Oil explorers idled rigs in U.S. fields for the 19th straight week, prolonging an unprecedented retrenchment in drilling.
WASHINGTON, D.C. — The U.S. Department of Transportation (DOT) has announced a package of targeted actions that will address some of the issues identified in recent train accidents involving crude oil and ethanol shipped by rail.
Schlumberger Ltd. reported its lowest first-quarter profit in four years and announced further 11,000 job cuts after customers slashed spending in response to tumbling crude prices.
Petrobras has discovered a new oil and gas accumulation in the Amazon basin, Block AM-T-84.
Huisman has started final factory acceptance testing of its first 900-mt Rope Luffing Knuckle Boom Crane, now called the ‘Hybrid Boom Crane’, at the quayside of the Huisman China Production facility in Zhangzhou.
BG Norge AS, operator of production license 373 S, is completing the drilling of exploration well 34/3-5, located approximately five km southeast of Knarr field in the Northern North Sea. The well is dry.
Future deepwater GOM projects are less vulnerable to low oil prices. Even as the price of oil teeters around $50, the Gulf of Mexico is poised on the brink of a production boom. Repercussions of the price collapse in this offshore market depend less on how low prices go, than how long they stay there.
A number of drilling-the-well-on-paper (DWOP) exercises show increased tripping speeds, reduced fuel consumption by virtue of an integrated ship design, and the built-in efficiencies of the new DMPT, reducing ultra-deepwater well construction time and costs from 20% to 25% per well.
A new, powered, rotary steerable system has delivered superior perfor-mance in challenging, medium and hard formations. When applied to the proper drilling environment, TMT-powered RSS improves ROP and reduces nonproductive time.
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.
Seismic sector is still a reliable E&P market indicator
Deepwater Horizon, five years later
Data courtesy of Baker Hughes.
Market data is delayed and provided by Barchart.
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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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