Fyi. Cost-control is everything. --- “There’s a proverb in...

Fyi.
Cost-control is everything.
---


“There’s a proverb in Norway that says necessity teaches the naked woman how to knit,” said Bjorn Otto Sverdrup, a Statoil vice president, as he and another executive of the Norwegian oil company toured the Eagle Ford shale field the other day.."




...

Drillers Answer Low Oil Prices With Cost-Saving Innovations

By CLIFFORD KRAUSSMAY 11, 2015
Photo


Oil wells being tested at a Statoil site near Runge, Tex. Statoil, a Norwegian company, is experimenting in the Eagle Ford shale field with a number of new drilling tools and techniques. Credit Michael Stravato for The New York Times


KENEDY, Tex. — These are lean days in the South Texas oil patch, with once-bustling roads and hotels now empty as the price of oil has plunged and rig after rig sits idle.

Still, production has barely declined, a testament to the rapid gains that oil producers are making in coaxing ever more oil from older wells and the few new wells they are still drilling — and doing both while investing far less money.
The Norwegian oil giant Statoil, for instance, is experimenting here in the Eagle Ford shale field with a host of new drilling tools and techniques.


"..“We can’t control the commodity prices, but we can control the efficiency of our wells,” said Ben Mathis, Statoil’s Eagle Ford operations manager. “The industry has taken this as a wake-up call to get more efficient or get out.”...



One of GE Oil & Gas’s most active partners in cutting costs is Statoil. Using a concept the company calls “the perfect well,” Statoil collects data from its own wells and those of partners and competitors and then holds seminars for its employees to determine which drilling and fracking techniques work best.

Statoil is testing new ways to drill and complete wells more efficiently,..."


Continue reading the main story
KENEDY, Tex. — T

Drillers Answer Low Oil Prices With Cost-Saving Innovations

www.nytimes.com/.../drillers-answer-low-oil-prices-with-cost-saving-innov...
May 11, 2015 - Credit Michael Stravato for
The New York Times ... News Analysis: King's Absence at Meeting Signals a Saudi-U.S. Marriage Adrift MAY 11, 2015 ...