WorldOil Cortec launches new CX-HB3.0 Hydra-Balance Choke and Panel System The system, which is API 6A and NACE MR0175 compliant, is a hydraulic dual choke unit and can be controlled via a compact remote panel that can be installed in close proximity to the driller. Conoco may dismiss up to 25% of Houston HQ staff as Concho buy closes “The process to determine the exact number of impacted employees is ongoing,” the company said in an email on December 1. “However, we anticipate the number of reductions in Houston could meet the threshold of 500 or more.” Weir Oil and Gas launches improves drill-thru operations with latch back pressure valve system Weir’s unique design eliminates the threat of damage to the BPV, nonproductive time from stuck drill bits, and potential pressure integrity issues—protecting personnel and equipment. U.S. sanctions China’s CNOOC on drilling in disputed South China Sea CNOOC’s operations in the South China Sea have run into controversy because China claims drilling rights in waters far from its borders, and within 200 miles of countries like Vietnam and the Philippines. It took a global pandemic for OPEC to slam the door on U.S. shale “In the future, certainly we believe OPEC will be the swing producer — really, totally in control of oil prices,” Bill Thomas, CEO of EOG Resources, the biggest independent shale producer by market value, said earlier this month. “We don’t want to put OPEC in a situation where they feel threatened, like we’re taking market share while they’re propping up oil prices.” Banks, insurers face pressure to stay away from Arctic drilling projects Activists, Native Alaskans, and more recently large shareholders have worked to persuade lenders and insurers they were jeopardizing the climate, their investments, and their reputation by underwriting Arctic drilling. Total taps Maersk Drilling for two-rig Suriname campaign The campaign is expected to commence in early 2021, with an estimated firm combined duration of 500 days. The estimated firm total contract value is approximately USD $100MM, including rig upgrades and integrated services provided. Turkey wants to keep EU ties, despite sanction threat over offshore drilling Turkish Cypriots and Cyprus have been at loggerheads over offshore gas reserves in disputed waters. Cyprus has been pushing other EU states to expand a blacklist against Turkey over its natural-gas exploration in the eastern Mediterranean. Other governments including Germany were wary of provoking Turkey. Noia’s virtual fall seminar in East Canada focuses on energy transition While 2020 has provided significant challenges, “Noia has remained committed to providing value to our members and to helping them through this difficult period,” said Noia CEO Charlene Johnson. “Our virtual fall seminar was a great way to step outside the typical formula of virtual events that met the standard people have come to expect from Noia.” NexTier, NOV team up to field test electric frac spread NexTier and NOV will collaborate to test the operational capability of the Ideal eFrac prototype in the field and under normal operating conditions. The agreement provides NexTier the option to transform from the test phase to the future purchase of the first Ideal eFrac fleet manufactured by NOV.