We have a significant land position through the core of the Montney where our technical teams have conducted extensive delineation of the high-margin liquids fairway. Prices for top E&P stocks and commodities. In 2007, Ovintiv’s culture of knowledge sharing led to the transfer of horizontal drilling techniques, first employed in the Barnett Shale of Texas, to Canada’s Montney formation, where it was successfully refined and returned to Texas. We expect these trends to continue just like we’ve demonstrated everywhere else we operate.”. The impact of Ovintiv… The basin has significant existing infrastructure and is located in good proximity to attractive markets like Cushing, Oklahoma, and the Gulf Coast. Ovintiv interest lies in this asset’s multiple stacked horizons and potential to deliver long-term returns. Tehran has threatened to block the vital Gulf oil shipping route during its standoff with the United States, after Washington last year withdrew from Iran's 2015 nuclear deal with world powers and reimposed sanctions, including on Tehran's vital oil exports. The results come nearly a year after the newly renamed and relocated Denver-based Ovintiv acquired Newfield Exploration Co. along with its oil-weighted stacked-pay asset with multiple zones—which proved to be ideal for Ovintiv’s cube development model. Ovintiv has ~360,000 net acres held by production, primarily in the black oil window of SCOOP and STACK. From the late 1970s to the early 1990s, we credited our industry leading position to continuing advancements in slant drilling.
Today, we are focused on drilling in the condensate-rich regions of the play and have increased the liquids share of Montney production to ~25% in 2019, from 4% in 2013. Ovintiv is one of North America’s oldest oil and natural gas producers. It actually stands for "cube development" and the colors mean something too, totally forgot what they mean. These techniques enabled the use of multi-well pads and better targeting. Reproduction in whole or in part, in any form or medium without express written permission is prohibited. Ovintiv was among the first in the oil and natural gas industry to use slant drilling techniques on a large scale to drive performance. Connecting upstream production to the downstream sector and putting midstream in the center of it all. Ovintiv’s entry into basins with multiple, stacked layers of resource led to the next advancement in the shale revolution—the cube. Sounds like their Utah offices will know tomorrow, Denver/Calgary Wednesday, and Houston Thursday. 3D Cube Development. The latest technologies, technical solutions and strategies in Exploration, Drilling, Production and more. Innovation has been the driving force behind Ovintiv’s evolution. Talking with some friends at the company. Our roots go back to the late 1800s when workers for the Canadian Pacific Railway (CPR) drilling a water well discovered natural gas.
We have a significant land position through the core of the Montney where our technical teams have conducted extensive delineation of the high-margin liquids fairway. Ovintiv announced layoffs this week. “With a rate of return of about 50%, this play not only competes within our portfolio, but … it is competitive with the very best shale plays across North America,” Ovintiv CEO Doug Suttles said on a recent call with analysts.
