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Tag Archives: oil production

Flo-Rite Magnetic Fluid Conditioning for Horizontal Wells

Since the horizontal well boom began, production technology has advanced exponentially. But despite these advances, there remains an arduous and persistent problem which plagues both conventional and unconventional wells alike — paraffin and scale buildup. Treating paraffin with Magnetic Fluid Conditioning Magnetic Fluid Conditioning (MFC) is not new to the oilfield. Historically, though, the process hasn’t been trusted as an ...

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Nigerian oil production drops after militant attacks

militant attacks, oil production, Nigeria

LAGOS, Nigeria (AP) — Militant attacks on oil installations and a threatened nationwide strike are driving Nigeria’s petroleum production and its naira currency to new lows. Angola has become Africa’s biggest oil producer as Nigeria’s output slumped to 1.4 million barrels a day, Oil Minister Ibe Kachikwu said Monday, endangering a budget based on production of 2.2 million barrels. Angolan ...

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US stocks recover, oil prices drop after Doha meeting

US stocks recover, oil prices drop after Doha meeting

U.S. stocks moved higher in morning trading Monday, recovering from an early slump after major oil-producing nations failed to hammer out a deal over the weekend to cut oil production, sending oil prices lower. Consumer discretionary and financial companies were among the biggest gainers. KEEPING SCORE: The Dow Jones industrial average rose 45 points, or 0.3 percent, to 17,943 as ...

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Chevron shifts focus to Texas shale

Chevron shifts focus to Texas shale

Chevron plans to focus on shorter-cycle investments in West Texas shale plays after its larger, long-term investments come into production this year. By the end of the decade, Chevron believes it can nearly triple its oil production in the Permian Basin by increasing its rig count from seven to 14. “Don’t be surprised if by the middle of the next ...

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Idaho House approves oil and gas regulation bill

Idaho House approves oil and gas regulation bill

BOISE, Idaho (AP) — The Idaho House on Monday approved legislation aimed at speeding up natural gas and oil production by changing the industry’s deadlines and decision-making process. Senate Bill 1339 would make the Idaho Department of Lands responsible for initial oil and gas decisions, while allowing the Oil and Gas Conservation Commission to oversee and reverse such decisions. It ...

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Chesapeake halts Marcellus and Utica drilling

natural gas drilling rig

Yesterday Chesapeake Energy (NYSE:CHK) stock bounced back after its quarterly report was released. Investor confidence increased as assets were sold off and the company’s liquidity increased. Chesapeake should be able to pay its upcoming debts with the cash from the asset sales. Agreements to sell $700 million in gas fields and other assets were made. The company plans to sell between ...

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