Industry at a glance
Production in the UAE is up 4.3% since June 2005, to 2.41MMbpd. US oil production is down 4.2% from one month ago. Workover rigs are up 3.1%, with the Mid-Continent section gaining 40 rig units, or almost 20%. Meanwhile, world oil prices continued to climb, with WTI reaching $67. US natural gas prices were also on the rise, thanks to high coal prices. Electric companies in Wyoming’s Powder River basin are already looking at the upcoming winter months, after two separate train derailments in mid-May reduced coal shipments by 5 million tons. Track repairs, stretching 100 mi, will continue through November. Mobile international offshore rigs under contract in Europe and the Mediterranean Sea remained stable at 95 for four consecutive
weeks in July. According to ODS-Petrodata, this is the highest level since January 2002. Texas rigs remain above 600, their highest level since the oil price collapse of
1986. |
- Applying ultra-deep LWD resistivity technology successfully in a SAGD operation (May 2019)
- Adoption of wireless intelligent completions advances (May 2019)
- Majors double down as takeaway crunch eases (April 2019)
- What’s new in well logging and formation evaluation (April 2019)
- Qualification of a 20,000-psi subsea BOP: A collaborative approach (February 2019)
- ConocoPhillips’ Greg Leveille sees rapid trajectory of technical advancement continuing (February 2019)
