Industry at a glance
The world’s three major crude benchmarks fluctuated after being subjected to domestic factors and geopolitical risks. In May, the price of WTI ($70.44) was suppressed by the inability of producers to get product to the coast for export. Brent averaged $6.80 more than WTI, the highest disparity in three years. Brent’s premium to Dubai ($68.43) shrunk to the lowest level since January, due to U.S.-Iran sanctions and uncertainties about OPEC’s production cuts. Surging shale fields pushed U.S. production to a new record high, while Russia boosted output by 70,000 bpd, to ascertain capabilities ahead of its likely easing of constraints. International activity remained resilient in April, with the exception of Canada, which dropped to 98 units, a decline of 55%, due to continued spring break-up. The U.S. rig count averaged 1,046 in May, up 3.5% from April. 
- 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)
