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Our base case remains that they will be done raising production once the 2.2 Back in May, Goldman had anticipated that OPEC+ would pause production hikes after an increase in July but the group carried on. million bpd of supply that they’d voluntarily held back, with about 550,000 more to go for the first tranche to be complete.
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.
Under the agreement, Expro will provide industry-leading tubular running services (TRS) and cementing services for what will be Mexico’s first deepwater oil production facility – a major milestone in the region’s energy evolution. Already a member?
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. Colin Harington intends to take part in the Director Subscription, which is expected to complete alongside the Second Placing subject to the passing of the Resolutions.
Cost to drill, complete and develop circa US$1 100 000 net, including back costs of US$236 800. Estimated success case of NPV10% circa US$10 900 000 net, based on a US$65/bbl oil price. Secondary targets productive in the immediate area include the Prue Sands, Red Fork and Base Pennsylvanian Sands. Already a member?
Brent Crude $69.46 -0.09% Natural Gas $3.52 -0.56% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS Touchstone Posts Production Numbers from Trinidad Asset by Rocky Teodoro | Rigzone Staff | Thursday, July 17, 2025 | 7:00 AM EST The acquired entity holds a 65 percent operating interest in the Central Block exploration and production license.
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. A Case Study from the Powder River Basin D. Niederhut, K. Niederhut*, G.
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.
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.
acquired Pintail Alternative Energy, aka Pintail Completions, aka Pintail Wireline. Greenwell expects to “bring an expanded pipeline of new wireline and completion technologies to market.” They do cased hole work, both vertical and horizontal production. April brought two big moves. On April 1, Atlanta, Ga.-based
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.
The goal is to confirm early-stage project readiness, technical design validity, and business-case credibility. Independent project challenge teams turn the review into a more realistic pressure test of a projectâs business case, including its scope, costs, schedule, commercial terms, and assumptions as to overall returns.
And that task, which today could take up to two or three weeks to complete, will more likely take as little as two to three hours (if not fewer) using these new tools. Automation is also helping to reduce product quality variances. By 2035, automationâs impact across consumer subsectors could begin to diverge (Exhibit 1).
An Engineering Technician in the oil and gas industry plays a crucial role in supporting engineers and other professionals in various technical tasks related to the exploration, extraction, and processing of oil and gas. This can involve hands-on work in the field or in a laboratory setting.
Perenco recently announced the completion of the tests at the depleted Leman natural gas reservoir in the Southern North Sea using Petrodec’s ERDA rig, the first rig in the UK to have achieved an approved safety case for supporting CCS operations. Already a member?
For “large” exploration and production firms — producing 10,000 bpd or more — 42% said they expected a significant decrease in the number of wells drilled. Most firms said that tariffs have increased the cost of drilling and completing a new well by 4.01% to 6%. It’s hard to imagine how much worse policies and D.C.
Environmental Specialists develop spill response plans, train personnel in spill response procedures, and oversee cleanup efforts in case of incidents. This might include incorporating renewable energy sources, implementing energy efficiency measures, and exploring ways to reduce the carbon footprint of operations.
The installation, completed earlier this year, forms part of Salunda’s growing activity in the Americas deepwater market – where its patented latch monitoring technologies have become a preferred solution for hazardous area monitoring among major operators in the area. Already a member?
Typical priorities include sharpening the value proposition to both captive and third-party clients; taking stock of distribution footprint, product range, and growth initiatives; finding the right approach to participate in alternative investments; and using technology to improve efficiency, resilience, and scalability. All Rights Reserved.
Growth in the generative AI era looks like a classic case of âtwo steps forward, one step back.â As companies come to grips with the unique complexities of gen AI, initial progress leads to reversals and redos, in some cases threatening to stop development altogether.
The second guest is Liz Hempel , a partner and leader of the firmâs product development and procurement work for industrial clients. Partner Riccardo Drentin  joins us from Jakarta, where he co-heads McKinseyâs Procurement and Product Development division in AsiaâPacific. This time itâs completely different.
(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.
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 internal technical evaluation of this well is now largely complete, prior to further review by a third party.
We are excited to execute on this unique opportunity that is immediately accretive to our per-share metrics and meets our strict criteria for acquisitions high quality acreage with exploration upside, competitive with our current inventory, gained at an attractive price, continued Yacob. About EOG Resources EOG Resources, Inc.
