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Andrew McMurray, CEO of ShearFRAC, said, “Enverus was the obvious choice for us as a technology service business in the oil field services space. EVOLVE 2025 is more than a conference—it is a catalyst and full-fledged experience,” said Manuj Nikhanj, CEO of Enverus. Enverus customers joined in explaining how they were benefiting from EVOLVE.
bbl between 2017 and 2019, according to BMO. Prices have begun to climb because after years of heavy drilling in the top shale fields, the most productive areas have been exhausted. At the time, they classified the Canadian operations as among their more expensive, and therefore less profitable, projects worldwide.
As fields age, they generate higher water to oil ratios. In some mature fields, 10 barrels of water are generated for every barrel of oil produced. However, it is becoming a problem in some onshore fields. This could force operators to stop production in previously profitable fields. This was driven by two factors.
The project includes new subsea infrastructure that will increase recoverable volumes by 40 – 50 million bbl of oil equivalent. Johan Sverdrup is the largest oil-producing field in Norway and ranks among the world’s most carbon-efficient oil fields. The field is operated by Equinor, with Aker BP holding a 31.6%
million bbl of oil equivalent in Triassic reservoir rocks. The appraisal well was drilled approximately 22 km north-east of the Heidrun field and 270 km north of Kristiansund. The Slagugle oil discovery was initially proven in 2020, with preliminary estimates suggesting resources in the range of 30.8 - 61.6
Key integration wins : Lowered corporate breakeven to $37/bbl 2–3% well cost savings via procurement efficiencies 7-day average spud-to-TD times on 13,000’ laterals The strategic goal? In Q2 2025, the company dropped three drilling rigs and one completion crew, shaving $400 million off its capital budget.
While we have seen no material impact on Shaikan Field operations to date, we are closely monitoring the developing conflict between Israel and Iran. By John Lee. The Company has performed well in the year to date, with robust local sales demand enabling gross average production of c.44,900
These sites likely support field compression, produced gas handling, tank batteries, or saltwater disposal—each requiring state-issued air permits for compliance under TCEQ (Texas Commission on Environmental Quality) standards.
(Oil & Gas 360) – Calgary, Alberta (May14, 2025) Strathcona Resources Ltd. Strathcona or the Company) (TSX: SCR) is pleased to announce that it has entered into definitive agreements to sell substantially all of its Montney assets for approximately $2.84 Tourmaline) for $291.5 Strathcona has $5.5
The operational performance delivered from the Tawke and Peshkabir fields, together with the significant cost efficiency, continues to set these fields apart from others in the region.
Saudi Arabia is home to the Jafurah gas field, the largest liquid-rich shale gas play in the Middle East, estimated to contain more than 200 trillion scf of gas and 75bn bbl of condensates. While Abu Dhabi holds an estimated 220 bbl of unconventional oil and 460 Tcf of unconventional gas in place.
This is expected to add about 7,500 barrels per day (bbl/d) and increase the total production of Ras Gharib fields to 9,000 bbl/d, driven by the efforts of GPCs engineers and technicians. It supports GPCs efforts and aims to maximize the utilization of its capabilities, ultimately contributing to a reduction in the import bill.
” State 36-2R well evaluation The Zephyr team has conducted an integrated post well evaluation incorporating all geological, geophysical and engineering data gathered from the State 36-2R well and from the greater field area. (the “Paradox project”).In The key results from the evaluation are set out below.
In addition, we identified the opportunity to increase injection and production in the Oungre and Torquay fields by separating produced water from each formation, since combining the fluids creates an unusable emulsion. GJ to $3.35/GJ. Boe Presentation Boe means barrel of oil equivalent.
Abdel Moneim stated that in the field of exploration and discovery, Khalda Petroleum Company achieved 10 oil discoveries during the first half of the current fiscal year. Among the most prominent of these discoveries are the West Fewebs-1X well with a production capacity of 6,400 barrels of oil per day (bbl/d) and 25.5
Bcf/d, while oil output from the formation has increased by 26,000 barrels per day ( bbl /d). 6 oil-focused wells averaged 1,056 boe /d (49% oil, 75% liquids). Magnolia Oil & Gas: All Eyes on Giddings Magnolia has committed heavily to its Giddings Field assets, which are centered in the Austin Chalk. Whos Leading the Charge?
Results summary ($ million unless stated) 2024 2023 Average Brent oil price ($/bbl) 81 82 Average realised price per barrel 35 47 Production (bopd, working interest) 19,650 12,410 Revenue 74.7 Genel Energy has announced its audited results for the year ended 31 December 2024. Production costs (17.6) (18.0) EBITDAX1 1.1 Capital expenditure 25.7
Production entitlements Production entitlements are the host government's share of production during the reporting period from the Shaikan Field operated by Gulf Keystone. By John Lee. The figures reported have been produced on an entitlement basis, rather than on a liftings basis.
So w hat to do when your client says “but I really want a Canadian-style, non-field erected, engineered, shop-built 2,500 Bbl tank”? API 650 Guideline 2,500 Bbl tanks and then truck them to site. The shipping costs tend to exceed fabrication costs. In this case it was a little bit easier.
Our combined company will include exceptional technical and support personnel from the two companies in both the office and field and an experienced Board of Directors that prioritizes sustainable and profitable growth to generate strong returns for our combined shareholders. After annual capital investments of $2.6
The Al Shaheen oilfield is a production field off the north-east coast of Qatar, 80 km north of the capital, Doha. The field is operated by North Oil Company, a joint venture between QatarEnergy (70%) and TotalEnergies (30%).
Bcf/d, while oil output from the formation has increased by 26,000 barrels per day ( bbl /d). 6 oil-focused wells averaged 1,056 boe /d (49% oil, 75% liquids). Magnolia Oil & Gas: All Eyes on Giddings Magnolia has committed heavily to its Giddings Field assets, which are centered in the Austin Chalk. Whos Leading the Charge?
While the region's mature fields are declining, new projects are helping stabilize production and extend the Gulfs viability as a key energy source. By late 2024, 12 new offshore projects were set to increase production by 0.231 MMBbl/d, helping offset declining output from aging fields. 2023 Production: ~6.0 2024 Production: 6.3
production increased versus the prior year, due to: Increased output from existing fields Higher ownership from new transactions in U.S. Production Breakdown: Oil volumes: 78,675 Bbl/day (58% of total production), up 12.1% TWh , the same as Q1 2024. BP reported Adjusted EBITDA of $8.7 billion, down from $10.3 shale basins.
bbl, with prices stabilising in a range of c.$27-$28/bbl 27-$28/bbl in H2 2024 2025 year to date (to 18 March 2025) gross average production of c.46,400 bbl (2023: $40.9/bbl) bbl) Gross operating costs per barrel decreased 21% to $4.4/bbl bbl (2023: $5.6/bbl), bbl (2023: $40.9/bbl) bbl (2023: $5.6/bbl),
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