Seismic stimulation advances EOR technology

Seismic stimulation can arrest oil production decline rates in mature fields. The method has proved effective on diatomite, sandstone, and carbonate reservoirs. It holds promise as an alternative to refracturing in shale plays. Source: News


Integrity management improves long-term profitability in aging assets

As offshore production facilities near the end of their design-lives, operators often increase focus on maintaining asset integrity. Some mature fields could deliver additional resources with more efficient production assets, but achieving this goal can be problematic without an asset integrity management (AIM) program. Source: News


Norway remains active, UK seeks change

Like most offshore regions, the North Sea is experiencing a temporary slowdown in exploration and development (E&D). Source: News


TAEP: Tough times 'not over' for Texas oil, gas industry

Crude oil prices in Texas averaged $45.19/bbl in June, marking the fourth straight monthly increase since the average monthly price fell to a low of $27.08/bbl in February. Source: News


Mature basins enter final phase

The UK Continental Shelf (UKCS) is home to more than 4,000 wells drilled since the passing of the country’s Continental Shelf Act in 1964. More than £50 billion has been invested in the last half-century, and the UKCS has produced more than 45 billion boe during the same period. Source: News


The energy platforms-Conclusion: Three third parties

Among the five US political parties on general-election ballots in 10 or more states this year, the Green Party has by far the longest platform on energy and the environment. Source: News


US oil, gas producers post 1Q net loss on weak commodity prices

A sample of 90 US-based oil and gas producers and refiners posted a combined net loss of $17.74 billion for this year’s first quarter compared with a combined net loss of $7.05 billion for the same period in 2015. Source: News


ExxonMobil to acquire InterOil in deal valued above $2.5 billion

ExxonMobil Corp. has agreed to acquire all outstanding shares of InterOil Corp. for more than $2.5 billion. The deal is expected to close in September. Oil Search Ltd. in turn has withdrawn from its InterOil takeover attempt. An initial agreement between Oil Search and InterOil was announced in May (OGJ Online, May 20, 2016). Source: […]