Production
News
August 25, 2023
The national vote ordered the shutdown of the 58,000 bpd field owned by national oil company Petroecuador, within a year. But area voters in the province of Orellana voted to keep the field operating and, according to Ecuador’s constitution, that local vote takes precedence,
Article
August 2023
Data show state of U.S. oil production remains steady
News
August 24, 2023
Worldwide onshore stockpiles were seen at about 3.37 Bbbl as of Wednesday, a slump of about about 60 MMbbl from a month earlier, according to energy analytics firm Kpler. They have recovered somewhat since Aug. 15.
News
August 22, 2023
The Islamic republic expects to boost production to 3.4 MMbpd by the end of summer, according to Oil Minister Javad Owji. That would put output near Iran’s capacity limit of 3.8 MMbpd.
News
August 17, 2023
Crude oil and natural gas production as reported to the Railroad Commission of Texas for May 2023 came from 163,182 oil wells and 87,370 gas wells.
News
August 16, 2023
nverus Intelligence Research (EIR), a subsidiary of Enverus, has released its latest quarterly FundamentalEdge report focused on global drivers for oil and gas prices to 2030, the five-year oil and gas supply and demand outlook, and price forecasts.
News
August 15, 2023
State-controlled PTT Exploration & Production Pcl plans to double gas production at Erawan, its biggest field, to 800 MMcfd in early 2024, said Chief Executive Officer Montri Rawanchaikul. Output at Bongkok, its second largest, will be raised by about 10% next year, he said.
News
August 15, 2023
The drop is led by the Permian basin in West Texas and New Mexico, where output will fall for a third month to 5.8 MMbpd, its lowest level since February.
News
August 11, 2023
"It is wrong for Western environmental lobbies to interfere with Africans’ chance to build a better future with their oil and gas resources — just as the environmentalists' home countries have," writes NJ Ayuk of the African Energy Chamber.
News
August 10, 2023
Output from the Organization of Petroleum Exporting Countries tumbled last month as the kingdom implemented a unilateral cutback to shore up markets, according to a report from the group on Thursday.
News
August 09, 2023
Improving margins have already prompted producers to raise output by 26% so far this year, government data show. Ethanol margins are higher than normal because of the lower production earlier this year, according to Jordan Fife, President of BioUrja Trading in Texas.
News
August 09, 2023
Foundry will be deployed in Azule Energy's upstream oil production business to support petroleum engineers, process engineers, flow assurance engineers, and more.
News
August 09, 2023
The license extensions increase the value of Tullow’s resource base through the addition of 5 MMbbl net 2P reserves that will deliver 100% 2P reserves replacement in Gabon this year.
News
August 08, 2023
Higher-than-expected well productivity and rising crude prices will help boost U.S. production to a record 12.8 MMbpd in 2023, up from a previous forecast of 12.6 MMbpd, according to a monthly report from the U.S. Energy Information Administration released Tuesday.
News
August 04, 2023
A monitoring committee comprising the kingdom and other key OPEC nations recommended no changes to the coalition’s supply policy at an online meeting on Friday, according to a delegate, who asked not to be named because the information was private.
News
August 03, 2023
The leader of OPEC will prolong the cutback of 1 MMbpd — launched last month — into September, according to a statement on state Saudi Press Agency. That will hold output at about 9 MMbpd, the lowest level in several years.
News
August 01, 2023
Output from the Organization of Petroleum Exporting Countries plunged by 900,000 bpd last month to an average of 27.79 MMbpd, according to a Bloomberg survey. It’s the biggest reduction since the group and its allies slashed supplies during the depths of the Covid pandemic in 2020.
Webcast
Eliminating Costly Workovers to Advance in Oilfield Efficiency
August 23, 2023
Baker Hughes
Electrical submersible pumps have been in use for a long time, but conventionally they are installed inline with production tubing. By eliminating the need for a rig after the initial install of the permanent completion, customers save significant cost, reduce carbon footprint, reduce mobilization time, and minimize deferred oil production.
News
July 31, 2023
Rigs drilled 14.7 thousand kilometers of production wells in Russia from January to June, 6.6% more than planned and 8.6% more than the same period in 2022, according to data seen by Bloomberg.
News
July 26, 2023
Coretrax, a global well integrity and production optimization leader, is planning for further growth following recent project wins, with headcount rising by 20% to 300 people in the last twelve months.
News
July 26, 2023
Riyadh introduced the additional cutback this month — on top of output curbs it’s already making with fellow OPEC+ producers — to shore up oil markets against a fragile economic backdrop.
