EIA: US natgas production to decline by 2024, while demand will rise to record levels
The U.S. Energy Information Administration's (EIA) Short-Term Energy Outlook for 2024 predicts that natural gas production in the United States will decrease in 2024, while demand will reach a new record. EIA projects that dry gas production in the US will fall from a record high of 103.8 billion cubic foot per day (bcfd), in 2023, to 103.4 bcfd by 2024. This…
Shell Opts for Subsea Compression on Ormen Lange Phase 3
Norske Shell, the Norwegian subsidiary of Royal Dutch Shell, announced it has decided to go with subsea compression as a concept for the Ormen Lange Phase 3 to increase the recovery rate from the reservoir."This is an important choice, where we have evaluated a number of alternative concepts. Subsea compression will result in a significant increase in what is possible to produce from Norway's second largest gas field…
Shell to Go Ahead with Shearwater Gas Expansion
Royal Dutch Shell said on Monday it would expand the Shearwater gas hub in the British North Sea, its seventh project to get the green light in the ageing basin this year.The project, a joint venture with Exxon Mobil and BP, will include a modification of the Shearwater platform to allow production and processing of wet gas as well as the construction of a 23 mile (37 kilometer) pipeline from the Fulmar Gas Line (FGL) to Shearwater, Shell said in
Emerson Launches Salinity Measurement System
Emerson Automation Solutions launched the Roxar Salinity Measurement System for the sensitive, accurate and real-time measurement of saline water in gas production well streams at the Offshore Technology Conference (OTC) in Houston this week. Through the new system, operators can instantly identify changes in the flow stream and the smallest amounts of saline water at never previously achieved levels of sensitivity.
Proserv Seals Subsea Contract with Premier Oil
Energy services company Proserv said it has been awarded a multimillion dollar contract with Premier Oil for subsea work in Asia Pacific. Proserv will supply a subsea control system and associated equipment for the BIGP (Bison, Iguana & Gajah Puteri) development project, located in the Natuna Sea, Indonesia. The scope of supply is a three well subsea control system…
SapuraKencana Bags Contracts of RM 1.34 bln
SapuraKencana Petroleum Berhad’s wholly-owned subsidiaries have been awarded contracts with a combined value of approximately USD 300 million (approximately RM 1.34 billion, based on USD/MYR exchange rate of USD1: RM4.47). Award of Provision of Underwater Services by PETRONAS Carigali Sdn. Bhd. SapuraKencana Subsea Services Sdn. Bhd. (“SKSS”) has been awarded a contract for the provision of underwater services for PETRONAS Carigali Sdn. Bhd.
Emerson Introduces Roxar Multiphase Flow Meter
Emerson Automation Solutions has introduced the Roxar MPFM 2600 M multiphase flow meter. The Roxar MPFM 2600 M is a flexible and easily manageable wellhead measurement solution based on a field-proven technology platform. The meter meets the needs of many challenging applications and can be a cost effective solution for more constrained budgets. The meter is ideal for customers with direct and continuous wellhead multiphase flow monitoring needs.
Drillsearch Market Update
Against a backdrop of uncertainty in global commodity markets and the company’s proposed merger with Beach, Drillsearch continues to perform strongly at an operational level. Production during the first half of FY2016 was 1.63 mmboe, with the Western Flank Oil Fairway operations (Drillsearch 60%; Beach 40% and Operator) and the Western Wet Gas joint venture with Beach (Drillsearch 50%) both performing ahead of budget.
LCK - Initial PRMS ISG Gas Resources Certification
Leigh Creek Energy (LCK) announced having achievemed a 2C SPE-PRMS ISG gas resource of 2,963.9 PJ at its flagship Leigh Creek Energy Project (LCEP) reported in accordance with the Society of Petroleum Engineers - Petroleum Resources Management System (PRMS). PRMS is the internationally recognized standard for reporting oil and gas resources and reserves. All numbers quoted represent MHA’s opinion of gas energy recoverable at the LCEP.
