Industry at a glance
Vol. 229 No.8 The June international rotary rig count continued creeping b
The June international rotary rig count continued creeping back up following its low in April, largely due to the climb in Canada, which increased by 131 rigs. More rigs have been running overall in 2008 than in 2007, with increases in both the US workover and rotary rig categories-173 and 131 respectively. International geophysical activity is also much higher in 2008 than in 2007, with the number of seismic crews working increasing from 277 to 452. June global oil supply increased by 300,000 bpd to 86.08 million bpd. After several months of cuts, IEA increased its 2008 global oil demand forecast to 86.9 million bpd, 80,000 bpd above last month’s estimate. High oil prices contributing to a decrease in OECD demand are offset by strong growth in developing economies and strong non-OECD consumption. OPEC supply increased to 32.4 million bpd from 32.07 million bpd on supply increases from Saudi Arabia and Iran. |
- 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)