Industry at a glance
Restoration of Iraqi oil production continues, but at a noticeably slower rate than US officials had hoped for. The 1.1-milion-bopd average during August was far short of the optimistic goal of 1.5 million bopd. So, despite greater output by Saudi Arabia, Iran, UAE and Algeria, OPEC’s overall production has just returned to 2001’s level. This, along with greater world demand, is keeping prices at high levels. US and Canadian rig counts continue to run well ahead of 2002’s levels, and activity in both countries is at a two-year high. In other
countries, there are 32% more international rigs running onshore than a year ago, while offshore units are off 4%. US geophysical activity, reflecting a poor exploration
market, fell 7.1% in September from a month earlier and is now 30.4% behind year-ago levels. |
- 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)
