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Oilfield Service Technology Pitfalls And how to avoid them.

Oilfield Service Technology Pitfalls And how to avoid them.

Oilfield service is a tricky business for a number of reasons. But fluctuating demand driven by commodity prices are the root cause behind a number of the challenges executives in this industry face

Osaka purchase of Sabine marks first for Japan

Osaka Gas has agreed to acquire all the outstanding shares of Sabine Oil & Gas from Sabine Oil & Gas Holdings. Pending governmental permits and closing, the deal marks the first time a Japanese company has purchased a US-based shale gas developer.

ConocoPhillips, Wintershall to jointly develop Neuquen basin

ConocoPhillips has signed an agreement with Wintershall Dea to acquire interest in and jointly develop the Aguada Federal and Bandurria Norte blocks in the central Argentine province of Neuquen.

Analytics firm finds Permian basin statistics misleading

Oil and gas companies under-reported hydraulic fracturing activity for producing light, tight oil by more than 20% in the Permian basin during 2018, estimates Kayrros, a data analytics company serving energy markets.

Surge Energy completes 3.4-mile lateral in Permian basin

Surge Energy US Holdings Co. drilled a 3.4-mile lateral in the Permian basin’s Wolfcamp A, which the operator and contractor Basic Energy Services called the longest known lateral completed to date in the Permian basin.

190717 Syncrude Mildred Bitumen

Alberta approves Mildred Lake extension

Extension of the Mildred Lakes bitumen mine by the Syncrude Ltd. joint venture has been conditionally approved by the Alberta Energy Regulator.

Frac triples output of old Argentine well

President Energy is considering analogous work in Rio Negro Province, Argentina, after hydraulic fracturing of a tight formation tripled production from an oil well drilled in 2012.

WoodMac notes tight gas featured in China’s new unconventional gas subsidy

China’s Ministry of Finance announced a revised unconventional gas subsidy scheme, effective until 2023, Wood Mackenzie said, noting that it creates a subsidy pool to be shared by all unconventional gas producers based on their subsidy-eligible volumes.

DOE announces funding for unconventional recovery R&D

The US Department of Energy’s Fossil Energy Office has selected 12 projects to receive $44.5 million in federal funding for cost-shared research and development in advanced technologies for recovering unconventional oil and gas.

ExxonMobil proceeds with Vaca Muerta expansion

ExxonMobil Corp. announced plans to proceed with long-term oil development on Bajo del Choique-La Invernada block within Argentina’s Vaca Muerta basin. The project is expected to produce as much as 55,000 boe/d within 5 years. The project will include 90 wells, a central production complex, and export infrastructure connected to the Oldeval pipeline and refineries.

CAPP: Oil, gas investment should double

The Canadian Association of Petroleum Producers seeks federal support for a doubling over the next 4 years of now-slumping investment in Canada’s oil and gas industry. The group made conditions supporting such a recovery part of wish list for the next Canadian government. Elections are scheduled Oct. 21.

IHS Markit: Canadian oil sands production growth to slow

Canadian oil sands production growth is slowing, yet total production is expected to reach nearly 4 million b/d by 2030—nearly 1 million b/d more than current levels—according to a 10-year production forecast by IHS Markit. The business information provider expects average year-on-year supply additions will be less than 100,000 b/d in the coming decade. By contrast, growth over the current decade averaged additions of more than 150,000 b/d.

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Oil from US shale on track to rise 16% in 2019

US shale operators are on course to increase oil production markedly in 2019. The growth in US onshore production from the first quarter through the fourth quarter could come in at around 1.1-1.2 million b/d, or 16% for the full year, according to Rystad Energy.

Bitumen feed delayed for Alberta refinery

North West Redwater Partnership (NWRP) has delayed introduction of bitumen feed from Alberta’s oil sands at the first 80,000-b/d phase of its proposed three-phased greenfield bitumen refinery in Sturgeon County, about 45 km northeast of Edmonton, Alta.