US upstream news

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.

Proserv and Trendsetter will develop solutions for their clients across both brownfield and greenfield projects.

The Merlin-2 appraisal well is targeting 652 million barrels of oil in the highly prospective N18, N19 and N20 targets.

Continental Resources’ decision to acquire Pioneer Natural Resources’ Delaware Basin assets will raise the company’s production by around 58 000 boe/d to reach 390 000 in 2022, according to GlobalData.