Oil fell after the first monthly gain since June as Saudi Arabia stepped up production, lifting OPEC’s output beyond its collective quota for a ninth month.
Maersk Drilling has been awarded a contract from Eni Ghana Exploration and Production Ltd., an Eni subsidiary, for employment of the newbuild drillship Maersk Voyager.
The LetterOne Group and RWE AG have completed RWE’s sale of RWE Dea AG to LetterOne.
CGG has started acquiring the Davros 3D BroadSeis and BroadSource multi-client survey in the Northern Carnarvon basin on the North West Shelf of Western Australia.
MEXICO CITY -- Petroleos Mexicanos is negotiating reduced rig rates with all of its providers after the state-owned oil producer posted a ninth straight quarterly loss on slumping crude prices.
ABERDEEN, United Kingdom -- Wood Group Kenny (WGK) has appointed Bob MacDonald as CEO, effective April 6. MacDonald moves into the role from his position as WGK regional director for the North Sea.
Near-term uncertainties reign in low-cost play
A new, integrated underreamer, with real-time communications, was used to underream 6,555 ft in a North Sea well with minimal ibrations. An in-gauge borehole made it easy for successful running, rotation and cementing of a 4,300-ft liner.
The downward slide in crude oil prices is expected to have a proportional impact on oil-directed drilling in the United States. On the other hand, the Henry Hub gas price has remained under $4/Mcf since 2010, so gas-directed drilling is expected to remain steady during 2015.
Injection pressures of proppant-laden slurry and proppant-free spacer, using a pulsing approach, were found to be significantly lower than those applied with conventional hydraulic fracturing treatments.
Changing times, changing technology model
Crude oil's fifty shades of grey
Data courtesy of Baker Hughes.
U.S. Natural Gas (Henry Hub): $2.706West Texas Intermediate: $49.71Brent Blend: $59.79
U.S.: 9.179 MMbpd (January 2015)
World: 92.20 MMbpd (January 2015)
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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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