A massive production optimization project is under way by General Electric’s (GE) Intelligent Platforms Software that eventually would connect 4,000 of BP plc’s wells around the world.
Articles from Efficiency
Bellevue, WA-based Puget Sound Energy (PSE) on Monday became the latest Pacific Northwest energy utility to join a multi-state effort to transform the region’s natural gas energy efficiency market. The Northwest Gas Association (NWGA), other utilities and state/regional organizations are part of the first-in-the-nation effort.
Because the number of wells drilled in the United States that produce both oil and natural gas has increased sharply since 2007, natural gas production can rise even as the number of rigs characterized as drilling solely for natural gas falls, the Energy Information Administration (EIA) said Monday.
While the state’s energy officials try to boost future power reliability in the absence of a major nuclear generating source, California is looking at spending up to $2.5 billion annually on efficiency and alternative energy programs.
Noting that the state’s climate change mediation goals call for investing billions of dollars in energy efficiency, California regulators on Thursday approved $65.9 million to conduct five pilot energy efficiency programs using utility ratepayer-supported financial mechanisms. Pilot programs will be phased in beginning in the fourth quarter.
With the exception of some flattening in the overall oil and natural gas rig count this year, a steady increase is forecast through 2015, particularly for horizontals drilled on multi-pad well sites, according to Halliburton Co. COO Jeff Miller.
Houston-based ZaZa Energy LLC has struck a deal to sell about 10,300 acres in Fayette, Gonzalez and Lavaca counties in Texas for about $28.8 million to a unit of Sanchez Energy after a deal fell through with another buyer that was unable to fund and close a transaction, parent ZaZa Energy Corp. said. ZaZa calls the acreage its Moulton properties. In March, ZaZa announced two pending Moulton sales: one for $43.3 million for 10,000 acres and another for the remainder of its Moulton properties for $9.2 million (see Shale Daily, March 26). “Given the current landscape, we believe that transacting at this metric was the best and most prudent action for the company at this time,” ZaZa CEO Todd Brooks said of the latest deal. “We remain focused on monetizing select Eagle Ford assets in order to improve our balance sheet, and we are currently pursuing other joint ventures in the area. In the Eaglebine, our joint venture is progressing as planned, and we anticipate timely drilling of the first three wells as part of the agreement [see Shale Daily, April 8].” ZaZa has received a down payment of $1.4 million for the Moulton properties; closing of the sale is expected by July 31.
A “supply shock” to the global energy markets being created by North American oil production will be as transformative to the market over the next five years as was the rise of Chinese demand in the last 15, forcing operators to overhaul global investment strategies and reshape the way oil is transported, stored and refined, the International Energy Agency (IEA) said Tuesday.