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Vol. 234 No. 9
Halliburton agreed to cooperate with Gazprom Neft on the introduction of new technologies, to improve operational efficiency in Gazprom fields. Representatives of the two companies will collaborate on technological solutions for hard-to-recover reserves, unconventional resources, deepwater fields and other projects. Gazprom specialists will provide Halliburton with updated data on implementation of specific projects, and Halliburton experts will offer technological solutions.
Qatari state firm RasGas said that it has completed 30 offshore development wells for the $10.3-billion Barzan Gas Project. This will allow the firm to proceed with subsequent project phases, in which the wells will be connected to subsea pipelines that will move gas output 80 km to onshore facilities. A joint development between Qatar Gas and Exxon Mobil, the Barzan Gas Project will supply Qatar's local market with 1.7 Bcfgd of gas in its first phase. RasGas is serving as project manager for the JV. Once completed, the two Phase 1 gas processing trains will bring the company's total gas processing capacity to 11 Bcfd.
With operations in California, Texas, Colorado and Utah, Berry Petroleum Company said that its second-quarter 2013 production averaged 39,529 boed, up 12% from second-quarter 2012’s level. The company's oil output increased to 80% of the production mix. Production from the company's South Midway properties in California averaged 12,395 boed in the second quarter, while output in the Permian basin averaged 8,000 boed. Berry maintains its forecast for a capital budget of $500 million to $600 million to develop its assets during 2013.
Energy Today will acquire Rosdanex Limited, a Cyprus-based oil and gas holding company. Rosdanex owns two oil and gas companies in Russia: Kumskaya Neft (Kuma Oil) and Rufyeganneftegaz (Ryfneft), both of which own concessions in oil-rich Western Siberia. Kuma Oil is a licensed mineral developer in Russia, and has fields explored and mapped, with production plans in place. The company’s initial field is expected to produce 400,000 bbl of oil over the next 12 months. The oil reserves were qualified in a 2011 study by Miller Lents, a Houston-based petroleum consulting firm, as totaling 5.4 million bbl, proved, and 20.1 million bbl, probable. These estimates were subsequently increased and verified to total 105 million bbl of proved and probable reserves. Fully developed, these reserves have an estimated net asset value (NAV) of approximately $525 million.
Liberty Energy Corp., an independent oil and gas company targeting conventional, onshore, Texas oil plays, with a current focus on the Fort Worth basin, has executed a letter of intent (LOI) to acquire 1,100 acres in Baylor County, Texas. The property includes 17 oil wells and four injectors, with low output. Phase 1 of the firm’s redevelopment plan includes working over each of the 17 wells, with expectations of increased ouput per well after workover. There are three additional phases planned to increase the lease’s current production.
Energy Service Partners (ESP) is a new oilfield service company, specializing in wireline pressure control equipment. The Lafayette, La.-based company offers specialized solutions to operators and wireline companies globally. By providing the most advanced equipment available, and with new technology in development, ESP will focus on improving safety and efficiency in wireline operations.
K&B Machine Works broke ground on its North Houma, La., Corporate Headquarters facility. The complex will include 205,000 sq ft of machining space and 12,000 sq ft of administration space, and accommodate K&B’s current manufacturing, tubular accessories and full-length threading operations. The new headquarters will be adjacent to K&B’s existing customer inventory services facility, and are set to open next spring.
Paradigm said that Oilfield Services International, Ofserv, has adopted Sysdrill, Paradigm's well planning and drilling engineering software solution. The product will be used to deliver drilling support services to the West Africa market.
Xtreme Drilling and Coil Services has entered into a 1,095-day contract in Saudi Arabia. The effective commencement date of the contract was July 28, and it will run through July 27, 2016, with a one-year extension option. This contract replaces one of the previously announced short-term extensions on the two CT rigs operating in Saudi Arabia. The second rig is still working under a short-term extension, and Xtreme anticipates that new terms will be finalized within the next 45 days. Xtreme has had CT drilling rigs operating in Saudi Arabia since 2010.
Fairmount Minerals has agreed to purchase nearly all of FTS International’s (FTSI’s) sand mining operations, resin-coating plants and distribution terminals. The transaction significantly increases the operational and logistical capabilities of Santrol, a Fairmount Minerals company. The infrastructure expansion will allow customers to source proppant closer to the wellsite. This purchase includes Northern White operations, adding to Fairmount’s portfolio of Northern White mines in Illinois, Minnesota and Wisconsin, and Hickory sand reserves. Santrol's distribution network will now include more than 50 proppant distribution terminals.
Plexus Holdings, an oil and gas engineering services business, and owner of the proprietary POS-GRIP friction-grip method of wellhead engineering, has acquired the whole issued share capital of a private company, which holds a 25% interest in a private UK engineering company that manufactures specialized oil and gas equipment. The purchase is approximately $1.1 million.
Underwater connector technology company SEA CON has opened a new encapsulating and molding facility in the West Houston area, to support both its Gulf Coast and international business activities. The company said it plans to hold increased stock of its most popular connectors, to help fill the need for short-order custom assemblies.
Summit ESP has opened two new ESP cable service facilities in Norman and Enid, Okla. These full-service cable and repair facilities will allow Summit to respond immediately to field and cable service requests in the Mid-Continent area. Summit provides a complete line of high-performance polypropylene nitrile and EPDM cables, designed to the standards required for ESP systems.
Oilfield services company Express Energy Services has created a short film, “Left Undone,” as part of its contribution to safety in the energy industry. The company said the movie aims to educate and inform oilfield workers on the hazards and safety procedures in the event of hydrogen sulfide (H2S) exposure, while working on a well site. The film, designed to be used in safety training by companies working in the oil field, is offered to the industry free-of-charge, and can be accessed from the company's website.
Abakan, an advanced coatings and metal formulations market specialist, has launched a new minority-owned subsidiary, Terves, to commercialize proprietary reactive materials technology for shale oil and gas. The firm’s TervAlloy technology was initially developed by Abakan’s 41%-owned subsidiary, Powdermet, for the U.S. Department of Defense, to build reactive warheads. The technology has since been reconfigured and customized into engineered reactive materials that can improve the efficiency and safety of well isolation, perforation and completion.
Arnco is constructing a new distribution and R&D facility in Houston. The purpose-built complex includes additional office space, a state-of-the art metallurgical lab, a testing facility and stocking for worldwide distribution. Groundbreaking for the new, 15,000-sq-ft facility has already taken place, and the expected move-in date is December 2013.
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