E&P

(P&GJ) — Oil is still serious business in the Bakken Shale, but when it comes to midstream, the money is on natural gas. As in the Permian Basin, oil production in the Williston has a high rate of associated natural gas. But the Bakken’s residual gas is rich in natural gas liquids (NGLs), and that requires infrastructure generally more akin to North Texas’ Barnett Shale than West Texas’ Permian.

In 2000, the federal government’s U.S. Geological Survey, based in Washington, D.C., identified the Guyana-Suriname Basin as having the second highest resource potential among unexplored oil and gas basins in the world.

The flowmeter market is now strong and trending upward as the economy regains its footing and rising oil and gas prices drive exploration and production, according to a new study by Flow Research Inc.

At the November 2021 United Nations Climate Change Conference of the Parties (COP26) in Scotland, President Joe Biden urged all the world’s largest nations to step up to the climate change challenges in this decade with “action and solidarity.”

After declining in 2020, the combined production of U.S. fossil fuels (including natural gas, crude oil, and coal) increased by 2% in 2021 to 77.14 quadrillion Btu.

A growing share of U.S. natural gas production is associated-dissolved natural gas, produced from oil wells, which is the result of increased crude oil production from low permeability, tight rock formations – Permian, Bakken, Eagle Ford, Niobrara and Anadarko.

The Bakken Shale play has catapulted sparsely populated North Dakota to the No. 2 oil-producing state behind Texas, eclipsing historically oil-rich states such as Alaska and California.

Upstream and midstream executives have been quick to tell investors how technology and innovation are adding efficiency and cost savings to their operations, even coming out of a three-year global price depression for oil.

The upstream sector started the new year on a cautious note following a sharp decline in oil and gas prices, but the midstream sector roared into 2019 on a wave of pipeline construction activity. The latest Pipeline & Gas Journal survey indicates 145,353 miles of pipelines were planned or under construction worldwide at the start of the year.

Gross production of natural gas in the United States has generally been increasing for more than a decade and in recent months it has been more than 10% higher, driven by production in the Appalachian Basin, Permian Basin and Haynesville Shale.

First signals from President-elect Andres Manuel Lopez Obrador’s staff and advisors are that the new administration will not seek to backtrack on energy reforms that allow foreign firms to win E&P contracts in Mexico.

Five years ago, few would have predicted that Mexico would be capable of overhauling its oil and gas sector, much less through a downturn. Yet since the constitutional reform of 2013, Mexico has dramatically revivified its upstream sector.

Global energy trends and forecasts entering the second half of 2018 continue to support a generally bullish outlook for oil and gas production and infrastructure construction to meet growing demand and evolving patterns of interregional trade.

The Bakken was strewn with casualties before the turnaround, but billionaire oil pioneer Harold Hamm and his teams at Continental Energy Resources Corp. saw opportunities to create better mousetraps in exploring and producing oil and natural gas.