Drillsearch Production from Wet Gas JV Begins
Drillsearch Energy Limited (ASX: DLS) announces the start of production from the company’s Western Wet Gas joint venture with Santos Limited in the Cooper Basin (Drillsearch 40%, Santos 60% and Operator). The joint venture with Santos is Drillsearch’s second producing Wet Gas joint venture, after the Western Wet Gas joint venture with Beach Energy. The tie-in of Cadenza is part of an active program of Wet Gas connections underway in FY2016.
Diesel Prices Pressured by Poor Demand, High Stocks
Reported stocks of crude and refined fuels continue to climb in the United States, pressuring on oil prices, but the stock build is concentrated in specific parts of the complex. Most of the stock build has occurred in crude petroleum and the middle distillates used for road diesel and home heating oil, while gasoline stocks have remained relatively normal. The…
Beach, Drillsearch Merger
Beach Energy Limited and Drillsearch Energy Limited announced that they have entered into a binding Merger Implementation Agreement that will create the leading mid-cap ASX oil and gas company through an all-scrip merger. Under the terms of the agreement, Beach has agreed to acquire all of the shares in Drillsearch that it does not already own4 via a Scheme of Arrangement (the Scheme).
Statoil Starts Subsea Gas Compression at Gullfaks
The unique technology will increase recovery by 22 million barrels of oil equivalent (oe) and extend plateau production by around two years from the Gullfaks South Brent reservoir. “We are very proud that we have been able to complete such a demanding pioneering project with start-up ahead of the original plan,” says Margareth Øvrum, executive vice president for Technology, Projects & Drilling (TPD).
Statoil, Partners Start Subsea Gas Compression
The unique technology will increase recovery by 22 million barrels of oil equivalent (oe) and extend plateau production by around two years from the Gullfaks South Brent reservoir. “We are very proud that we have been able to complete such a demanding pioneering project with start-up ahead of the original plan,” says Margareth Øvrum, executive vice president for Technology, Projects & Drilling (TPD).
PBF's Delaware Cat Cracker Down for a Month
A key gasoline-making unit at PBF Energy Inc's 182,200-barrel-per-day (bpd) Delaware City, Delaware, refinery is expected to be shut for at least a month - and possibly much longer - following an explosion and fire on Friday, a source familiar with plant operations said on Sunday. The unexpected shutdown of the 65,000-bpd fluid catalytic cracker comes as U.S.
First Subsea Wet Gas Compressor Installed
After several years of technology development, construction and testing the first subsea wet gas compressor in the world is now installed at the Gullfaks C platform in the North Sea. In May and June Gullfaks subsea compressor project (GSC) completed successful structure and module installation campaigns for the subsea station. The compressors were installed at the end of June.
Emerson Launches Subsea Wet Gas Meter
Emerson Process Management has launched its next generation Roxar subsea Wetgas Meter for accurate production measurement, reduced risk, and improved flow assurance in gas and gas condensate fields. Hydrates, corrosion, scaling and water coning in the reservoir represent the biggest challenges to offshore gas producers and are all caused by formation water breakthrough into the well.
Gas Industry Lessons for U.S. Oil Producers
The United States produced a record 25.7 trillion cubic feet of natural gas in 2014 according to preliminary estimates published by the Energy Information Administration (EIA) on Feb 27. Gas production has risen 27 percent since 2008 even though the number of rigs employed drilling for gas has declined by more than 80 percent over the same period (http://link.reuters.com/sub34w).
Drillsearch's profits Dive
Australia's Drillsearch Energy saw profits slump in the first half of the current financial year as lower oil prices led to write-downs and lower revenues. Drillsearch Managing Director Brad Lingo said, “Drillsearch ended the first half in a solid financial position, however the decline in the oil price and the subsequent lowering of forward oil curve expectations have given us cause to review our priorities, and how we allocate our cash.
Drillsearch - January Update
Drillsearch announced the company's drilling report for the month of January 2015. Drilling continued on the Western Flank Oil Fairway (Drillsearch 60%, Beach 40% and Operator) with the Sandhurst-1 exploration well in PRL 156 (formerly PEL 91) which targeted the top Namur Sandstone. Operator) drilled the Ralgnal-1 exploration well in PRL 130 (formerly PEL 106, see map).
