US upstream news

Employment in the US oilfield services and equipment sector rose by an estimated 3069 jobs to 652 090 in January, according to preliminary data from the Bureau of Labor Statistics (BLS).

Assets to be acquired include production from over 1230 horizontal wells, 157 line of site wells, and 44 permitted wells all in the core of the Haynesville Shale.

At this early cleanup stage, Alkaid #2 is delivering hydrocarbon liquid rates near expectations over the 4000 ft unblocked section, with gas rates well above original prognosis.

The MOU aims to strengthen mutual cooperation to help enhance operational performance across North American natural gas and oil operations.

The major oil plays within the L48 region include the Permian, Bakken, Eagle Ford and DJ basins. Together, they are expected to cumulatively produce around 7.5 million bpd of crude oil in 2022.

Validere will validate and organise operational and emissions data into a consolidated platform that PureWest can utilise across multiple emission reduction initiatives.

Each custom-designed pump is powered by an electric drive motor to create an environmentally sustainable frac unit.

Comprehensive analysis calculates 125 000 undeveloped drilling locations amounting to 60 billion bbl of untapped oil and 320 Tcf of undeveloped natural gas.

Oilfield equipment, trucks, heavy equipment, and other items were auctioned in person and online. With over 71 000 catalogue views, 498 lots were sold over a single day auction, totalling over US$30 million.

US shale oil producers are in line to suffer more than US$10 billion in derivative hedging losses this year if oil prices remain around US$100 per barrel, Rystad Energy research shows.