Issue: April 2023
SPECIAL FOCUS: OFFSHORE TECHNOLOGY
Evaluating, analyzing and monitoring drill bit performance is crucial to ongoing development of new bit designs, materials optimization and component selections, which increase ROP and bit life, while reducing NPT and well costs. Digitally enabled automated offset analysis helps to visualize and understand bit performance at scale and across geographies.
Reducing GHG emissions in the oil and gas sector is a monumental challenge, but an innovative hydrogen injection scheme aims to accelerate the decarbonization process.
Having successfully used machine vision to ensure safe well operations, 4Subsea is now looking at how best to harness the technology when it comes to monitoring subsea assets.
After eight long years of difficult market conditions, offshore contractors appear headed for a multi-year recovery that should see continually improving economics and efficiencies.
Features
Efficient multi-scale methods for reservoir simulation require constructing a set of prolongation operators that interpolate solutions from a coarse spatial resolution to a grid resolution. An improved algorithm captures strong contrasts in geological properties better for this objective. Utilizing the new algorithm, operators can obtain better linear and nonlinear convergence rates than previously.
In what proved to be a prescient, albeit conservative, prognostication, the former IHS Markit (now S&P Global) issued a forecast in 2018 that the Permian basin would hit the 5.4-MMbpd production mark in 2023.
Analysis of decisions being made by energy firms globally reveals the stranded assets narrative to be little more than ill-supported talking points. Discussions at this year’s major conferences reveal a re-dedication to increased exploration and development of new oil and gas reserves.
Caveats and short-term affection
An independent operator and oil and gas investment broker provides perspective on strategies and future potential of the Permian basin, including short- and long-term forecasts for E&P opportunities in West Texas.
In this executive summary of a larger strategy outline, the U.S. Department of Energy sets out its strategic contributions toward 30 gigawatts of offshore wind power generation and beyond.
Columns
Offshore sector appears headed for a sustained run
Long distance delivery
Malaysian PM: Maintain E&P sovereignty, or capitulate to Beijing?
Bitcoin and decarbonization
Oil and gas will build tomorrow’s energy economy
Vaca Muerta poised to boom
Resources
Despite OPEC’s surprise 1-MMbopd production cut, benchmark crude prices declined in March against a backdrop of weaker-than-expected demand.
