Production
News
July 24, 2024
Russia plans to make extra crude oil production cuts to compensate for pumping above its OPEC+ quota in October and November this year, then between March and September of 2025. The compensation cuts will be made to account for overproduction that has occurred from April, Russia’s Energy Ministry said in a Telegram statement.
News
July 23, 2024
The partners will transition Aker BP’s current application portfolio to the cloud and create one integrated platform for subsurface workflows. The high-performance computing speed of the cloud will enable the platform to leverage advanced AI and domain expertise from SLB and Aker BP to reveal new insights from previously untapped data, driving substantial efficiency and performance improvements.
News
July 18, 2024
The group led by Saudi Arabia and Russia agreed last month to begin gradually restoring roughly 2.2 MMbpd of halted crude oil production from October. When prices immediately slumped, officials stressed that a committee due to gather on Aug. 1 could postpone the hike if necessary.
News
July 16, 2024
The Sensori fracture monitoring service provides true, real-time data acquisition and processing of near-well and far-field subsurface measurements. Through automation, cloud processing and big data analytics, the Sensori service provides continuous, real-time subsurface feedback for multiple well pads across an entire asset.
News
July 10, 2024
The data published by OPEC’s Vienna-based secretariat on Wednesday show that three of the coalition’s biggest members still haven’t conformed to their oil production targets, let alone begun additional compensatory cuts they promised to make up for earlier cheating.
Article
June 2024
A special project explains the symptoms of each cause of ESP failure to determine ways to improve OPEX by tracking ESP failures, ranging from 90 days up to 900 days. It performs a detailed dismantle-and-failure analysis (DIFA), combining reservoir data, tear-down information, and sampling composition analysis, triggered evidence and patterns previously not identified.
Article
June 2024
Part 2: Erosion, due to entrained sand, is a growing problem, and existing technologies have limitations, but new solutions are available to address this issue.
Article
June 2024
Over the past decade, FourPhase has gathered solids management data from more than 150,000 hrs of operation. Vast amounts of data yield completely new perspectives. Rather than viewing sand production as a challenge, we recognize its positive aspects in reservoir management. Producing sand can be positive for your well, if done in a controlled manner.
Article
June 2024
Artificial lift technologies, including rod lift systems, remain vital to allowing companies to maximize the ROI of older assets. Deeper, more complex, mature wells incur greater wear and tear, and upgrading rod rotators allows companies to extend rod lift systems’ operational life, minimize NPT and overall costs, and optimize production.
Article
June 2024
Operators that rule out powerful permanent magnet motors for artificial lift operations are constraining environmental and efficiency gains.
News
July 01, 2024
OPEC produced an average of 26.98 MMbpd in June, or 80,000 bpd less than during the previous month, according to a Bloomberg survey. Small reductions in Iraq and Nigeria drove the decline.
Video
Expanding support for the North American perforating market with Baker Hughes
June 26, 2024
Webcast
Production Automation: Establishing the Building Blocks for Success
July 17, 2024
Baker Hughes, Amazon Web Services
What does it take to successfully automate production? Poll 100 operators and you’re likely to get at least 99 different answers. Whatever you might hear, one thing is certain: production automation cannot exist without multiple, critical elements working in tandem.
From reliable, real-time data services to smart hardware at the wellsite, experts from Baker Hughes and Amazon Web Services will discuss the full network of non-linear capabilities necessary to help operators automate their production and drive efficiencies, boost recovery, and lower their carbon footprints. Join us for this lively panel discussion and learn how you can deploy the key building blocks for production automation so you can unlock the shortest-cycle, lowest-carbon barrels possible.
News
June 23, 2024
Daily crude production kicked off the year at 3.73 MMbpd, then plummeted nearly 25% following offshore maintenance. Now, more than one-third of the deficit has been restored, offering far-reaching implications for Latin America’s largest economy and worldwide energy markets.
News
June 19, 2024
PetroAI will utilize TGS' extensive subsurface, production and well data to create advanced AI models capable of accurately predicting well performance and identifying design sensitivities. This partnership offers quick access to pre-built, high-quality models tailored for both Proved Developed Producing (PDP) and Proved Undeveloped (PUD) wells at county or basin levels.
News
June 17, 2024
Angola aims to produce 1.1 MMbopd by 2027, with plans to reach 2 MMbpd in the long-term. At the same time, the country aims to increase the share of natural gas in the energy mix to 25% by 2025, highlighting strategic opportunities for foreign investors and project developers.
News
June 17, 2024
Coordinated crude production reductions by the Organization of Petroleum Exporting Countries (OPEC) and its allies have led to a balanced global oil market, according to U.S. shale giant EOG Resources Inc.
News
June 11, 2024
World oil consumption will see a year-on-year increase of 2.3 MMbpd in the second half, about 150,000 bpd more than during the first, amid continued economic growth in China and other emerging economies, OPEC said in a monthly report.
Video
Wireline innovations and industry insights with Weatherford
June 07, 2024
News
June 06, 2024
OPEC and its allies agreed on Sunday to gradually wind down about 2 MMbpd of production cuts starting in October. Since then, crude prices have fallen more than 3% in London, dipping below $80 a barrel as analysts question whether the market can absorb this extra supply.
