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US DUC inventory likely to shrink over next 8-12 months
Many drilled but uncompleted (DUC) oil horizontal wells across US shale plays will become commercial if light, sweet crude oil prices remain at $40-50/bbl on the New York Mercantile Exchange. Source: News
Wood Mackenzie says Delaware basin oil offers economic potential
At least one analyst believes the Wolfcamp shale, particularly the Delaware basin within the Permian basin, offers among the best economic potential of tight oil plays to help sustain US operators through distressed oil prices. Source: News
BHP eliminates intermediate casing string in Permian pilot
BHP Billiton Petroleum eliminated an intermediate casing string in a Permian basin pilot by switching to an oil-based mud (OBM) from a water-based mud. Source: News
Cross-border reserves development benefits from collaboration on rules, fiscal regimes
Framework agreements for transboundary hydrocarbon resources (THR) can provide access to new acreage in potentially attractive areas. Source: News
Iran seeks field revitalization, new development
The National Iranian Oil Co. (NIOC) aims to boost production by 1 million b/d from green fields. In the absence of production data, the only viable method to estimate a field’s production potential is reservoir modeling, which is time-consuming. Source: News
Report estimates losses if US adopts 'keep-it-in-the-ground' policy
It would cost the US an estimated $11.3 billion/year of royalties, 380,000 jobs, and $70 billion/year of gross domestic product if proposals to stop oil, natural gas, and coal extraction from federal lands and offshore water were adopted, the US Chamber of Commerce’s Institute for 21st Century Energy said in a recent report. Source: News
Biden pledges continued US support for Baltic States' energy progress
US Vice-President Joseph R. Biden Jr. applauded the three Baltic nations’ recent energy diversification progress and pledged continued US support for Latvia, Lithuania, and Estonia. Source: News
OGJ100 posts lower 2015 earnings, higher oil production
The OGJ100 list allows comparison of size and performance of prominent oil and gas companies around the world. OGJ does not attempt to rank the firms by assets or revenues because many do not report financial results. Source: News
OGJ150 suffered huge losses in 2015; capital spending, reserves down
A steep, dramatic downturn in oil and natural gas prices maintained its momentum in 2015, making for a challenging year for the OGJ150 group of US oil and gas producers. Source: News