The Thistle Field, Blocks 211/18a, 211/19a, UK North Sea

2003 ◽  
Vol 20 (1) ◽  
pp. 383-392
Author(s):  
A. M. Brown ◽  
A. D. Milne ◽  
A. Kay
Keyword(s):  
North Sea ◽  
Late Stage ◽  
Full Range ◽  
Late Life ◽  
Oil Price ◽  
Success Story ◽  
Price Fluctuations ◽  
Cost Cutting ◽  
Economic Production ◽  
Cumulative Production

AbstractCumulative production of oil from the Thistle Field had reached almost 400 MMBBL by the end of 2000. Thistle is a success story and has been producing for over 20 years. It is now in its late stage of field life and is close to achieving a 50% recovery factor of its estimated 824 MMBBL STOIIP. The millennium challenge is to continue economic production and further increase reserves recovery. It has survived the full range of oil price fluctuations with all the accompanying cost cutting initiatives in late life becoming the benchmark for end of field life performance.

Extending Production Life of Mature Fields in the North Sea with Multilateral Technology

2021 ◽  
Author(s):  
Matthew Kelsey ◽  
Magnus Raaholt ◽  
Olav Einervoll ◽  
Rustem Nafikov ◽  
Stian Amble
Keyword(s):  
Environmental Impact ◽  
North Sea ◽  
Construction Costs ◽  
The North ◽  
Economic Production ◽  
Successful Case ◽  
Isolation Methods ◽  
Cumulative Production ◽  
The North Sea

Abstract Multilateral technology has for nearly three decades extended the production life of fields in the North Sea by delivering a higher recovery factor supported by the cumulative production of the multiple laterals. Additionally, operators continue to look at methods to reduce the environmental impact of drilling and intervention. Taking advantage of the latest multilateral technology can turn otherwise unviable reservoirs into economically sound targets by achieving a longer field life while minimizing construction costs, risk, and environmental impact. This paper will focus on mature fields in the region that have used multilateral applications for wells that were reaching the end of their life and have been extended to further economic production. This paper discusses challenges faced to provide a multilateral solution for drilling new lateral legs in existing wells where there is a lack of available slots to drill new wells. Additionally, discussion will cover completion designs that tie new laterals into existing production casing. The case study will include discussion of workover operations, isolation methods, and lateral creation systems. The paper focuses on the challenges, solutions, and successful case study of a retrofit multilateral well constructed in the North Sea which extended production life in a mature field by using innovative multilateral re-entry methods. The paper also provides insight as to methodology for continually improving reliability of multilateral installations to maximize efficiencies.

Reversing the Production Decline and Maximizing Late-life Value of a Mature Oilfield in Offshore South China – A Brownfield Re-Development Project Success Story

2014 ◽  
Author(s):  
Donghong Luo ◽  
Lin Li ◽  
Bin Tao ◽  
Parlindungan Monris Halomoan ◽  
Amarjit Singh Bisain ◽  
...  
Keyword(s):  
South China ◽  
Project Success ◽  
Late Life ◽  
Development Project ◽  
Success Story

The Impact of Oil Price Fluctuations on Industry Stock Returns: Evidence from International Markets

2018 ◽  
Vol 5 (1) ◽  
pp. 1-12
Author(s):  
Elias Randjbaran ◽  
Reza Tahmoorespour ◽  
Marjan Rezvani ◽  
Meysam Safari
Keyword(s):  
Stock Returns ◽  
Oil And Gas ◽  
Negative Relationship ◽  
The United States ◽  
Oil Price ◽  
Price Variation ◽  
Price Changes ◽  
Price Fluctuations ◽  
Food And Beverage ◽  
The Impact

This study investigates the impact of oil price variation on 14 industries in six markets, including Canada, China, France, India, the United Kingdom, and the United States. Panel weekly data were collected from June 1998 to December 2011. The results indicate that price fluctuations primarily affect the Oil and Gas as well as the Mining industries and have the least influence on the Food and Beverage industry. Furthermore, in three out of six of these countries (Canada, France, and the U.K.), oil price changes negatively affect the Pharmaceutical and Biotechnology industry. One possible reason for the negative relationship between oil price changes and the Pharmaceutical and Biotechnology industries in the above-mentioned countries is that the governments of these countries fund their healthcare systems. Portfolio managers and investors will find the results of this study useful because it enables adjusting portfolios based on knowledge of the industries that are impacted the most or the least by oil price fluctuations.

The Forties and Brimmond Fields, Blocks 21/10, 22/6a, UK North Sea

2003 ◽  
Vol 20 (1) ◽  
pp. 557-561 ◽  
Author(s):  
A. Carter ◽  
J. Heale
Keyword(s):  
North Sea ◽  
Low Cost ◽  
New Technology ◽  
Horizontal Wells ◽  
Oil Price ◽  
3D Seismic ◽  
Rotary Drilling ◽  
Geological Society ◽  
Recoverable Reserves ◽  
Infill Drilling

