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As major North American unconventional plays approach maturity, the industry faces a critical challenge in sustaining production levels and reserve replacement. This blog post is based on the technical paper “Can Transfer Learning Be Used to Forecast Production in Frontier Basins? Download the full paper here.
Nasdaq: NEHC) (“NEHC” or the “Company”), a next-gen exploration and production platform in the Permian Basin, today announced that Texas Critical Data Centers, LLC (“TCDC”) its joint venture with Sharon AI, Inc., is a next-gen exploration and production platform unlocking the full value of its Permian Basin assets.
“Drilling of ‘Ain Dar began in 1948, with production starting in 1951 at an extraordinary rate of 15,600 barrels per day (bpd) of ‘dry oil’- which contains only a small amount of basic sediments,” the story noted. million stock tank barrels. billion barrels of oil. billion barrels of oil.
The Placing was undertaken on the back of three key recent catalysts for the Company: The Company delivered a highly successful production test on the State 36-2R well. basins; A US$100 million commitment from a major U.S. basins; A US$100 million commitment from a major U.S.-based
We saw everything from “vibe code a production forecast” demonstrations to LLMs generating reservoir engineering functions. While these proof-of-concepts showed promise, they felt more like impressive tricks than production-ready tools.
Every year billions of barrels of Produced Water (PW) are generated from oil and gas production around the world. Most of this water goes back into the producing formations via injection wells as part of IOR and EOR programs to get more production from ageing fields. As fields age, they generate higher water to oil ratios.
Perhaps all four are at work today in the wireline industry in the Permian Basin, but certainly the fourth factor—consolidation—is making itself felt. Pintail is headquartered in Midland and is a leading provider of wireline services in the Permian Basin. They do cased hole work, both vertical and horizontal production.
For engineers and project managers across the Texas energy landscape, the core challenge remains the same: how to maximize the recovery of valuable products, meet stringent quality specifications, and maintain cost-effectiveness. In the dynamic and demanding world of natural gas processing, the pursuit of efficiency is relentless.
billion more than current government estimates. This additional production could add £165 billion in economic value, with a total of £385 billion if the UK meets half its oil and gas demand from domestic sources, supporting jobs, investment, and public services across the country. These resources include: 0.5
Including GVA from the manufacture of chemicals and chemical products, the manufacture of basic metals, and the estimated GVA in the cement and lime industry within the other nonmetallic mineral products sector in 2022 for Portugal and Spain. For example, the cement industry relies on the calcination process for cement production.
(World Oil) – Elk Range Royalties has announced a landmark acquisition of a significant mineral and royalty position spanning approximately 250,000 net royalty acres (NRA) in the DJ Basin from affiliates of Occidental Petroleum (Oxy). The high-quality operator footprint enhances production visibility and long-term value creation.
The three Permian basin districts7C, 8 and 8Acomprised 67.3% As is always the case, the March 2025 numbers are subject to updating and revision by the commission. The distribution of wells in these categories was roughly the same in March, as it was in January. Compared to March 2024, last months activity was 20.3% in February, 72.4%
(Oil Price) –Back in 2017, oil production in the Permian stood at 2.2 Production growth in the most prolific shale play in the United States has been slowing already as production costs climb higher while oil prices slide lower. This will naturally affect drilling, contributing to the overall production growth slowdown.
The Permian Basin continues to see significant shifts in ownership as oil and gas operators refine their asset portfolios. One such transaction involves Scout Energy Management LLC , which has acquired multiple production facilities from ConocoPhillips in Pecos and Reeves counties, Texas. domestic energy production.
(Oil & Gas 360) Opal Coalbank consists of nine DUC wells on track for production this summer Previously announced drilling of Rusch Pad ahead of schedule Recently announced strategic hedging program in the money by ~$70 million HOUSTON, TX, April 28, 2025 (GLOBE NEWSWIRE) — Prairie Operating Co.
ConocoPhillips provided significant insights into its Permian Basin operations during its Q4 2024 earnings call, highlighting efficiency improvements, capital discipline, non-core asset sales, and potential growth opportunities tied to increasing U.S. “We dont see anything different from the acquisition case. power demand.
