Chevron earns California tax credits using solar power to pump oil

Since April, solar panels have been powering oil pumps at Chevron’s Lost Hills 7,981 barrel-a-day oil field, according to the company. The 29-megawatt site, owned and operated by San Jose-based SunPower Corp., is designed to provide the field with 80% of its electricity, equal to taking more than 4,000 cars off the road.

Funding for shale drillers dries up as lenders leave the sector

Banks lending against the reserves of hundreds of independent U.S. drilling companies has pulled back at an unprecedented rate this year as prices slumped. Meanwhile, many in the industry expect further reductions to credit facilities in the fall, with higher costs and more stringent protections for lenders.

The lessons oilfield service companies are applying from downturns past to succeed today

Using the differing fates of BJ Services and Halliburton as an example, in today's podcast Kurt and Cameron discuss how the last major downturn of the early 1990's taught service companies some harsh lessons, and their survival may hinge on how those lessons are applied in today's Covid-19 fueled downturn.

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Digital completion system integrates OFS data to increase fracing efficiency, lowering operational costs

World Oil / July 2020

Melanie Darbyshire, Cold Bore Technology

A new digital IIOT completion technology eliminates imprecise manual tracking during fracing operations, using sensor-driven software. The system consolidates real-time data from all service providers, on one screen, and produces a time-stamped operational log of what occurred at the wellhead.

World Oil editorial: Time for Trudeau regime to lend help to Newfoundland and Labrador’s offshore industry

World Oil / July 2020

One of the more exasperating, outrageous situations being played out in the global upstream industry is the Trudeau administration turning a deaf ear, so far, to repeated requests and pleas for federal officials to lend substantive help to Newfoundland and Labrador’s (NL) offshore oil and gas industry.

Integrated geomechanical interpretation of hydraulic stimulation using distributed vibration sensing

World Oil / July 2020

Michael John Williams, Joel Le Calvez, Colin Wilson, Adrian Rodriguez-Herrera, Schlumberger

Distributed vibration sensing has provided a new measurement technique for monitoring hydraulic fracture treatments. Once pre-modelled, the strain steps show expected order of response, and the fracture propagation can be matched during real-time to estimate the extent of actual fracture propagation.

Global E&P; mid-year spending outlook: Collapse underway

World Oil / July 2020

James West, Evercore ISI

So far, 2020 is on track to be the second-worst year in the spending survey’s 35+-year history, exceeded only by the 32% decline of 2016.

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Willard C. (Bill) Capdevielle, P.E.

Appreciating depreciation

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International Rotary Drilling Rigs

^{Data courtesy of Baker Hughes.}

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