Italy-based Eni will conduct output tests and start producing natural gas from the Zohr field in Egypt's sector of the Mediterranean Sea by the end of the year, the country's oil ministry said. Production will start at 350 million cubic feet per day and increase to about 1 billion cubic feet per day by the middle of next year and to 2.7 billion by the end of 2019, the ministry said.
An Ohio company has developed an expandable polymer proppant designed to keep fractures open during the hydraulic fracturing process. The beads, which contain a reactive material, fully expand within one to two days, extending the fracture network, says the technology's developer, Terves.
Earthquakes near the Earthquake Valley fault close to Julian, Calif., shook a large part of San Diego County last week, the US Geological Survey reported. A magnitude 4.0 quake occurred Wednesday nearly 16 kilometers below the surface, followed by a magnitude 3.0 aftershock, a magnitude 3.6 temblor and, on Thursday morning, a magnitude 3.6 quake.
Oil companies have reduced spending in Angola, which has gone from a major player in the oil industry to a costly place to pump oil from deepwater reserves. The number of oil rigs in the country fell from 19 in 2014 to three in October, and companies say the average oil price would have to be nearly $73 a barrel to break even on projects there.
The oil and natural gas industry is expected to continue on its growth trajectory next year even though production increases will likely keep oil prices in the $40-to-$60-per-barrel range through 2019, according to the Moody's oil outlook for 2018. Exploration and production companies and oilfield service firms could see earnings rise by 10% to 12% in 2018, with the North American onshore market providing the best opportunities for growth.
US oil drillers deployed two new rigs to US oilfields last week, bringing the US oil rig count to 751, while the number of natural gas rigs remained unchanged, according to Baker Hughes. The Permian Basin and the Eagle Ford Shale led the gains with three rig additions each, offsetting losses in Colorado, North Dakota, Oklahoma, Ohio and Kansas.
SDX Energy has found natural gas in a well in the Hoot formation in Morocco. The well, part of SDX's nine-well Moroccan drilling campaign, was drilled 1,896 meters deep and is expected to start production within 30 days, the UK-based company says.
New measurements put Mount Hope, which sits on UK-claimed territory in Antarctica, at 3,239 meters, or 10,626 feet, making it Great Britain's tallest mountain. The British Antarctic Survey decided to re-measure the mountains to ensure the safety of pilots in the area since planes are the main mode of transportation there.
All of the information accumulated by the now-ended Cassini mission has been used to update a comprehensive map of the topography of Saturn's moon Titan, published in Geophysical Research Letters. A new study that uses the latest map, also published in Geophysical Research Letters, suggests that Titan's hydrocarbon lakes may be connected by what could be the equivalent of groundwater.
SEG 2017 Technical Program presentation files added to Digital Library
Nearly 850 of the SEG 2017 Technical Program expanded abstracts have PowerPoint and PDF presentation files available in the SEG Digital Library. Look for the presentation files under the "supplemental material" links of individual expanded abstracts. This material is free to subscribers, including all SEG members. The 2017 Technical Program presentation recordings now are available for purchase by topic in the SEG Shop.
SBGf/SEG Machine Learning workshop registration is open
Machine learning can enable fast high-quality decisions in the oil and gas industry, an essential component for viability given the industry's long-term outlook. This workshop will discuss the challenges, opportunities and trends related to the adoption of machine learning in geoscience research and industrial workflows. Registration is open, and the call for abstracts deadline is Jan. 30. Learn more.