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Rig Optimization: Despite fewer rigs (reduced from five to four), accelerated drilling speed and improved completion efficiency are keeping production targets intact. High-Quality Rock, Diverse Windows: From oil to condensate to dry gas, the basin offers commodity flexibility.
The workshop discussed the future of the Zohr field project and production sustainability, with a focus on the third phase of the project. This phase involves the use of a floating processing unit in the offshore well area, located 220 km from the shore, to separate natural gas and condensates.
This plan represents a continued, albeit measured, program – likely equating to about 1–2 drillingrigs running. Indeed, industry data indicates Ovintiv added an extra rig in Oklahoma early 2025 as gas prices improved.) For instance, in 2021–22 when public, Continental was spending nearly half its drilling budget in Oklahoma.
A Multi-Pronged Strategy to Sustain Growth Beyond Tight Oils Crown Jewel The transformation of the United States into a global energy powerhouse over the past two decades is inseparable from the fracking-led renaissance of the Permian Basin. million b/d. Is There Such a Thing as Too Much Permian?
Torquay Waterflood Update As part of our commitment to long-term sustainability, Saturn continued to invest in our waterflood projects during the quarter. This ranking, determined by compound annual growth rate in revenue between 2020 and 2023, highlights the success of Saturns blueprint for sustainable growth.
The drillers arent just seeking natural gas, but rather the associated liquids such as condensate, which is blended with oil sands bitumen to allow it to flow through pipelines and commands stronger pricing than Canadian crude, Rix said. as well, where Precision Drilling Corp. a drillingrig contractor operating in Canada, the U.S.
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