WASHINGTON–The number of drilled but uncompleted wells in U.S. shale plays reached the lowest level in four years in June, according to the U.S. Energy Information Administration.
HOUSTON–According to Rystad Energy data, U.S. crude oil output rebounded in the first half of the year to reach 11.45 million barrels a day in June, and is forecast to grow by another 60,000 bbl/d to average 11.51 MMbbl/d in both July and August. A dip is then expected in September and October to 11.34 MMbbl/d and 11.41 MMbbl/d, respectively.
The ultimate proof of concept in the oil and gas industry is simple: staying power. The ups and downs of commodity price cycles tend to be more cruel than kind, and in a business where the only constant is constant change, only the best stand the test of time. Welcome to the club, Devon Energy Corp.
Figuring out how to make shale formations commercially productive took heroic effort from a lot of individuals and organizations over the course of decades. It was not a single giant leap forward by a few, but countless small steps by many that progressed the science of shale gas and tight oil. Devon Energy Corp. was built in much the same manner: a half century of deals, discoveries, diligence and the occasional lucky break.
New Logistics Solutions Reduce Financial, ESG Costs Of Produced Water Disposal
July 2021 Markets & Analytics
HOUSTON–Producers in the Permian Basin shoulder the burden of safely moving produced saltwater from producing wells to injection wells. The burden increases each day, as water-to-oil ratios (WORs) grow with every new well pad and as legacy horizontal wells journey down the decline curve.
In the oil field, knowledge is power. The more the industry learns about the subsurface, the more it can optimize everything from drill bits and completion designs to enhanced oil recovery techniques, which ultimately translates to higher returns and smaller environmental footprints.