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DOE to invest $20 million in new oil and gas research projects

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The US Department of Energy (DOE) announced the availability of $20 million for cost-shared oil and gas research projects to increase recovery efficiency from unconventional oil and gas wells and to prevent offshore spills and leaks. This new funding opportunity seeks projects that will advance DOE’s objective to support a more environmentally responsible, secure, and resilient US energy infrastructure, while enhancing economic competitiveness and national security...

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Encana’s cube development increases Permian type curves, premium return inventory

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Encana's cube development approach combined with advanced completion practices have significantly enhanced its Permian well performance and led to a 20% increase in the company's Permian type curves and 700 new premium return locations. The 700 new premium return locations is five times the quantity the company will drill this year and brings total premium return locations in the play to 3,450. Encana expects it will develop less than 30% of its Permian premium inventory through 2021....

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Hess takes final investment decision for Liza phase 1 development offshore Guyana

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Hess has sanctioned the first phase of development of the Liza Field, one of the industry’s largest oil discoveries of the past decade, located on the Stabroek Block offshore Guyana. In addition, the company announced positive results from the Liza-4 well which encountered more than 197 ft (60 m) of high-quality, oil-bearing sandstone reservoirs and will underpin a potential Liza Phase 2 development. Gross discovered recoverable resources for the Stabroek Block are now estimated to be 2.0 billion to 2.5 billion barrels of oil equivalent, including Liza and other successful exploration wells on Liza Deep, Payara and Snoek....

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IHS Markit: Large production growth expected for Canadian oil sands through 2026

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IHS Markit has released its outlook for Canadian oil sands production through 2026. IHS Markit expects large production growth through 2019—making Canada the second largest source of global supply growth during that time. More modest, but sustained growth is expected beyond 2019, with oil sands production at the end of 2026 around one million bpd higher than in 2017...

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