Compared with 2020, the largest discoveries made last year may hold just a third of the oil and gas reserves, according to new data from Westwood Global Energy Group.
Tight gas supplies, and uncertain Russian gas supplies mean sky-high prices for
LNG suppliers now and a chance to lock in attractive contracts long term. But
this opportunity won’t last forever.
The failure of the Raptor rig to drill its first-ever well offers a short
history of the challenges that came with creating the first automated drilling
rig.
The price of natural gas has more than doubled this year in many parts of the
world. The ripple effects are starting to be felt, but how wide they will spread
may not be known until winter comes.
Can a camera on the drill floor, or one on a mobile phone, measure what is going
on during drilling or evaluate drill-bit wear more consistently than a human?
The way gas injection is used to lift oil and water to the surface needs to
change because better control and data may mean more production. At a time when
engineers are managing so many wells, they need help from machines.