Oil prices will recover as early as the first half of this year as producers cut back, Continental Resources Inc. founder and CEO Harold Hamm said Wednesday.
PetroQuip Energy Services has successfully run its Big Foot toe sleeve in a recent horizontal completion for an independent operator in the Anadarko basin.
ABERDEEN, United Kingdom -- Deep Casing Tools has announced the establishment of new branch office in the Jebel Ali Free Zone (JAFZA) area in the United Arab Emirates.
HOUSTON -- Noble Energy has announced that its Madison exploration well in the Gulf of Mexico reached the targeted Upper and Middle Miocene objectives and did not encounter commercial hydrocarbons.
STAVANGER, Norway -- Statoil has recieved consent from Petroleum Safety Authority Norway to use the West Epsilon mobile drilling facility for production drilling on Gudrun field located in the North Sea.
MILAN, Italy -- Eni obtained a three-year extension from the Angolan authorities to the exploration period of the prolific Block 15/06, located in Angola’s offshore, approximately 350 km north-west of the capital Luanda and 130 km east of Soyo town.
NORFOLK, United States -- Claxton is extending its large surface riser inventory to meet operators’ needs as more heavy-duty jackup rigs enter the North Sea.
HAMBURG, Germany -- RWE Dea will not spud the next field development well -- Völkersen Nord Z7 -- at Germany’s Völkersen gas field, the company said.
MASON, Michigan -- Fossil Bay Energy has entered into a license agreement with Weatherford Technology Holdings. Fossil Bay has been granted the exclusive right in the U.S. to make, use and sell exhaust gas handling equipment that incorporates three Weatherford patents in the field of use of oil and gas reservoir injection and pressurization applications.
VERNAL, Utah -- Superior Drilling Products has purchased the exclusive manufacturing, marketing and sales rights and the current inventory of the OrBIT completion drill bit product line from Tenax Energy Solutions.
WASHINGTON (Bloomberg) -- The Obama administration plans to require the oil and gas industry to cut methane emissions from the drilling and transportation of fossil fuels by as much as 45% over the next decade, another step in its efforts to curb greenhouse gases tied to climate change.
HOUSTON -- Atwood Oceanics has announced that one of its subsidiaries has entered into an agreement to provide drilling services with the jackup rig Atwood Mako.
ABERDEEN, United Kingdom -- EFC Group has been awarded contracts with major oil and gas drilling contractor companies to the value of $5.52 million (£3.65 million).
HOUSTON (Bloomberg) -- After six straight months of plunging oil prices, U.S. shale drillers have sent the clearest signal to date that they’re retreating.
HOUSTON (Bloomberg) -- U.S. drillers idled rigs seeking oil this week as an expanding glut of supply in the global market pushed crude prices below $50/bbl for the first time in more than five years. Rigs seeking U.S. oil declined by 61 to 1,421, Baker Hughes Inc. said on its website. It was the largest drop in rigs since February 1991. Those drilling for natural gas rose by one to 329, and miscellaneous rigs dropped by one to zero. The total fell 61 to 1,750.
Generating the best frac design, while avoiding costly completion programs and reducing uncertainties on fracture placement, can be achieved using spectral gamma ray and azimuthal sonic LWD technologies.
HOUSTON -- Baker Hughes has announced that the U.S. onshore well count for the fourth quarter of 2014 was 9,544 wells, relatively unchanged compared to the third quarter of 2014. Compared to the fourth quarter 2013, the well count was up 461 wells or 5%.
WEST PERTH, Australia -- Otto Energy has announced that PNOC Exploration Company (PNOC-EC) has expressed an interest in farming into SC55 for a 15% working interest.
NORFOLK, United States -- Claxton, an Acteon company, has installed more than 5,000 conductor guide centralizers, making the company the market leader for conductor centralizer installation in the North Sea.
HOUSTON -- Halcon Resources Corp. has announced further reductions to its 2015 drilling and completion budget. In November, the company announced a budget of $750 to $800 million and said that it intended to operate six rigs in 2015, five less than originally planned. However, Halcon has now announced a revised drilling and completions budget of $375 to $425 million and cut even more rigs.