The company has launched a new, more streamlined SPM™ Simplified Frac Iron System.
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The solution combines Halliburton’s all-electric fracturing spread with VoltaGrid’s power generation system.
The properties being sold include non-operated interests in over 400 producing wells (65.9 net) with recent production of greater than 4500 net boe/d (approximately 65% oil).
A report from Rystad Energy concludes that a surge in growth from Vaca Muerta is poised to lift Argentina’s country-wide oil production to the highest level in years, with the play’s competitiveness also rising against US basins.
Shell’s Permian business includes ownership in approximately 225 000 net acres with current production of around 175 000 boe/d.
Most US shale producers are being conservative in their production and capital guidance, as priorities remain around protecting balance sheets and generating free cash flow, according to GlobalData.
The electric fracturing solution reduced emissions for Chesapeake in the Marcellus by 32% and applied over 25 megawatts of lower-carbon power generation by leveraging Chesapeake’s local field gas network.
The number of ‘live’ drilled but uncompleted wells in the US’s major oil regions slumped to 2381 wells in June 2021, the lowest level since 2013, analysis by Rystad indicates.
According to GlobalData’s latest report, ‘Bakken Shale in the US, 2021 – Oil and Gas Shale Market Analysis and Outlook to 2025’, Bakken Shale accounted for a mere 11% of oil and 2.8% of natural gas production in the US Lower 48 for 2020, which is a drop from 12% for crude oil and 3% for natural gas in 2019.