Shale news

US natural gas production grew by 9.8 billion ft3/d in 2019, a 10% increase from 2018, according to the US Energy Information Administration.

A Rystad Energy impact analysis shows that US drilled but uncompleted wells will be the first assets to be threatened by the newly formed low price environment, as their breakeven costs are now only dollars away from market prices.

The company has acquired over 320 000 gross acres and 4200 producing wells from Devon Energy.

To overcome the challenge of low recovery factors in shale reservoirs, independent global completions service company Tendeka, has launched ShaleModifier.

The company’s latest report, ‘Haynesville Shale in the US, 2019’, reveals that the increasing natural gas production from the Haynesville Shale play will propel it as the main supplier to LNG operations along the US Gulf Coast (USGC).

Emerson's Roxar 2600 Multiphase Flow Meter Performance Monitoring service provides operators with actionable recommendations to optimise meter performance and enable proactive maintenance.

Rystad Energy said that it expects further acreage restructuring and M&A activity in the industry, but emphasises that many operators have managed to combine production growth with balanced spending and debt reductions.

US Light Tight Oil (LTO) represented less than 1% of global oil supply nine years ago but now represents close to 10% of total global oil supply, a percentage which is expected to continue its ascent going forward.

The research and business intelligence company is forecasting a 4% decline in global oilfield service revenue if oil prices stay flat next year.

The OOC Oil & Gas Blockchain Consortium, whose members include Chevron Corp., ConocoPhillips, Exxon Mobil Corp., Equinor and Royal Dutch Shell, has awarded a contract to Data Gumbo to pilot blockchain technology for water handling services.