Upstream Technologies

Global upstream investments set for 15-year low, falling to USD383 billion in 2020 – Rystad Energy

Global upstream investments set for 15-year low, falling to USD383 billion in 2020 – Rystad Energy

Rystad Energy


Following the publication of the upstream industry’s first quarter results, a Rystad Energy analysis reveals a gloomier investment-budget picture than previously thought. Global spending is now forecasted to reach $383 billion this year, the lowest level in 15

Source: SitePro

How do Oil & Gas Companies Reach Cash Flow Nirvana?

Compiled by Tyler Jones, Oil & Gas 360


Oil and gas companies are leveraging Machine Learning and Artificial Intelligence to reduce cost and improve returns.

The timeline on which investors in the oil and gas space expect a return on …

BP’s Tech Startups Paying Off – Lytt is like Downloading 1000 Netflix Films Simultaneously

BP’s Tech Startups Paying Off – Lytt is like Downloading 1000 Netflix Films Simultaneously

BP recently created BP Launchpad as a business incubator

From the Houston Chronicle

BP is getting into the startup business launching its own well technology business, called Lytt, with [other tech startups] on the way.

BP developed the acoustic, fiber-optics …

Stage Completions Sets Bowhead II Record with 142-Stage Permian Basin Completion in 4.3 Days

Stage Completions Sets Bowhead II Record with 142-Stage Permian Basin Completion in 4.3 Days

Permian completion almost doubles 2016 record Montney completion  

Stage Completions USA is demonstrating how to maximize completions for operators in the Permian Basin.

 

Stage said that it achieved a record-setting 142-stage completion with its 5.5” Bowhead II Sliding Sleeve …

Another Permian Record: Surge Energy Subsidiary Drills Longest Known Lateral in the Permian

Another Permian Record: Surge Energy Subsidiary Drills Longest Known Lateral in the Permian

Wolfcamp A well went down 7,102 feet – out 17,935 feet – TD’d in 18 days

Moss Creek Resources Holdings, Inc., a wholly owned subsidiary of Surge Energy US Holdings Company, said it drilled the longest known lateral in the …

Are Today’s High-Speed Horizontals Drilling Too Fast for the Humans?

Are Today’s High-Speed Horizontals Drilling Too Fast for the Humans?

Increasingly fast pace of drilling horizontal wells is squeezing the limits of software, people
by Bevo Beaven, Editor, Oil & Gas 360

It was only a few years back, during the early-middle years of the downturn, that operators began bragging

New Oil Tech Adds Hundreds of Millions of Barrels to Alaska’s Oil Resources

New Oil Tech Adds Hundreds of Millions of Barrels to Alaska’s Oil Resources

From Hellenic Shipping News

Rapid technology advances are allowing explorers and producers in Alaska to add hundreds of millions of barrels of new resources to portfolios at a cost competitive with finding oil in the Lower 48 states.

Chief among …

Texas Professor Discovers Better Path to Identify and Frac Permian Sweet Spots, Avoid Drilling Poor Wells

Texas Professor Discovers Better Path to Identify and Frac Permian Sweet Spots, Avoid Drilling Poor Wells

From the Midland Reporter-Telegram

University of Texas of the Permian Basin Professor Ahmed Alzahabi has been studying shale rock for the past four years.

As Permian Basin oil and gas operators seek to optimize production in their wells by better …

Exclusive Interview: James Graham, President & CEO of Guild One

Exclusive Interview: James Graham, President & CEO of Guild One

At the 2018 Oil and Gas Conference, James Graham, CEO & President of Guild One was interviewed by EnerCom’s Angie Austin.

GuildOne Inc. supplies advanced database solutions and business intelligence to the oil and gas industry so organizations can better …

Startup Aims to Replace Google Earth for E&Ps

Startup Aims to Replace Google Earth for E&Ps

Revolutionary technology is 10-times clearer than others: “you could find a lost phone in a million acres by zooming in to an accuracy of less than 10cm ground resolution across the Permian Basin”

Ai PRIME, a new technology company …

Flotek Industries Q2 Conference Call: Operators Are Asking for Expanded Chemistry Options

Flotek Industries Q2 Conference Call: Operators Are Asking for Expanded Chemistry Options

Flotek Industries Inc. (NYSE: FTK) reported Q2 results this week and executives discussed operations for the company’s oil and gas industry segment during the Q2 2018 earnings call.

