it can be difficult to uncover how to get the most production and overcome operational challenges in the field. Schlumberger’s Serdar Atmaca, Business Development Manager – Digital Ops Solutions, and Nicolas Gomez Bustamante, Principal Production Engineer – Digital Ops Solutions, explain how […]
The Answer Includes the Permian Basin
In 1789 after the finalization of the U.S. Constitution establishing a separation of powers between three branches of the federal government, Benjamin Franklin penned a letter to Jean-Baptiste Leroy which included a worry that even with Franklin’s enthusiasm for the document’s permanency “…in this world nothing can be said to be certain, except death and […]
Rig count declines for third straight week in Permian – first in two years
Drilling rig count in Permian Basin continues to decline. Baker Hughes said as of Aug. 19 there were 345 rigs in Permian – down 1 in the previous week but up 98 in previous year. The decline of three straight weeks in Permian rig count is the first since Baker Hughes’ reports of July 31, […]
Phillips 66 interest in DCP Midstream increases, declines in Gray Oak
Houston-based Phillips 66 said Aug. 17 it realigned joint venture midstream assets with Enbridge. Phillips 66 realigned economic and governance interests in DCP Midstream and Gray Oak pipeline through merger of existing JVs with Enbridge. Phillips 66’s economic interest in DCP increased to 43 percent from 28 percent, and it will oversee and manage the […]
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