In the same week that Shell agreed to explore for shale oil in China, BP is reported to be exiting its two Sichuan basin shale gas blocks. Wood Mackenzie eastern Asia upstream research analyst, Xianhui Zhang, provides commentary.
EIA’s Annual Energy Outlook 2019 (AEO2019) Reference case projects that U.S. tight oil production will continue to increase through 2030, ultimately reaching more than 10 million bpd in the early 2030s.
During 2018 Eagle Ford re-emerged as one of the lucrative destinations for oil and gas companies, according to GlobalData.
Oil majors are readying themselves for the energy transition by investing in shale and waiting for renewable technology to be economical, according to Rystad Energy.
Increasing investment towards exploration and production of unconventional resources due to rising concern towards rapid depletion of conventional resources will drive the hydraulic fracturing market size during the forecast period.
Baker Hughes, a GE company, has announced the introduction of its MILLITE™ lightweight frac plug, which mills out more smoothly and cleans up better than other conventional frac plugs, cutting costs and helping customers achieve first oil faster.
StimPlan is a complete and integrated software solution for hydraulic fracture design, analysis and optimisation.
Service companies exposed to the offshore subsea market and the maintenance, modifications and operations (MMO) sector are set to benefit from this trend reversal.
Following a drastic drop in the Waha Hub natural gas price earlier this week, Adrian Lara, Senior Oil and Gas Analyst at GlobalData, offers his view on the impact on the upstream sector.
The Vaca Muerta Shale Basin in Argentina is the only unconventional play outside of North America where activity has already made the transition from exploration to full-scale development.
The company announced today that it has begun to see natural gas flow to the surface from its shale exploration well at the Preston New Road site.
Production in the area, which spans Texas and New Mexico, could reach 5.4 million boe per day by 2023, putting it ahead of every OPEC country except Saudi Arabia.