February 2014 ///
Special Focus
James West, Barclays
Sustained high oil prices, the sanctioning of major projects and the delivery of a large number of offshore rigs, in both 2014 and 2015, are driving the projected increases in international E&P spending.
Dr. Roger Bezdek, Contributing Editor
While a potential Republican takeover of the Senate could benefit upstream oil and gas, a large threat looms in the form of Obama’s massive executive bureaucracy, which vows to bypass Congress.
The global E&P industry is riding the crest of a wave, and nowhere is that more true than in the U.S. For the last three years—and for this fourth year as well—drilling activity has remained in a narrow band of not more than 4,000 wells’ difference.
The average U.S. rotary rig count dropped in 2013 by more than 8%, compared to the previous year.
Crude and condensate. Prices that hovered from the low $90s through $110/bbl throughout the year kept the drill bits turning and the oil flowing in 2013.
The number of producing oil wells in the U.S. rose 3.4% last year.
The number of producing gas wells in the U.S. rose slightly over the course of the last 12 months.
According to the latest data from the U.S. Energy Information Agency, in 2011, U.S. E&P companies saw a 15% increase in proved reserves during 2011, adding nearly 3.8 billion bbl of crude oil and lease condensate.
Staff, World Oil; Mauro Nogarin, Contributing Editor
Though operators expect a good year, most are taking a more careful look at E&P budgets, seeking both improved efficiencies and lower costs.
Robert Curran, Contributing Editor
The outlook remains murky for Canadian producers, but some positive news on pipelines, and a weakening Canadian dollar, bode well for the year ahead.
Sarah French, international oil and gas lawyer
An agreed-upon Joint Plan of Action aims to maintain Iran’s crude oil exports at a flat rate, for an initial, six-month period, and avoids placing additional restrictions on non-domestic purchases.
Features
Ian Lewis, Contributing Editor
Noble Energy’s gas discoveries offshore Israel and Cyprus have caught the attention of international operators, such as Total and Eni, who will soon drill offshore Cyprus.
Hernando Jerez, Rafael Dias, Jim Tilley, Halliburton
An optimized BHA, detailed planning and advanced modeling enabled the team to drill the ERD well with a single BHA per interval. A challenging 12¼-in. tangent interval was drilled to reach the top of the pay zone keeping an 85° sail angle, setting a regional record of 11,150 ft flawlessly drilled from casing to casing in a single run.
Wajid Rasheed, Smart Reamer Drilling Systems Ltd.; Shaohua Zhou, Nasser M. Al-Khanferi, Saudi Aramco
A new caliper tool was designed, tested and qualified to overcome fluid density and BHA placement challenges present in MWD calibration, especially during under-reaming operations.
Jim Redden, Contributing Editor
Operators turn up the heat in frigid NE
Columns
Pramod Kulkarni, World Oil
One stream, many complications
William J. Pike, World Oil
Seismic data management and proprietary data licensing
Jim Redden, Contributing Editor
Basilicata finally gets it
Henry Terrell, Contributing Editor
U.S. Crude oil export ban—Stale leftover from 1975?
Eldon Ball, Contributing Editor
FLNG—a technology whose time has come
Jacques Sapir, Contributing Editor
Russia’s “Game of Thrones”: What is behind gas price caps
Patrick Schorn, Schlumberger
From discrete services to integrated operations
Melanie Cruthirds, World Oil
Blackhawk Specialty Tools: Two sides, one coin
Kurt Abraham, World Oil
Last reasonable objection to Keystone XL removed
News & Resources
Melanie Cruthirds, World Oil
World of oil and gas
Melanie Cruthirds, World Oil
People in the industry
Melanie Cruthirds, World Oil
Companies in the news
Melanie Cruthirds, World Oil
New products and services
Henry Terrell, Contributing Editor
Meeting and events
Henry Terrell, Contributing Editor
Industry at a glance