US upstream news

Rystad Energy said that it expects further acreage restructuring and M&A activity in the industry, but emphasises that many operators have managed to combine production growth with balanced spending and debt reductions.

The JV will pursue acquisitions of producing oil and gas assets across the Permian Basin where Henry Resources has operated for over 50 years.

Developed to operate in hostile environments up to 325°C (617°F), the UHT Dimension tool provides two continuous independent perpendicular measurements (X and Y) of the internal diameter of the casing.

Miller will be based in Houston and will focus on business development within the energy and private equity sectors.

The company will work with BP to drill and evaluate the Puma West prospect , while it has acquired from ExxonMobil the Hershey prospect.

CGG Multi-Client & New Ventures have been applying seismic technology in the Delaware Basin to overcome the challenge of a near-surface evaporite formation.

The report has also found that that only 39% of asset managers already implement advanced digital methods of maintenance and risk management, of which 26% are using risk-based inspection (RBI) and 13% are using reliability centred maintenance (RCM).

The technology will help oil production companies, especially operating in cold climate regions, overcome the challenges associated with the transportation of waxy crude oils and the mitigation of wax deposition.

The biggest M&A deal of 2Q19 was Occidental Petroleum’s acquisition of Anadarko Petroleum for US$55 billion.

US Light Tight Oil (LTO) represented less than 1% of global oil supply nine years ago but now represents close to 10% of total global oil supply, a percentage which is expected to continue its ascent going forward.