What happens when a well is already considered to be depleted? In the past, the wells would simply be abandoned. Today, however, advanced technology makes it possible to still recover some amount of product from the well. Swabbing can go on for several years, at which point the well is considered to be truly depleted. … Continued
The past decade has been a tumultuous one for the oil and gas industry. Following a period of tremendous highs, the oil and gas industry saw both oil and gas prices sharply decrease. In the past two years, the oil and gas market has slowly begun to recover. Now the oil and gas industry is … Continued
Shale drillers in the United States are expecting to increase their April oil output by 109,000 barrels per day. This will mean that almost 5 million barrels per day will be produced in the United States. It’s expected that oil and gas production will continue to increase throughout 2017, in the wake of an improved … Continued
Gas and oil wells produce fluid over the lifetime of a well. When a well is first drilled, it is “fracked” to help open productions zones. “Frac” fluids are recovered by swabbing to “kick” the well off. As fluids are lifted, the bottom hole pressure pushes the gas and/or oil up and out the well. … Continued
Oil production is on the rebound in North Dakota, with over 1 million barrels a day being produced throughout October. Increased oil production domestically is likely for a variety of global factors, and is a significant indicator of a strong market. In the meantime, however, there may be a brief slowdown during the harshest months … Continued
Oil production within the Permian Basin has continued to steadily rise throughout 2016, chiefly due to horizontal drilling. It’s believed that Permian production will continue to rise throughout 2017, as the region is plentiful and the cost of both natural gas and crude oil is increasing. Multiple operators have a vested interest in Permian Basin … Continued
In a move that could have significant consequences for the American oil market, OPEC has recently altered its global oil strategy. Influenced heavily by Saudi Arabia, the OPEC nations made a bid two years ago to drastically and artificially reduce oil prices. The global market was flooded with affordable crude oil, which was both a … Continued
The US oil rig count is providing a positive forecast in terms of confidence within the oil and gas industry, likely due to current political changes and a steadily increasing demand for global energy. As the US oil rig count increases, so does the production of domestic oil and gas. It’s believed that the oil … Continued
Up until recently, many experts have been speculating on what would occur within the oil and gas industry throughout the rest of 2016. Experts believed that the oil and gas industry would continue to slowly recover throughout 2016, and they were largely correct; oil prices have begun to rise again. But the election of Donald … Continued
Gas storage levels within the United States have currently reached a record high, at 47 billion cubic feet more than a year-over-year comparison. These gas storage levels are 189 billion cubic feet over the five year average. This is good news for the United States, which thrives on affordable natural gas energy. Throughout the country, … Continued