US: Permian oil output set to grow in Q2 as fracking reaches 12-month high; flaring lowest since 2017
12 Apr 2021
Fracking in North America has almost recovered to pre-pandemic levels, with the count of started frac jobs reaching a 12-month high in March 2021, a
Rystad Energy report shows. The number of completed wells in the Permian basin during the first quarter of 2021 exceeded the required output maintenance level, so oil production is set to rise in the current quarter – but will likely slow again later in the year.
Rystad Energy has already registered 967 started frac operations in North America for March 2021. As satellite data coverage is incomplete for the past few days, we estimate that about 97 jobs are yet to be detected if the running rate of frac activity is maintained in the remainder of the month. This will bring the final count for March to about 1,064 wells – exceeding the January 2021 activity level by about 6.5%.
LOS ANGELES, April 12, 2021 /PRNewswire/ Riva Technology and Entertainment (RTE) announced that they have signed multiple brand licensing deals with toy industry leader, MGA Entertainment
Independent Oil and Gas (IOG) has announced the spudding of the Elgood development well, 48/22c-H1. Elgood is the first of five planned development wells in IOG s Phase 1 project and is expected to take approx. three months to drill and complete, after which the rig will move on to Blythe in early Q3.
Occupational Licensing Reform Down South SHARE
Two years ago, I wrote about a constitutional challenge to Mississippi’s absurd eyebrow‐threading licensing requirement, filed by the Mississippi Justice Institute. It’s cases like these that motivated me to serve as the chairman of the board of advisors for MJI, and as an honorary fellow for its parent think tank, the Mississippi Center for Public Policy. That and the chance to attend Ole Miss football games, of course.
I’m happy to report that the eyebrow threading case has resulted in legislative success–on Friday, Gov. Tate Reeves signed a bill repealing the licensing rule–and has inspired other cosmetology‐related legal challenges and reforms in Mississippi as well.
Brazil: Petrobras signs Sepia and Atapu surplus Agreement
12 Apr 2021
Petrobras has signed an Agreement with the Federal Government, which establishes the stakes in each contract and the amount of compensation to Petrobras in the event of a bid for the
Transfer of Rights´ surplus volumes in the fields of Sépia and Atapu.
The Transfer of Rights Agreement, signed in 2010 between Petrobras and the Federal Government, included the exercise of exploration and production activities in the areas of Sépia and Atapu, with production volumes limited to 500 million barrels of oil equivalent (boe) in Sépia and 550 million boe in Atapu.