2Q Financial Snapshot

  • Revenue of $59.1 million for 2Q 2018 decreased 2.4%
R&D Arm of Baker Hughes-GE Flips: New Tech Incubator Aims to Quickly Monetize Innovation

R&D Arm of Baker Hughes-GE Flips: New Tech Incubator Aims to Quickly Monetize Innovation

Repurposed research center becomes Energy Innovation Center of North America – an incubator tasked with launching disruptive tech startups, and providing access to venture capital to quickly monetize new technologies

Taking a page from Silicon Valley, Baker Hughes, a GE …

EnerCom Announces 73 Presenting Companies for The Oil & Gas Conference® 23

EnerCom Announces 73 Presenting Companies for The Oil & Gas Conference® 23

The 2018 EnerCom oil & gas investment conference will feature U.S. and Canadian shale developers, Gulf of Mexico, European and Latin American producers, oilfield service companies and expert panels for Mexico, midstream, private E&Ps and oilfield technology

EnerCom, Inc. has …

Two Ocean Rig Drillships First with ABS Managed Pressure Drilling-Ready Notation

Two Ocean Rig Drillships First with ABS Managed Pressure Drilling-Ready Notation

Technology improves drilling complex deepwater wells

From MarineLog

MAY 1, 2018 — ABS reports that it has awarded the world’s first Managed Pressure Drilling (MPD) –Ready Notation to Ocean Rig for the ABS-classed Corcovado and Mykonos deep water drillships.

The …

Schlumberger Introduces New Perforating Gun System

Schlumberger Introduces New Perforating Gun System

Schlumberger’s (ticker: SLB) wireline group has come out with a new technology system that it says will allow operators to more cleanly perforate a well. The company’s new ‘Tempo’ is an instrumented docking system that delivers real-time measurements in perforating …

EnerCom’s Oilfield Tech & Innovation Conference Kicks Off Friday

EnerCom’s Oilfield Tech & Innovation Conference Kicks Off Friday

The presenting companies are on the docket for EnerCom’s upcoming Oilfield Tech & Innovation Conference in Dallas, Texas.

The Oilfield Tech & Innovation Conference is next Friday Feb. 23, 2018 at the Tower Club Downtown Dallas.

Presenters run the gamut …

Heard on the Call: Oil & Gas CEOs Speak Up

Heard on the Call: Oil & Gas CEOs Speak Up

As oil and gas companies dive into the Q4 earnings season in the coming days and weeks, more and more chief executives at E&Ps and oilfield service companies will share their insight as to their recent operations, thoughts about where …

EnerCom Oilfield Tech & Innovation Conference Coming to Dallas, Texas – Feb. 23, 2018

EnerCom Oilfield Tech & Innovation Conference Coming to Dallas, Texas – Feb. 23, 2018

EnerCom Oilfield Tech & Innovation Conference provides innovative companies a unique opportunity to highlight their technologies to oil and gas industry prospects, customers, investors and industry management professionals

EnerCom, Inc. is hosting its winter Oilfield Tech & Innovation Conference in …

Emerson Process Management to Present at EnerCom Dallas 2018

Emerson Process Management to Present at EnerCom Dallas 2018

Emerson Process Management, a subsidiary of Emerson Electric (ticker: EMR), will be a presenter at EnerCom Dallas Feb. 21-22, 2018.

Emerson provides the oil and gas industry with automation products that enable optimal operation including:

  • Well monitoring & Integrity
  • Heater
Flotek Industries Presenting at EnerCom Dallas Feb. 21-22, 2018

Flotek Industries Presenting at EnerCom Dallas Feb. 21-22, 2018

Flotek Industries (ticker: FTK), with headquarters in Houston, Texas, develops and delivers prescriptive chemistry-based technology, including specialty chemicals, to global clients in the energy, consumer industrials and food & beverage industries.

