Industry at a glance
Despite rising tensions in Europe, brought on by the Russia-Ukraine crisis, crude oil prices remained mostly stable, tempered by falling spring demand. All exchanges were trading in a closer range, with West Texas Intermediate averaging just over $100/bbl in March (only $7 behind Brent Blend). Meanwhile, the weather-related spike in natural gas on the Henry Hub settled back below $5/MMBtu. World oil supplies rose by about 1.1 MMbpd, despite sagging output from the OPEC countries, as the shortfall was countered by rising production outside of OPEC. Seasonal changes in Canadian drilling sent the international rig count plummeting, while the U.S. count rose.
- 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)