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Analyst: Almost 1,000 more salt water disposal wells needed by 2030

pboilandgasmagazine.com : August 1, 2019 by Bailey LeRoux Raymond James & Associates analyst Marshall Adkins told clients Monday that Permian Basin will need almost 1,000 additional salt water disposal wells by 2030. Recycling efforts currently can’t handle the 17.5 million barrels per day of “dirty” water produced in the Permian Basin, Adkins said. “As crude production grows, produced ‘dirty’ water grows even faster. As the Permian Basin shifts further into manufacturing mode, the water growth we project will create the need for nearly 1,000 additional salt water disposal wells by...

The Race To Save $100 Billion – A Digital Revolution In Oil

OilPrice.com: In a new in-depth study, Rystad Energy estimates that as much as $100 billion can be eliminated from E&P upstream budgets through automation and digitalization initiatives in the 2020s. Service companies are reinventing themselves to help operators unlock these savings. In 2018, $1 trillion was spent on operational expenditures, wells, facilities and subsea capital expenditures across more than 3,000 companies in the upstream space. There are varying degrees of potential savings within offshore, shale and conventional onshore activity budgets, but in total, around 10% of this spend can be erased through more efficient and productive operations thanks to automation and digitalization. “Many key industry players are setting optimistic goals, but the realization of these initiatives largely depends on how freely data is shared amongst companies and how commercial strategies are deployed to drive this development. Because of this, it could be years before we see full adoption. However, based on our analysis of 2018 capital spend and operational budgets, we believe savings could easily reach $100 billion,” says Audun Martinsen, head of oilfield services research. Read...

Drilling Down: Denver saltwater disposal well operator makes Permian Basin push

Houston Chronicle: Sergio Chapa Sep. 9, 2019 Water remains a big issue in the arid Permian Basin of West Texas where for every barrel of oil produced, another four to 10 barrels of saltwater — the remnants of an ancient inland sea — come out of the ground. Over the past week, six companies filed 20 drilling permits to develop saltwater disposal, or injection, wells in the West Texas shale play. Denver oilfield water company Felix Water led the pack by seeking permission to drill 13 injection wells on its Pbar SWD lease in Loving County. Occidental Petroleum-owned APC Water Holdings is seeking to develop another three saltwater disposal wells in Reeves County. Read...

Saudi Arabia Has a New Energy Minister: What It Means for Oil

Bloomberg.com: By Anthony Dipaola - September 8, 2019, 1:25 AM MDT Updated on September 8, 2019, 8:43 PM MDT Saudi Arabia’s King Salman Bin Abdulaziz named his son Prince Abdulaziz as the country’s energy minister, replacing Khalid Al-Falih, who led three years of active OPEC diplomacy to forge a global alliance with producers such as Russia to limit production in order to prop up prices. Will this change the policy, or will it affect Saudi Aramco’s plan for an initial public offering? Who is the new minister in charge? Prince Abdulaziz served as deputy petroleum minister for a dozen years and most recently as minister of state for energy since 2017. He is an older half-brother of the influential Crown Prince Mohammed bin Salman, though the pair aren’t believed to be close and are quite far apart in age. Prince Abdulaziz’s years in the ministry prepare him for the top...

Oil rises 0.1% to $56.30 as US inventories decline

CNBC.com: Published Thu, Sep 5 2019 5:47 AM EDTUpdated Thu, Sep 5 2019 3:27 PM EDT Oil prices ticked higher on Thursday amid a sharp decrease in U.S. crude inventories and investor hopes of progress in resolving the U.S.-China trade feud. Global benchmark Brent crude gained 16 cents, or 0.2%, to $60.86 a barrel. U.S. West Texas Intermediate (WTI) crude added 4 cents, or 0.1%, to $56.30 a barrel. U.S. crude, along with gasoline and distillate inventories, fell last week. Crude stocks dropped 4.8 million barrels, which was more than the 2.5 million barrel draw analysts had expected, the Energy Information Administration said. Net U.S. crude imports, however, rose last week by 934,000 barrels per day. Read...

The Oil And Gas Situation: Exxon Not Panicking, Permian De-Bottlenecking

Forbes.com –  David Blackmon Contributor Some very interesting developments on the oil and gas front this week related to the Permian Basin: The Permian bottleneck continues to de-bottleneck. – Reuters reports that crude loadings at the Port of Corpus Christi (PortCC) rose to a record 1 million barrels of oil per day (bopd) last week, after two major new pipelines carrying Permian Basin oil - EPIC and Cactus II - went into service. Those lines have a total capacity of more than 1 million bopd, so the near-doubling of deliveries from July’s average of 525,000 bopd is not surprising. Read...