The companys 2023/24 proprietary 3D seismic program was fully utilized in the preparation of the report and integrates three legacy wells; the dataset provides open-hole logs, core and gas test/production data. for un-risked case. Full FDP results in capital expenditure from CHPE (2C case) of US$947.9 CanCambria Energy Corp.
The total includes 613 to drill new oil or gas wells, 15 to re-enter plugged wellbores, 5 field transfers, 1 reclass and 62 for re-completion. As is always the case, the March 2025 numbers are subject to updating and revision by the commission.
We explore how this generative AI powered tool has significantly enhanced SunRuns cloud operations and streamlined their development processes. The challenge SunRun sought to address two primary challenges: Improving development velocity: SunRun needed to significantly boost the productivity of their developer and engineering teams.
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. The Program Area consists of counties located in theWilliston Basin, although both parties may consider opportunities in otherRocky Mountainbasins upon mutual consent.
.” 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.
We provide the complete range of OCTG and other oil requirements with the highest quality standards in the industry. DIC all products are tested numerous times under technical guidance and are made from Premium quality material. These tubular products are built to withstand cruel conditions in the oil and gas industry.
Mineral lessees may be particularly concerned with whether recent production levels have maintained their leases beyond their primary terms. In Louisiana, as in most jurisdictions, production of oil or gas must be in “paying quantities” to maintain a mineral lease beyond its primary term. [1]
"For new assets, we will seek both to increase that footprint in Oman, and also acquire assets in other preferred jurisdictions that we have identified as attractive to Genel, with a focus on adding production assets that increase the cash generation and resilience of the business, and provide potential for further growth. "In EBITDAX1 1.1
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.
One such transaction involves Scout Energy Management LLC , which has acquired multiple production facilities from ConocoPhillips in Pecos and Reeves counties, Texas. The Texas Commission on Environmental Quality (TCEQ) oversees these permits to ensure that production activities adhere to state and federal environmental regulations.
On June 2, 2017 the Louisiana Second Circuit Court of Appeal affirmed a trial court’s judgment cancelling a mineral lease under Mineral Code article 140 and provided further clarity on a production in paying quantities analysis under Louisiana Mineral Code article 124. [1] Tauren Exploration, Inc. Tauren Exploration, Inc.
Ford lost $60,000 per EV in 2024, forcing automakers to scale back production. Renewable projects in the region are progressing slowly, and natural gas infrastructure is not expanding fast enough to replace oil in electricity production. However, the real-world EV market is slowing down. and Europe.
In these transactions, the Drilling Party pays for or “carries” all or a substantial portion of the Lease Party’s share of the costs of drilling and completing one or more wells on the leases (“Earning Wells”). This incentive may help the Lease Party find a willing partner to drill in an otherwise down market for drilling transactions.
Chesapeake Exploration Limited Partnership , XOG sought an interpretation of the retained acreage clause contained in an assignment to Chesapeake of XOG’s lease interests in four oil and gas leases collectively covering 1,625 acres. In this case, Chesapeake had chosen not to designate a full proration unit (i.e.,
Automated scheduling and routing minimize backtracking and fit more calls into less time, making major strides toward the goal of completing more calls before 6 p.m. In most cases, acceptance is immediate, and trucks are rolling. More than 200,000 square feet of exhibits spotlight the products and services that deliver efficiencies.
The company remains committed to capital efficiency and production optimization , with a focus on delivering value-driven growth while maintaining operational discipline. This improvement has allowed ConocoPhillips to maintain its low single-digit production growth target while reducing overall capital spending. power demand.
The Trans Energy settlement shows that exploration and production (E&P) companies need a rigorous compliance strategy for wetlands permit requirements. According to the Justice Department, the violations affected 13,000 linear feet of stream and more than an acre of wetlands.
You create energy on-site through various technologies instead of relying completely on the traditional grid. Local energy production offers businesses unprecedented control over their energy resources. Natural-gas-fired fuel cells offer reliable electricity production with lower emissions than traditional generators.
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.
Seismic data is crucial for exploration and production activities in the oil and gas sector, because it provides valuable insights into the subsurface geological structures and potential hydrocarbon reservoirs. The TGS Imaging AnyWare processing software manages the ML models from testing to production by using its HPC environment.
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