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LIVE: Permian Highlights Discussed Online by Rextag (Hart Energy) Data Experts
11/18/2019
Amazingly how this West Texas area has gradually become the top global oil and gas producing region within the last decade. A spike in production in early 2010s was followed by the acreage rush with lease prices showing 10-fold increase and more than that. Having successfully endured through the drastic price recession of 2014 and following years, Permian producers have continued to improve their technologies driving break-even costs down.
Today with production volume of over 4 million barrels / day Permian produces more than the second largest global oil field, Saudi Arabia's mighty Ghawar. As production keeps increasing, the issue that is becoming most critical in Permian is transportation and possible transportation bottlenecks. New pipeline projects are being built, yet the takeaway capacity of the Permian remains under close examination of industry experts and producers.
This time again Peggy Williams, Vice President/Editorial Director and Reinold (Rey) Tagle Senior Vice President of Data Services will discuss the Permian key metrics in detail.
This 30-min online webinar reviews oil & gas production highlights from the Permian unconventional play using Rextag's Energy DataLink™ premiere data web app.
The speakers analyze historical production and trends, look at major producers, and key midstream players. The research covers decline curves, completion reports and other important points of analysis.
If you want to obtain selected PDF reports and maps used in the webinar, please contact us at akovalenko@hartenergy.com.
If you are looking for more information about energy companies, their assets, and energy deals, please, contact our sales office mapping@hartenergy.com, Tel. 619-349-4970 or SCHEDULE A DEMO to learn how Rextag can help you leverage energy data for your business.
2019 Bakken Upstream Highlights in the Spotlight
Join Rextag for the Bakken Upstream Video Highlights
Streamlining ESG Management in Oil & Gas: Simplify Compliance with the Latest Standards
To effectively manage ESG issues in O&G companies, a comprehensive approach is required, addressing multiple managerial issues. First, ESG considerations must be integrated into the corporate strategy, setting goals that align with business objectives, reflected in budgeting, capital allocation, and risk management. Accurate and efficient collection, management, and reporting of ESG data is necessary for identifying relevant metrics and indicators, such as greenhouse gas emissions, water consumption, and social impact indicators.
The Williston Basin is a big area filled with layers of rock that sits next to the Rocky Mountains in western North Dakota, eastern Montana, and the southern part of Saskatchewan in Canada. This area covers roughly 110,000 square miles. Geologically, it's very similar to the Alberta Basin in Canada. People started drilling for oil in the Williston Basin back in 1936, and by 1954, most of the land where oil could likely be found was already claimed for drilling. The Bakken Formation with parts of Montana, North Dakota, Saskatchewan, and Manitoba has become one of only ten oil fields globally to yield over 1 million barrels per day (bpd) since the late 2000s. It is currently the third-largest U.S. shale oilfield, behind the Permian and Eagle Ford. The boom in the Bakken started around September 2008, coinciding with the U.S. housing market crash. The application of new technologies, such as swell packers enabling multiple-stage fracturing, significantly enhanced oil recovery, making the Bakken Formation a key player in the U.S. In 2022, the Bakken oil field saw big improvements in how much oil and gas it could produce. At the start of the year, 27 drilling rigs were working there, more than double the 11 rigs from the start of 2021. Important upgrades included making the Tioga Gas Plant able to process 150 million cubic feet more gas each day, and making the Dakota Access Pipeline bigger, increasing its oil transport capacity from 570,000 to 750,000 barrels every day.
Continental Resources is expanding its operations in the Midland Basin, including taking over some assets that used to belong to Occidental Petroleum. The company plans to use its expertise in exploration in this area.
Equinor and EQT Corporation have agreed that Equinor will exchange its operated assets in the Marcellus and Utica shale formations in Ohio for a stake in EQT’s non-operated interests in the Northern Marcellus formation.