Drilling ///

Indian explorer bets $1 billion on natural gas, unconventional shale

Great Eastern Energy Corp. will drill 144 new wells over the next four to five years at its Raniganj block in the eastern state of West Bengal, according to CEO Prashant Modi. The company, which began looking at the block in 1993, will invest an additional 50 billion rupees in other unconventional assets, including shale.

Chisholm Energy Holdings announces acquisition in Permian basin

Chisholm Energy announced that it has closed on the acquisition of its first asset, located in the New Mexico region of the Delaware basin.

Lukoil signs cooperation agreement with Kalingrad's government

President of LUKOIL Vagit Alekperov and governor of Kaliningrad Region Anton Alikhanov signed an agreement on cooperation between the company and the regional government for 2017-2022, in Kaliningrad today.

Exxon Mobil announces positive Muruk-1 sidetrack well results

Exxon Mobil Corporation has announced positive results on the Muruk-1 sidetrack well in the Papua New Guinea North Highlands, 13 mi (21 km) northwest of the Hides gas field.

Santos announces positive results from Muruk-1 exploration well in Papua New Guinea

Santos has announced further positive results from the Muruk-1 exploration well, being drilled in the Papua New Guinea Highlands.

Repsol Norge drills dry well west of Aasta Hansteen field

Repsol Norge AS, operator of production licence 705, has completed the drilling of wildcat well 6705/7-1.

Wintershall starts first pilot well in Argentina’s Bandurria Norte field

Wintershall has launched its second operated shale oil pilot project in Argentina (100% working interest). The company has spud the first of three horizontal pilot wells in the Bandurria Norte block, which is located in the western Argentinean province of Neuquén.

Former OPEC member's Byzantine rules seen shooing away explorers

Red tape, rising costs and declining crude prices are throttling exploration in Indonesia, the former OPEC member that now produces less oil than it uses.

Republican window to roll back Obama's rules closes at 14-1

Republicans efforts to rescind a myriad of Obama-era rules ended with 14 regulations eliminated from the books but one late failure.

Scott Safety releases reusable single gas monitor, docking station

Scott Safety introduced the Protégé SG, a reusable single gas monitor, and the MasterDock II, an expandable docking station.

Faroe Petroleum receives consent to drill Brasse appraisal well

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway, the UK and Atlantic Margin, has announced that all relevant consents have been received for the drilling of an appraisal well 31/7-2S on the Brasse discovery (Faroe 50%).

Shale drillers seen outspending the world with $84-billion spree

U.S. shale explorers are boosting drilling budgets 10 times faster than the rest of the world to harvest fields that register fat profits even with the recent drop in oil prices.

One dud oil field doesn't set a trend as Kurds keep drilling

When one of the biggest crude producers in Iraqi Kurdistan downgraded reserves in March, doubts about the economic potential of the region -- a key player in the fight against Islamic State terrorism -- deepened. But evidence suggests it’s too soon to write off the emerging oil province.

Wood Group awarded NCOC framework in Kazakhstan

Wood Group has secured a new framework agreement to provide study engineering for North Caspian Operating Company’s (NCOC) offshore and onshore asset portfolio in Kazakhstan.

Trump takes aim at western U.S. monuments that may hold oil riches

Bears Ears National Monument in Utah boasts stretches of red-and-yellow sandstone so brilliant they appear to be ablaze and rock structures so precarious they appear to defy gravity.

Regional Report: Latin America

Emily Querubin, World Oil

Latin America schleps forward on its quest for recovery

Average U.S. rig count increased by 416 from April 2016, Baker Hughes says

Baker Hughes Incorporated has announced that the average U.S. rig count for April 2017 was 853, up 64 from the 789 counted in March 2017, and up 416 from the 437 counted in April 2016.

Cooperation between Libra consortium partners reduces project's break-even price

Intense collaboration between the Libra area’s partners to develop technologies needed to maximize value has cut the project’s break-even price by approximately $13/bbl.

DNV GL adds asymmetric stern to hull optimization service

A vessel with an asymmetric stern has a twisted aft shape that is designed to account for the differing flow conditions on each side of the propeller. The idea emerged in the 1960s, but due to the difficulty of manually developing the optimal shape, this design failed to make a large impact at the time. DNV GL has revisited the idea.

Royale Energy signs drilling contract for additional wells at Rio Vista field, California

Royale Energy, Inc., announced it has signed a drilling contract for three additional wells in Rio Vista field in Sacramento basin and expects to begin drilling operations by the end of the month.