Leading in cycle times and water management operational practices, we continue to deliver improved well results with superior capital efficiencies. A searchable database of oil and gas debt and equity offerings. Velda Addison is the group senior editor for Hart Energy’s editorial team. A comprehensive source for coverage of the financial landscape of the oil and gas industry. The Permian Basin is one of the largest known oil deposits in the U.S. with multiple benches of oil-saturated rock. Three obstructions will need to be removed following Hurricane Delta, Corps says. For decades, we have been at the forefront of oil and natural gas exploration and development. Multiple stacked geologic horizons make this play primed for long laterals and Ovintiv’s proven cube development application. Since the early 2000s, Ovintiv has focused on North American “resource plays,” a term it coined for unconventional resources locked deep in tight sands and shales. Information on assets, buyers and sellers, deal values, and more. The Anadarko Basin is located in west-central Oklahoma and is one of the top liquids-rich resource plays in North America. continuous operational excellence in our top tier, approach, we are poised to lead in all areas where we operate. Ovintiv, formerly known as Encana, said it has shaved more than $1 million off drilling and completion costs in the Stack shale play. Cube development drives capital efficiency, boosts well performance and grows premium inventory. In 1884, CPR drilled the first producing gas well in Alberta, Canada, to supply railway buildings with natural gas. When combined with our cube development model, expected synergies and relentless focus on efficiency, we are positioned to deliver highly efficient growth and quality returns.” Lee K. Boothby, Newfield Chairman, President and CEO, stated, “This transaction is the best path forward for … Ovintiv holds positions in several high-quality plays focused on generating cash flows, including the Bakken, Duvernay, Eagle Ford and Uinta basins. This basin is an oil play positioned in the Greater Monument Butte Unit and the Central Basin in Utah. Decommissioning of the Deep Panuke offshore gas project is currently underway. Deploying multiple rigs on a single large pad, the layers of resource are drilled and completed simultaneously, maximizing economic recovery. As an oil-weighted top tier asset located in south Texas, Ovintiv is focused on high-margin Eagle Ford shale and Austin Chalk development. The play spans ~50,000 square miles and is up to 1,000 feet thick through the core with multiple target horizons—making this play ideal for Ovintiv’s proven cube development approach. Ovintiv’s entry into basins with multiple, stacked layers of resource led to the next advancement in the shale revolution—the cube. Encana's fast paced and structured innovation is … Located in North Dakota, this multi-bench oil resource play delivers high-margin production. Peters & Co. (Harbie Jawanda) • Well costs and results are areas of focus • With the company “spudding its first cube style development” in April, Jawanda seeks any additional update with respect to its development plan for this year • Rates Ovintiv… Database of selected U.S. and international exploration wells. The Montney is located in western Canada and is one of the largest unconventional oil and gas deposits in North America. The cube has set the standard for development of multiple stacked resources, moving beyond drilling and previous completions techniques.
Ovintiv's large-scale cube development model utilizes multi-well pads and advanced completion designs to maximize returns and resource recovery from its reservoirs. She covers exploration and production. © 2020 Hart Energy.
The play spans ~50,000 square miles and is up to 1,000 feet thick through the core with multiple target horizons—making this play ideal for Ovintiv’s proven cube development approach. Ovintiv Shows Progress In Anadarko Basin Post Newfield Acquisition, Meritorious Awards for Engineering Innovation (MEAs), Army Corps Still Assessing Post-storm Calcasieu Ship Channel, Iran Building Oil Pipeline To Terminal Outside Gulf. Subscribe for free to our newsletters for the latest energy news. Ovintiv has a premier position in this condensate-rich asset located in west-central Alberta. Ovintiv has prime acreage in this tried and true basin. Industry News. A study predicts massive industry consolidation and persisting bottlenecks in the Permian Basin. Subscribe to get unmatched coverage of the oil and gas industry’s entire landscape. Ovintiv’s acreage is located in the prolific, oil-rich Midland Basin in Texas. The results come nearly a year after the newly renamed and relocated Denver-based Ovintiv acquired Newfield Exploration Co. along with its oil-weighted stacked-pay asset with multiple zones—which proved to be ideal for Ovintiv’s cube development model. Deploying multiple rigs on a single large pad, the layers of resource are drilled and completed simultaneously, maximizing economic recovery. Ovintiv Inc. is a leading North American exploration and production (E&P) company focused on developing its high-quality, multi-basin portfolio. That well was in use for about 50 years. • Jayaram has a neutral rating on Ovintiv. While some players in the Anadarko Basin’s Scoop/Stack play have seen better days, the company formerly known as Encana Corp. said one-fourth of its 2019 free cash flow was delivered by assets in the basin. Our primary focus is on the development of the Spraberry and Wolfcamp formations in the Midland Basin, where Ovintiv holds a large position. We opted to make use of this newly discovered resource.
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“We’ve outperformed initial expectations through rapid cost reductions and consistent well performance. Rextag database of energy infrastructure assets.
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