The Program Area consists of counties located in theWilliston Basin, although both parties may consider opportunities in otherRocky Mountainbasins upon mutual consent. The Investor may elect to participate in opportunities at its discretion, on a case-by-case basis, after conducting its own financial and technical verification.
This acquisition combines large, premier acreage positions in the Utica, creating a third foundational play for EOG alongside our Delaware Basin and Eagle Ford assets, said Ezra Y. Pro forma production totals 275,000 barrels of oil equivalent per day creating a leading producer in the Utica shale play.
In addition, the Company also provides initial results related to hydrocarbon production in the first quarter of 2025 (“Q1”)from its non-operated asset portfolio in theWilliston Basin,North DakotaandMontana,U.S.(the The resulting properties were then used to build a numerical model to generate production forecasts.
Production from Latin America represents just a sliver of overall supply. That mine is owned by Mosaic, who will give the mine a small increase in production in 2024 from 350,000 tonnes to 400K. But that is about to change when Brazil Potash’s Autazes mine lifts off into production. Getting to production is the challenge.
” Strategic Rationale Solidified Position Within the Large-Cap Universe: The combined company will have an enterprise value of $15 billion 1 and 370,000 boe/d 2 (63% liquids) of corporate production with significant overlap across both unconventional and conventional assets. million acres in Alberta.
The highlights and links to the papers are here: Enhancing Production Efficiency: The Impact of Precision Targeting in the Midland Basin We highlighted the production and economic effects of the landing zone and the benefits of landing wells in the top half of the Lower Spraberry Shale or high in the Jo Mill.
Lets explore why drilling time estimates are a persistent challengeand how DDRs help reduce the uncertainty. Optimistic assumptions: Planners frequently underestimate non-productive time (NPT) and overestimate rate of penetration (ROP), especially in complex wells. These learnings are fed back into planning for continuous improvement.
In this blog, well explore the most common pitfalls in DDR reporting and how companies can improve their data collection and cost tracking. Non-Productive Time (NPT) Billing Discrepancies Many operators fail to capture and bill back Non-Productive Time (NPT) costs to contractors.
For every barrel of oil extracted in the Permian Basin, one report estimates that operators typically generate between 4-10 barrels of produced water—resulting in an estimated 3.9 However, when injection operations impact nearby productive formations, the legal consequences can be substantial and the lawsuits complex.
Recently, the Nigerian government demanded more than $60 billion in back royalties under a production sharing agreement with the supermajors operating in the country. History of oil in Nigeria Oil was first discovered in Nigeria in the mid-1950s after decades of fruitless exploration. How did this happen? Exxon comes next: the U.S.
This accuracy is crucial for reducing exploration risk and optimizing production in the energy industry. S-Cube XWI is a collection of advanced FWI methods that allow machines to extract the most detailed and accurate velocity models possible from raw signals in exploration seismic datasets.
This budget and effort should be leveraged to explore regulation and other improvements. Identifying the top of the downhole cement is foundational to a good plug job and would eliminate needless perforating and squeezing, which affects casing integrity. Running a bond log for each plug candidate should be considered.
Delaware Basin Resources LLC , 08-20-00060-CV, the Court of Appeals for the Eighth District of Texas (El Paso) recently held oral argument on the proper construction of the word “and” used in a Delaware Basin oil and gas lease. In Tier 1 Resources Partners et al. described as follows: Section 6. and Section 2.”
Sheffield, who controls Formentera Partners LP, told Bloomberg he is planning to delay drilling in some cases , shift focus to existing short-term drilling contracts, and return to expanding the companys uncompleted wells once the market stabilizes, given the chaos and oil price plunge caused in part by Trumps tariff warfare.
crude production, which could easily push crude prices lowerinto this second quarter of 2025, as supply would likely then outpace demand. In this favorable environment, private companies in multiple basins realized significant returns for their investors by exiting their commitments. President Trump is calling on OPEC to increase U.S.
Investors are turning to private oil and gas companies, such as Aresco LP , to explore direct investments in exploration and development projects. For many in the industry, these policies limited growth and deterred investment in domestic energy production. interests domestically and abroad. Over the past few years, U.S.
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