Oil and Gas 360 It has taken five years and $5.7 billion, but Chevron announced a successful operational and technical breakthrough on August 12 that could create a new template for deep sea exploration with equipment improvements that permit operations at pressures of 20,000 psi. Until their announcement, the generally accepted technical limit was 15,000 psi. The company has partnered
CALGARY, Alberta, Aug. 14, 2024 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“ Birchcliff…
BOE Report An oil production breakthrough that producers say can safely tap ultra-high pressure fields could put up to 5 billion barrels of previously inaccessible crude into production, analysts said. Chevron on Monday disclosed it had pumped first oil from a field at 20,000 pounds per square inch pressures, a third greater than any prior well. Its $5.7 billion Anchor project
Yahoo Finance PECOS COUNTY, Texas – On a sprawling ranch in Pecos County in late July, oil well control specialist Hawk Dunlap used a backhoe to uncover an abandoned or so-called zombie well that had sprung back to life despite being plugged just over a year earlier, hissing gas and bubbling toxic water into the dry Texas dirt. Dressed in
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