AbstractThis paper updates the earlier account of the Forties Field detailed in Geological Society Memoir 14 (Wills 1991), and gives a brief description of the Brimmond Field, a small Eocene accumulation overlying Forties (Fig. 1).The Forties Field is located 180 km ENE of Aberdeen. It was discovered in 1970 by well 21/10-1 which encountered 119 m of oil bearing Paleocene sands at a depth of 2131 m sub-sea. A five well appraisal programme confirmed the presence of a major discovery including an extension into Block 22/6 to the southeast. Oil-in-place was estimated to be 4600 MMSTB with recoverable reserves of 1800 MM STB. The field was brought onto production in September 1975. Plateau production of 500 MBOD was reached in 1978, declining from 1981 to 77 MBOD in 1999.In September 1992 a programme of infill drilling commenced, which continues today. The earlier infill targets were identified using 3D seismic acquired in 1988. Acquisition of a further 3D survey in 1996 has allowed the infill drilling programme to continue with new seismic imaging of lithology, fluids and saturation changes. The performance of the 1997 drilling showed that high step-out and new technology wells, including multi-lateral and horizontal wells, did not deliver significantly better targets than drilling in previous years.In line with smaller targets, and in the current oil price environment, low cost technology is being developed through the 1999 drilling programme. Through Tubing Rotary Drilling (TTRD) is currently seen as the most promising way of achieving a step

scholarly journals Oil Price Fluctuations and Oil Consuming Sectors: An Empirical Analysis of Japan

2015 ◽  
Author(s):  
Farhad Taghizadeh Hesary ◽  
Ehsan Rasolinezhad ◽  
Yoshikazu Kobayashi
Keyword(s):  
Empirical Analysis ◽  
Oil Price ◽  
Price Fluctuations

scholarly journals The Impact of International Oil Prices on the Stock Price Fluctuations of China’s Renewable Energy Enterprises

Energies ◽  
2019 ◽  
Vol 12 (24) ◽  
pp. 4630 ◽  
Author(s):  
Cody Yu-Ling Hsiao ◽  
Weishun Lin ◽  
Xinyang Wei ◽  
Gaoyun Yan ◽  
Siqi Li ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Stock Prices ◽  
Stock Price ◽  
Capital Investment ◽  
Spillover Effect ◽  
Oil Prices ◽  
Listed Companies ◽  
Oil Price ◽  
Price Fluctuations ◽  
The Impact

In order to address a series of issues, including energy security, global warming, and environmental protection, China has ranked first in global renewable investment for the seventh consecutive year. However, developing a renewable energy industry requires a significant capital investment. Also, the international oil price fluctuations have an important impact on the stock prices of renewable energy firms. Thus, in order to provide implications for market investment as well as policy recommendations, this paper studied the spillover effect of international oil prices on the stock prices of China’s renewable energy listed companies. We used a Vector Autoregressive (VAR) model with innovations using a Factor-GARCH (Generalized Autoregressive Conditional Heteroskedasticity) process to evaluate the impact of market co-movements and time-varying volatility and correlation between the international oil price and China’s renewable energy market. The results show that the international oil price has a significant price spillover effect on the stock prices of China’s renewable energy listed companies. Moreover, the fluctuations of international oil prices have an influence on the stock price variations of Chinese renewable energy listed companies.

scholarly journals The Nexus between Stock Returns of Oil Companies and Oil Price Fluctuations after Heavy Oil Upgrading: Toward Theoretical Progress

Economies ◽  
2019 ◽  
Vol 7 (3) ◽  
pp. 71 ◽  
Author(s):  
Sedighi ◽  
Mohammadi ◽  
Fard ◽  
Sedighi
Keyword(s):  
Stock Market ◽  
Crude Oil ◽  
Stock Returns ◽  
Petroleum Industry ◽  
Oil Industry ◽  
Oil Price ◽  
Investment Policies ◽  
Price Fluctuations ◽  
Oil Companies ◽  
Petroleum Companies

This study attempts to discover the nexus between crude oil price fluctuation after heavy oil upgrading and stock returns of petroleum companies in the U.S. Stock Exchange for the years 2008 to 2018. One of the methods of upgrading heavy crude oil is to extract asphaltene from crude oil. Considering the Asphaltene Removal (AR) as a factor in the nexus between oil price and the stock market is an innovation in the literature of energy finance. Asphaltenes cause many problems in the petroleum industry, which increases the cost of oil production and reduces the financial efficiency of oil companies. The AR is certainly one of the significant matters of the oil industry and can affect the price of oil. Therefore, changes in the price of oil can influence the price of oil company stocks. Hence, changes in stock prices will certainly affect the stock returns of oil companies. In an effort to solve this puzzle, the four financial models were employed to explore the nexus between oil price fluctuations and stock returns. The analysis of the results demonstrated that the oil price fluctuations caused by the removal of asphaltenes influence the stock returns of petroleum companies. Eventually, the theoretical hypothesis was confirmed by considering the USA as a case study. The outcomes of this investigation are a theoretical progression in areas related to the petroleum industry and the stock market that could lead to the adoption of new investment policies in the petroleum industry including investing in new procedures to manage and decrease the costs and time of the AR process, which would result in the advancement of petroleum companies. In fact, we have introduced a modern investment strategy in the oil industry aimed at reducing oil production costs, improving financial statements and increasing the stock returns of petroleum companies. Eventually, we will present new investment policies in the oil industry that can lead to economic growth and development of financial markets especially stock market, derivatives market, futures exchange, commodities exchange, as well as bond market.

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