Attendees from North Dakota to Colorado and Beyond Gather to Discuss the Latest Efficiency-Driven Technologies & Strategies
This April, nearly 1,800 oil and gas professionals, 25+ executive-level speakers and 200+ exhibitors converged in Denver to spend two days exploring the latest efficiency-focused technologies and strategies saving producers throughout the Rockies valuable time and money.
The event's world-class speaker lineup featured leaders from the most-active producers in the region, including Whiting Petroleum, Oasis Petroleum, Hess Corporation, Newfield Exploration, QEP Resources and others. Presenters discussed their latest drilling results, future plans and efforts to maximize profits by driving efficiency throughout their organizations. Key topics included optimized completion programs, streamlined logistics and well refracturing. With 9+ hours of networking opportunities built into the event, attendees had ample time to connect and discuss everything they learned in the conference sessions.
Retired four-star General John Allen delivered a special Keynote Luncheon address, sharing personal accounts from his time serving as Commander of the U.S. and NATO troops in Afghanistan.
Click here to view the DUG Bakken and Niobrara 2015 post-event press release. The conference may be over, but the conversation isn't! Find out what other attendees and exhibitors are saying on Storify. We would love to hear about your experience too.
Be sure to save the date for DUG Bakken and Niobrara 2016, scheduled to return to the Colorado Convention Center in Denver, March 9-11, 2016.
President and COO Hess Corp.
Chairman and CEO Whiting Petroleum Corp.
Chairman Petrie Partners
President & COO Oasis Petroleum Inc.
Managing Director Sterne Agee
Drilling and Completions Manager Newfield Exploration Co.
Founder OAG Analytics
Vice President Phillips 66 Pipeline LLC
Co-CEO Synergy Resources Corp.
Bakken Continues Decline While Operators Remain Strong The Bakken Shale is alive and still kicking, but production continues to slow.
While oil production and rigs continue to decline in the Williston Basin of North Dakota, some companies, such as QEP Resources Inc. (NYSE: QEP) have shown impressive results in the play. At the same time, the backlog of drilled, but uncompleted (DUC) wells in the state continues to loom—which could generate financial headaches at current commodity prices.
Oil production in North Dakota declined 1% in February by 14,100 barrels a day (bbl/d), to 1.18 MMbbl/d. That was the second month in a row that production fell, which is uncommon, said Lynn Helms, director of North Dakota’s Department of Mineral Resources (NDIC).
The last time production fell in consecutive months was four years ago, Helms said.
E&Ps Balance Innovation, Costs But Liquidity, Leverage Matter Most Recently, Pioneer Natural Resources Co. (NYSE: PXD) has been using dissolvable plugs in Permian Basin wells.
In the Eagle Ford, such plugs dissolve in about 17 hours, eliminating the need for coil tubing to drill them out.
The ground beneath the Permian, though, is about 150 degrees cooler and the plugs take significantly more time to dissolve. They will have to be modified before they represent a repeatable improvement.
In a $50 per barrel WTI world, E&P companies have set about making efficiency and expense-reduction initiatives a priority.
While such measure are worthwhile, for all the effort on innovation none trump the most meaningful value drivers: liquidity, leverage and hedging and growth prospects, said Eric Otto, analyst, CLSA.