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The outlook remains murky for Canadian producers, but some positive news on pipelines, and a weakening Canadian dollar, bode well for the year ahead.
Though operators expect a good year, most are taking a more careful look at E&P budgets, seeking both improved efficiencies and lower costs.
Sustained high oil prices, the sanctioning of major projects and the delivery of a large number of offshore rigs, in both 2014 and 2015, are driving the projected increases in international E&P spending.
According to the latest data from the U.S. Energy Information Agency, in 2011, U.S. E&P companies saw a 15% increase in proved reserves during 2011, adding nearly 3.8 billion bbl of crude oil and lease condensate.
An agreed-upon Joint Plan of Action aims to maintain Iran’s crude oil exports at a flat rate, for an initial, six-month period, and avoids placing additional restrictions on non-domestic purchases.
The average U.S. rotary rig count dropped in 2013 by more than 8%, compared to the previous year.
The global E&P industry is riding the crest of a wave, and nowhere is that more true than in the U.S. For the last three years—and for this fourth year as well—drilling activity has remained in a narrow band of not more than 4,000 wells’ difference.
Crude and condensate. Prices that hovered from the low $90s through $110/bbl throughout the year kept the drill bits turning and the oil flowing in 2013.
The number of producing gas wells in the U.S. rose slightly over the course of the last 12 months.
While a potential Republican takeover of the Senate could benefit upstream oil and gas, a large threat looms in the form of Obama’s massive executive bureaucracy, which vows to bypass Congress.
The number of producing oil wells in the U.S. rose 3.4% last year.
An optimized BHA, detailed planning and advanced modeling enabled the team to drill the ERD well with a single BHA per interval. A challenging 12¼-in. tangent interval was drilled to reach the top of the pay zone keeping an 85° sail angle, setting a regional record of 11,150 ft flawlessly drilled from casing to casing in a single run.
Noble Energy’s gas discoveries offshore Israel and Cyprus have caught the attention of international operators, such as Total and Eni, who will soon drill offshore Cyprus.
Operators turn up the heat in frigid NE
A new caliper tool was designed, tested and qualified to overcome fluid density and BHA placement challenges present in MWD calibration, especially during under-reaming operations.
Basilicata finally gets it
One stream, many complications
Blackhawk Specialty Tools: Two sides, one coin
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Drill Bit Classifier
World Oil published its renowned Drill Bit Classifier in September 2013. The Drill Bit Classifier is a comprehensive listing of major manufacturers' d...
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