The decision is for a three-pad development instead of the originally sought five drill sites and is coupled with ConocoPhillips relinquishing 68 000 acres of existing leases.
Operations and maintenance (O&M) represented 55% of the total contracts in 4Q22, followed by procurement with 19%, and contracts with multiple scopes, such as construction, design and engineering, installation, O&M, and procurement, accounted for 13%.
The seventh annual Global Energy Talent Index has revealed that the recent gas price crisis has transformed oil and gas into the most popular sector for energy workers to join and has sent salaries soaring above pre-pandemic levels.
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.