Highlights from Flotek’s Energy Chemistry Technologies include:

  • Segment revenues
Goodrich Petroleum Announces $65-75 Million Capital Expenditure Budget

Goodrich Petroleum Announces $65-75 Million Capital Expenditure Budget

Early today Goodrich Petroleum Corporation (ticker: GDP) announce a preliminary capital expenditure budget for 2018 of $65 to $75 million.

100% of the coming year’s budget will be allocated to the company’s core acreage in the Haynesville Shale in the …

Pressured for Profit, Oil Majors Bet Big on Shale Technology

Pressured for Profit, Oil Majors Bet Big on Shale Technology

Majors bring highly automated systems from offshore to shale plays

From Reuters

HOUSTON (Reuters) – Shale oil engineer Oscar Portillo spends his days drilling as many as five wells at once – without ever setting foot on a rig.

Part …

November 29, 2017 - 10:33 am Closing Bell Story‎, Energy News, Upstream Technologies
BP U.S. Onshore’s Use of Smart Tech Drives 50% Reduction in Man Hours

BP U.S. Onshore’s Use of Smart Tech Drives 50% Reduction in Man Hours

BP’s U.S. onshore operations using drones, big data, augmented-reality smart glasses, multilateral wells

“If you look at any industry, every single one is being turned inside out by technology,” Brian Pugh, Lower 48’s chief operation officer – production said. “The …

A Wattenberg Victory: Extraction Oil & Gas Receives Approval from Broomfield

A Wattenberg Victory: Extraction Oil & Gas Receives Approval from Broomfield

Extraction went far beyond what state law requires to gain local approval of a well development plan within Broomfield city and county limits

Wattenberg-DJ operator Extraction Oil & Gas, Inc. (NASDAQ:XOG) has received approval for its Operator Agreement with the …

Emerson to Acquire Paradigm in Half-Billion-Dollar Oilpatch Software Deal

Emerson will become largest E&P software provider to global oil and gas industry

Today St. Louis’s Emerson (NYSE: EMR) announced it will acquire Paradigm®, a provider of software solutions for oil and gas companies, for a purchase price of $510 …

Another Texas Commodity Getting Red Hot

Another Texas Commodity Getting Red Hot

Texas dunes, HCLP provide answers

Texas is the motherlode when it comes to decade after decade of oil and gas production in the U.S., and the Permian basin is widely considered to hold some of the best rock in the …

Exclusive Video Interview with Kalnin Ventures Managing Director Christopher Kalnin

Exclusive Video Interview with Kalnin Ventures Managing Director Christopher Kalnin

Kalnin Ventures: 40%-50% of all the gas produced in the Marcellus is non-operated

At its recent 2017 The Oil & Gas Conference®, EnerCom’s Oil & Gas 360® conducted an exclusive video interview with Kalnin Ventures Managing Director Chris Kalnin.

Kalnin …

Exclusive Video Interview with Heal Systems CEO Jeff Saponja

Exclusive Video Interview with Heal Systems CEO Jeff Saponja

Heal Systems: doubling production consistently in operators’ wells

At its recent Oilfield Tech & Innovation Day, EnerCom’s Oil & Gas 360® conducted an exclusive video interview with Heal Systems CEO Jeff Saponja.

Heal Systems and its majority shareholder Production Plus …

Exclusive Video Interview with Fracture ID Founder and President Chris Neale

Exclusive Video Interview with Fracture ID Founder and President Chris Neale

Fracture ID: using this tool operators can gather rock characteristics and fracture intersects on every well they drill at about 1/10 the legacy cost; ‘modeling reservoir geomechanics in 3D will change how the industry informs its petrophysical decisions’

At EnerCom’s …

Exclusive Video Interview with EcoStim Energy Solutions President & CEO Chris Boswell

Exclusive Video Interview with EcoStim Energy Solutions President & CEO Chris Boswell

EcoStim Energy Solutions: ~80% of revenue will be in the U.S. going forward; 2-year contract with YPF provides foundation for growth in Argentina  

At its recent 2017 The Oil & Gas Conference®, EnerCom’s Oil & Gas 360® conducted an exclusive …