It actually stands for "cube development" and the colors mean something too, totally forgot what they mean. For decades, we have been at the forefront of oil and natural gas exploration and development. © 2020 Hart Energy. 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. Rextag database of energy infrastructure assets. Ovintiv interest lies in this asset’s multiple stacked horizons and potential to deliver long-term returns. Ovintiv holds positions in several high-quality plays focused on generating cash flows, including the Bakken, Duvernay, Eagle Ford and Uinta basins. A comprehensive source for coverage of the financial landscape of the oil and gas industry. Ovintiv is one of North America’s oldest oil and natural gas producers. Ovintiv’s entry into basins with multiple, stacked layers of resource led to the next advancement in the shale revolution—the cube. Our roots go back to the late 1800s when workers for the Canadian Pacific Railway (CPR) drilling a water well discovered 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 … Connecting upstream production to the downstream sector and putting midstream in the center of it all. 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. Industry News. Cube development drives capital efficiency, boosts well performance and grows premium inventory. Ovintiv Inc. is a leading North American exploration and production (E&P) company focused on developing its high-quality, multi-basin portfolio. 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. Reproduction in whole or in part, in any form or medium without express written permission is prohibited.
Located in North Dakota, this multi-bench oil resource play delivers high-margin production. Database of selected U.S. and international exploration wells. We expect these trends to continue just like we’ve demonstrated everywhere else we operate.”.
Leading in cycle times and water management operational practices, we continue to deliver improved well results with superior capital efficiencies. In 1884, CPR drilled the first producing gas well in Alberta, Canada, to supply railway buildings with natural gas. The Anadarko Basin is located in west-central Oklahoma and is one of the top liquids-rich resource plays in North America. The latest technologies, technical solutions and strategies in Exploration, Drilling, Production and more. Information on assets, buyers and sellers, deal values, and more. Three obstructions will need to be removed following Hurricane Delta, Corps says. The cube has set the standard for development of multiple stacked resources, moving beyond drilling and previous completions techniques. Multiple stacked geologic horizons make this play primed for long laterals and Ovintiv’s proven cube development application. 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’s acreage is located in the prolific, oil-rich Midland Basin in Texas. That well was in use for about 50 years. 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…
All rights reserved. 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. She covers exploration and production. Innovation has been the driving force behind Ovintiv’s evolution. Ovintiv was among the first in the oil and natural gas industry to use slant drilling techniques on a large scale to drive performance. 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. Subscribe for free to our newsletters for the latest energy news. Deploying multiple rigs on a single large pad, the layers of resource are drilled and completed simultaneously, maximizing economic recovery. Sounds like their Utah offices will know tomorrow, Denver/Calgary Wednesday, and Houston Thursday. From the late 1970s to the early 1990s, we credited our industry leading position to continuing advancements in slant drilling. Prices for top E&P stocks and commodities. 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 has ~360,000 net acres held by production, primarily in the black oil window of SCOOP and STACK. 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.
A study predicts massive industry consolidation and persisting bottlenecks in the Permian Basin. These techniques enabled the use of multi-well pads and better targeting. Ovintiv has prime acreage in this tried and true basin. A searchable database of oil and gas debt and equity offerings. 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. Deploying multiple rigs on a single large pad, the layers of resource are drilled and completed simultaneously, maximizing economic recovery.
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. The Montney is located in western Canada and is one of the largest unconventional oil and gas deposits in North America. “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. The basin has significant existing infrastructure and is located in good proximity to attractive markets like Cushing, Oklahoma, and the Gulf Coast. Ovintiv has a premier position in this condensate-rich asset located in west-central Alberta.
Ovintiv's large-scale cube development model utilizes multi-well pads and advanced completion designs to maximize returns and resource recovery from its reservoirs. 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. 3D Cube Development. Decommissioning of the Deep Panuke offshore gas project is currently underway. We opted to make use of this newly discovered resource.
Subscribe to get unmatched coverage of the oil and gas industry’s entire landscape. • Jayaram has a neutral rating on Ovintiv. Talking with some friends at the company.
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. “We’ve outperformed initial expectations through rapid cost reductions and consistent well performance. This basin is an oil play positioned in the Greater Monument Butte Unit and the Central Basin in Utah. The impact of Ovintiv…
As an oil-weighted top tier asset located in south Texas, Ovintiv is focused on high-margin Eagle Ford shale and Austin Chalk development. continuous operational excellence in our top tier, approach, we are poised to lead in all areas where we operate. Encana's fast paced and structured innovation is … Ovintiv’s entry into basins with multiple, stacked layers of resource led to the next advancement in the shale revolution—the cube. Velda Addison is the group senior editor for Hart Energy’s editorial team. Ovintiv, formerly known as Encana, said it has shaved more than $1 million off drilling and completion costs in the Stack shale play. The Permian Basin is one of the largest known oil deposits in the U.S. with multiple benches of oil-saturated rock. Our primary focus is on the development of the Spraberry and Wolfcamp formations in the Midland Basin, where Ovintiv holds a large position. Ovintiv announced layoffs this week.
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