Industry at a glance
Vol. 225 No. 4 Whether or not OPEC will follow through with its April output cut remained to be seen at press time. Nevertheless, latest monthly figures (February) show that total world oil supply has been at an 82-mill
Whether or not OPEC will follow through with its April output cut remained to be seen at press time. Nevertheless, latest monthly figures (February) show that total world oil supply has been at an 82-million-bpd plateau over the last three months. The only output gain of any significance was an 80,000-bopd increase in the Former Soviet Union. Although US geophysical activity was down slightly from a month earlier, it was still ahead of the same month last year, indicating some stabilization of activity. International drilling is running ahead of last year, about 3% for onshore rigs and nearly 8% for offshore activity. The latter is due mostly to a doubling of rigs offshore Mexico. Canadian land drilling remains at a white-hot pace, at 565 rigs. Active US onshore rigs are up 28%, but offshore drilling is down 10%. |
- 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)