US upstream news

Time delay fuses provide a controlled delay for operators to position perforating guns after commencing the firing sequence in a tubing-conveyed perforating operation.

Natural gas production from the Marcellus and Utica shale plays in the US is forecast to cross the 42 billion ft3/d mark by 2025, according to GlobalData.

The four contracts awarded to Valaris include a one-well contract with Kosmos Energy in the US Gulf of Mexico for semisubmersible VALARIS DPS-5.

The 168 OCS block survey began in August 2021 and is expected to be completed during the first quarter of 2022.

The US EIA forecasts that US dry natural gas production will increase from 95.1 billion ft3/d in October 2021 to 97.5 billion ft3/d by December 2022.

The most significant contributors to this steep decline were the Bakken and Permian plays, which saw reduced flaring of around 50 million ft3/d each in September.

In the first phase of the project, the companies will design and optimise the plan for satellite placement and coverage, initially focused on capturing methane emissions data from ExxonMobil operations in the Permian Basin.

The plans are part of the corporate-wide effort to reduce upstream greenhouse gas emissions intensity by 40-50% by 2030, compared to 2016 levels.

The company has set annual capital spending through 2027 at US$20 billion to US$25 billion.

In the company's upstream business, approximately US$8 billion is allocated to currently producing assets, including about US$3 billion for Permian Basin unconventional development and approximately US$1.5 billion for other shale and tight assets worldwide.