U.S. energy dominance continues with surge in natural gas wells
API recently released its quarterly well completion report for the second quarter of 2018, showing a 265-percent increase in estimated exploratory gas well completions as compared to the second quarter of 2017.
API's latest Quarterly Well Completion Report highlights that in the second quarter of 2018:
- The U.S. natural gas and oil industry year to date experienced a 52-percent increase in drilled footage and a 50-percent increase in well completions, compared with Q2 2017.
- The exploratory success rate in Q2 2018 was 64.3 percent.
- Total estimated gas well completions increased 76 percent as compared to Q2 2017.
For more information, visit www. api.org or call (800) 854-7179.
BOEM unveils Gulf of Mexico Lease Sale 251
The Bureau of Ocean Energy Management (BOEM) will offer approximately 78 million acres offshore Texas, Louisiana, Mississippi, Alabama and Florida for oil and gas exploration and development. The region-wide lease sale includes all available unleased areas in federal waters of the Gulf of Mexico.
At press time, Lease Sale 251 was scheduled to be the third offshore sale under the National Outer Continental Shelf Oil and Gas Leasing Program for 2017-2022. Under this program, 10 region-wide lease sales are scheduled for the Gulf, where resource potential and industry interest are high, and oil and gas infrastructure is well established. Two Gulf lease sales will be held each year and include all available blocks in the combined Western, Central and Eastern Gulf of Mexico Planning Areas.
For more information, visit www. doi.gov or call (202) 208-3100.
BSEE emphasizes importance of sharing critical data across industry
The Bureau of Safety and Environmental Enforcement's (BSEE's) SafeOCS program, chartered to facilitate confidential data sharing about industry safety systems, released its 2017 Annual Report Blowout Prevention System Safety. The report analyzes failure data and notifications, as mandated by BSEE's well control regulations, and information such as operational impact, failure causes and possible data improvement opportunities.
"We inherited a program with a 3-percent participation rate and have increased that to 59 percent, but we are not stopping there. Increasing participation in SafeOCS and sharing safety data across industry are critical for generating meaningful analysis," said Scott Angelle, BSEE director. "The ultimate goal of this program is to identify proactive steps to mitigate risks and ensure offshore operations are safe, reliable and environmentally sustainable."
For more information, visit www. safeocs.gov or call (202) 208-4378.
GulfSlope Energy commences drilling program in Gulf of Mexico
GulfSlope Energy Inc. has the Rowan Ralph Coffman jack-up rig under tow in the Gulf of Mexico to the Vermilion Area, South Addition Block 378. The company plans to commence drilling operations at the Canoe Prospect, pending final rig inspection and drilling approval from the Bureau of Ocean Energy Management.
Located in 325 feet of water, the Canoe exploration well is planned to test multiple Pleistocene age amplitudes that correlate to productive zones in nearby producing fields. Drilling operations are expected to take approximately 15 days to reach a measured depth of 6,249 feet. If successful, this above-salt test will be evaluated for development options ranging from subsea tiebacks to building a production platform.
For more information, visit www. gulfslope.com or call (281) 918-4103.
ConocoPhillips provides strong outlook for Alaska business
ConocoPhillips recently provided an update on its operating plan for Alaska, focusing on the company's long history of creating value in the state and an ongoing commitment to invest in low-cost supply opportunities. Over the past few years, the company's Alaska business has undergone a significant transformation, driven by a more competitive fiscal framework, cost reductions, technological advancements and an exploration renaissance.
Since 2016, ConocoPhillips has undertaken a significant and successful exploration program in Alaska. Based on the exploration results to date, the company believes it has captured 0.5 billion -1.1 billion boe of gross discovered resource, with 75 percent of its prospective exploration acreage still to be drilled. The cost of supply of the new resource is estimated to be less than $40 per barrel. The company has a 100-percent working interest in this resource.
For more information, visit www. conocophillips.com or call (281) 293-2073.