Chevron Corp. withdrew from a natural gas exploration venture in central Australia, as the second-biggest U.S. energy producer curtails spending.
Shell UK plans to reduce the number of staff and agency contractors who support the company’s UK North Sea operations by at least 250 in 2015. Shell will also introduce changes to UK North Sea offshore shift patterns.
Schlumberger Ltd. must satisfy a list of conditions, in part linked to sanctions, to gain approval for its $1.7 billion bid to buy Russia’s largest oil driller.
The Libra consortium has finished drilling extension well C1. The drilling results confirmed a hydrocarbon column 200 m deep with good permeability and porosity.
CNOOC, China’s biggest offshore explorer, reported a 6.6% percent increase in annual profit even as the plunge in crude prices hit explorers across the world.
Norway has no plans to reduce output to support crude prices after they plunged 50% in the last nine months.
Part 1: In this first of two installments, the latest developments in well logging and formation evaluation are assessed. General developments include ongoing efforts to improve the accuracy of the logging depth measurement and wellbore position, improving standards for well-log deliverables, and multi-log correlation. New developments in LWD, openhole wireline, and sensor design and methodology are discussed in detail.
Coiled tubing (CT) drilling offers an economical alternative to conventional, jointed pipe drilling when accessing mature and low-yield fields. A 40% reduction in cost can be achieved by CT’s ability to drill continuously, mobilize faster, reduce rig time, and require fewer preparations.
A newly developed, ruggedized air-drilling system increased rig up time, reduced costs for mud and cuttings disposal, improved hole cleaning, and increased ROP.
Near-term uncertainties reign in low-cost play
Splinters in the windmills of Putin’s mind
The mainstreaming of MPD
Data courtesy of Baker Hughes.
Market data is delayed and provided by Barchart.
U.S.: 9.179 MMbpd (January 2015)Texas: 3.631 MMbpdLouisiana: 1.424 MMbpdNorth Dakota: 1.218 MMbpd
World: 92.20 MMbpd (January 2015)
OPEC: 36.85 MMbpdOECD: 23.33 MMbpdNon-OECD: 29.8 MMbpdProcessing Gains: 2.22 MMbpd
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Over the last two years, we’ve seen a marked increase in the number of gas divestments taking place in Canada’s oil and gas sector.
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