US upstream news

Rystad Energy’s initial assessment of Hurricane Ida’s impact on US oil production and refinery capacity estimates a peak daily supply curtailment of 1.8 million bpd in the Gulf of Mexico.

Once delivered from the shipyard, the Deepwater Atlas is expected to commence operations at the Shenandoah project in 3Q22, with the initial drilling programme expected to last approximately 255 days.

According to Vaalco, compared to the current FPSO solution the Cap Diamant FSO will reduce storage and offloading costs at the Etame field offshore Gabon by almost 50%, as well as lower total operating costs by approximately 17% to 20% through to 2030.

The new service expands the depth detection range and improves resolution compared to existing services, while utilising cloud and digital solutions to offer reservoir insights.

Most US shale producers are being conservative in their production and capital guidance, as priorities remain around protecting balance sheets and generating free cash flow, according to GlobalData.

The electric fracturing solution reduced emissions for Chesapeake in the Marcellus by 32% and applied over 25 megawatts of lower-carbon power generation by leveraging Chesapeake’s local field gas network.

Williams will also provide crude oil transportation services as well as onshore natural gas processing services for the Whale development, located approximately 10 miles from the Shell-operated Perdido host facility.

The number of ‘live’ drilled but uncompleted wells in the US’s major oil regions slumped to 2381 wells in June 2021, the lowest level since 2013, analysis by Rystad indicates.

The cash and stock transaction is valued at approximately US$788 million.

Jeff Gustavson has been named president of Chevron New Energies, which will intially focus on commercialisation opportunities in hydrogen, carbon capture and offsets and support of ongoing growth in biofuels.