-- Global outlays for FPSs to exceed $8 billion/year, analyst says Over the next 5 years, about 120 floating production systems (FPSs) are to be installed worldwide, involving capital expenditures of about $32 billion, according to a report released May 5 by analyst Douglas-Westwood Ltd. at the Offshore Technology Conference in Houston.
-- KeySpan, Ferus start up new liquid CO2 plant at Rimbey, Alta KeySpan Energy Canada and Ferus Gas Industries Trust, both of Calgary, have opened a $12.4 million (Can.), jointly owned carbon dioxide liquefaction facility adjacent to the KeySpan operated Rimbey gas plant in central Alberta.
-- Raymond James: US gas production continues to slide Despite a 20% increase in US drilling activity since April 2003, overall US gas production continues to drop, said St. Petersburg, Fla.-based Raymond James & Associates Inc. in a survey report released Monday.
-- US drilling dips slightly US drilling activity dipped slightly with 1,169 rotary rigs working this week, down 3 from the previous week but up from 1,059 a year ago, said officials Friday at Baker Hughes Inc.
-- Vintage completes An Nagyah #7 well in Yemen, plans pipeline, processing plant Vintage Petroleum Inc., Tulsa, has completed drilling the An Nagyah #7 appraisal well in Yemen in the S-1 Damis block to continue evaluation of the subsalt Upper Lam formation. Vintage plans seven Yemen wells in 2004 and will design and construct a pipeline and processing facility at An Nagyah by early second quarter 2005.
The challenges associated with developing unconventional resources are driving the industry to implement more efficient work flows and more cost effective formation evaluation solutions, forcing optimization at every step. Join us at AAPG or via webcast to learn how applying a comprehensive, yet fit-for-purpose evaluation approach throughout the development life cycle has helped operators maximize value and optimize production.