January 2017 Exclusive Story
Economic Growth In Store For 2017
America’s independent oil and gas companies see an entirely different world ahead in 2017. While offering the potential for a more conducive regulatory environment, continued technical challenges remain in all phases of exploration, drilling and production–whether boosting production from existing wells or drilling multimillion dollar laterals in unconventional plays.
Independents know oil and gas prices will seesaw while global and domestic inventories are steadily drawn down. But producers and operators, and their allied service/supply companies, certainly are gearing for the rebound. Since June 3, Baker Hughes’ U.S. land rig data show oil rigs up in 28 of 31 weeks, and natural gas rigs up in 20 of 31 weeks.
As the market moves toward equilibrium, the International Energy Agency reports OECD inventories declined 20 percent between July and October, and forecasts continuing demand growth will put global oil consumption on track to outpace supply in the first half of this year. Depleting inventories in the face of rising demand is what the industry revival is all about!
IOR, EOR and EURs
The USA is the undisputed champion of carbon dioxide EOR, as well as other improved oil recovery methods, with most of the world’s active CO2 projects concentrated in the Permian Basin. But what if operators could inject a portion of their rich multiphase production streams from shale reservoirs instead of CO2? The February issue features a summary from University of Texas researchers on using low-cost ethane sourced from U.S. shale plays to revitalize oil production in mature fields in the Mid-Continent, Illinois Basin and East Texas. It’s a brave new world!
Unconventional Resource Science, Part II
One of the defining trends in resource plays is larger volumes of proppant pumped per foot of completed lateral. Field results show higher proppant concentrations boost IPs and EURs. In February, readers will learn how Newfield Exploration uses chemical diverters and intelligent completion tools to improve proppant distribution and pack volumes within complex fracture networks. Reports also examine a West Texas case study on applying 3-D models to extract better rock property insights, and survey new coiled tubing drilling, workover and completion capabilities.
Pad Drilling & Multiphase Production
Most unconventional resource plays are characterized by multiphase flows. The February issue examines how state-of-the art multiwell pads enable “minimal footprint” development approaches based on multiphase meters and pumps in concert with centralized production facilities. Technical authorities also investigate how new lease-custody-transfer measurement solutions are improving safety and accuracy, and how sophisticated geomagnetic referencing systems optimize lateral spacing and reservoir drainage by improving directional surveying.
Gulf of Mexico Activity
After acquiring Freeport-McMoRan’s deepwater Gulf of Mexico assets, Anadarko Petroleum Corp. jumped to the top of the list of owners of deepwater floating production facilities. AOGR looks at how Anadarko is leveraging its newly expanded infrastructure to develop a large inventory of tieback prospects, including Warrior in the Miocene play. Warrior is the company’s newest discovery, and likely will be developed as a tieback to the Marco Polo facility. Other GOM discoveries from independents are indicative of an offshore revival in tandem with increased onshore operations throughout America.
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