Shale news

Abundant hydrocarbon reserves and the ability to drill longer laterals has made Permian Basin the most prolific shale play in the world, according to GlobalData, the data and analytics company.

The Unitized™ Lock-Ring wellhead features a standardised design for shale plays in the US that accommodates 95% of casing configurations in either 11 in. or 13-5/8 in. nominal sizes.

Borets, a leader in the engineering, manufacturing, sales and service of electric submersible pump (ESP) systems, has successfully installed its 250th permanent magnet motor (PMM) ESP system in the US.

A slump that began in late 2018 has carried over into the new year and the US$1.6 billion in 1Q19 deals is down 91% from 4Q18, and down 93% compared to 1Q18.

The transaction increases Pin Oak Energy’s acreage position across the Appalachian Basin to 167 000 net deep acres.

The concession covers the Puesto Rojas block in Mendoza province, Argentina.

The company is aiming for a gross initial flow rate of 325 bpd at the well, which would generate a free cash flow of approximately US$3.6 million and payback well costs in less than six months (assuming a price of US$60/bbl Brent)

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.

Agreement will provide proppant to industry leader.