US upstream news

The net zero aspiration applies to Scope 1 and Scope 2 greenhouse gas emissions.

The results of the appraisal well in the Green Canyon area of the US Gulf of Mexico further define the resource potential in the central Winterfell area, with the current estimate around 100 million barrels gross.

In the second year of a COVID-influenced market, US upstream M&A rose 25% year-over-year to reach US$66 billion.

In its January Short-Term Energy Outlook (STEO), the US Energy Information Administration forecasts US crude oil production will increase for nine consecutive quarters, from 4Q21 to 2023.

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.