Network fracturing horizontal wells is efficient at the beginning of production but its advantage over multi-stage fracturing diminishes over time. Source: News
MARKET WATCH: NYMEX oil prices end 2015 down for second consecutive year
Light, sweet crude prices for February on the New York market gained modestly on Dec. 31, 2015, to settle above $37/bbl, but US oil futures prices ended the year down about 30%. It was the second consecutive year that oil prices fell on the New York market. Source: News
New analysis unifies reservoirs in northeastern Sichuan basin
Recent exploration and development of the Carboniferous system in the northeastern portion of China’s Sichuan basin has improved the data available to researchers. Further study is providing solutions to problems of identifying connectivity within the region’s gas reservoirs. Source: News
Stealing the show
At the start of a presidential election year, with the US facing fateful energy decisions and a still-populous slate of mostly smart and articulate contenders for the Republican nomination pounding issues hard, Donald Trump’s biological insults of Democratic front-runner Hillary Clinton captivate news. Good grief. Source: News
New Trinidad and Tobago government takes ‘use or lose’ exploitation stance
The newly elected Trinidad and Tobago government has announced that upstream operators will have to fully exploit their blocks or relinquish idle acreage. Source: News
Post-Macondo lessons learned still need applied, speakers agree
Although the federal government and the US oil and gas industry responded quickly and aggressively to identify and correct problems that caused the Apr. 20 Macondo deepwater well blowout and subsequent crude-oil spill into the Gulf of Mexico, it’s still not clear that safety and environmental lessons learned from the largest offshore environmental disaster in […]
Total-led venture presses on with Elk-Antelope appraisal
A joint venture led by Total SA at the proposed Elk-Antelope gas development in the eastern highlands of Papua New Guinea has decided to bring in a second rig to speed the fields appraisal program. Source: News
Kinder Morgan, BP form joint venture terminal business
Kinder Morgan Inc. (KMI) has finalized agreements with BP Products North America Inc. to acquire 15 refined products terminals and associated infrastructure in the US in a deal valued at $350 million. Source: News
MARKET WATCH: NYMEX crude oil prices fall on China’s economic numbers
Light, sweet crude oil prices for November delivery dropped more than $1/bbl Oct. 19 to settle below $46/bbl on the New York market after China released quarterly statistics showing that economic growth had fallen to 6.9% for the 3 months ended in September. Source: News
Jefferies: Reserve-based lending redeterminations 'surprisingly gentle'
Analysts with Jefferies Equity Research Americas report banks protected their oil and gas producer customers by giving them more time to improve financial health, but next year’s spring Reserve Based Lending (RBL) redeterminations likely could be tougher unless commodity prices improve. Source: News