Saturn Oil & Gas Inc.'s first Open Hole Multi-Lateral (OHML) Bakken well in Southeast Saskatchewan showcased impressive results, with initial production significantly exceeding expectations. The well, drilled with eight open hole, and unstimulated lateral legs, achieved an initial 30-day average production of approximately 233 barrels per day of light oil.
This performance, 49% above the company's expected production curves, demonstrates the effectiveness of OHML drilling. These wells have smaller surface footprints and require less water compared to conventional techniques, enhancing their economic viability.Following this success, Saturn has identified up to 100 OHML drilling locations in the area, suggesting a potential for significant expansion and development in this region
Average U.S. Natural Gas Prices Plunge by 62% in 2023
The dramatic decrease in U.S. benchmark natural gas prices, averaging $2.57 per MMBtu...
The dramatic decrease in U.S. benchmark natural gas prices, averaging $2.57 per MMBtu in 2023, was a result of a unique combination of factors. Record-high natural gas production, primarily in the Permian, Haynesville, and Appalachia regions, significantly outpaced growth in consumption, leading to this price drop.
Production levels also reached an all-time high of 104 billion cubic feet per day, 4% higher than the previous year. In contrast, demand only saw a 3% increase due to higher exports and a slight rise in natural gas used for electricity generation.
Mild winter temperatures, particularly in January and February, also played a role, leading to reduced consumption in the residential and commercial sectors and the lowest total U.S. natural gas consumption for these months in seven years
Gas drilling activity seen slowing in 2024 after banner year
In October, the US achieved a record-high monthly average natural gas production of 126.3 Bcf/d, with...
In October, the US achieved a record-high monthly average natural gas production of 126.3 Bcf/d, with Texas leading at 34.7 Bcf/d and Pennsylvania at 20.6 Bcf/d, Energy Information Administration data show. However, analysts foresee a production dip in dry gas basins this year as producers prepare for a phase of lower gas prices before an anticipated surge in demand from new liquefied natural gas terminals materializes.
đŽđˇISIS took responsibility for the deadly bombing in Iran
According to a post on its Telegram account, the terrorist group claimed it was behind the attack, which ...
According to a post on its Telegram account, the terrorist group claimed it was behind the attack, which killed 84 people during a memorial procession for General Qasem Soleimani. It was the deadliest attack in Iran since the countryâs 1979 revolution. The group did not provide firm proof of its involvement, and its version of events differed from some reports in Iranian media. The attack further stoked fears that the IsraelâHamas war could turn into a wider regional conflict after this weekâs assassination of a top Hamas leader in Lebanon, the US launching an airstrike that killed a militia leader in Iraq, and ongoing attacks by Iran-backed Houthi rebels on commercial ships in the Red Sea.
ESPN and NCAAÂ sign eight-year, $920M broadcast...
ESPN and NCAAÂ sign eight-year, $920M broadcast rights agreement; deal includes rights to broadcast 40 NCAA championships over the next eight years (More)
The 81st Golden Globe Awards to be presented Sunday (8 pm ET, CBS); see predictions for each category (More) | Elvis Presley holographic concert to debut in London in November (More)
Ford reported its best year of new vehicle sales since 2019, a day after GM reported the same.
The Golden Gate Bridge in San Francisco installed a suicide net for the first time in its 87-year history.
Amer Sports, the maker of Wilson tennis rackets, filed for an IPO that could reportedly be valued at up to $10 billion.
Germany had its lowest emissions in 70 years in 2023 after it reduced its reliance on coal, according to a study.
TGI Fridayâs suddenly closed 36 âunderperformingâ restaurants as part of a new growth strategy.
