Completions ///

New Mexico shale drillers brace for impact of a possible Joe Biden victory

The Permian in New Mexico, unlike in Texas, lies largely on federal land. And Biden, the Democratic candidate for president, has promised to ban new fracing on federal land on “day one” if elected.

Hunting adds recomplete charges to Energetics product line

Recomplete charges are designed to produce perforations during well recompletion activities. Utilizing Hunting’s EQUAfrac shaped charge technology, they deliver an optimized entry hole size and minimum variation through both liner and casing.

Redefining intelligent completions

Paul Day, Weatherford

The future lies in integrating the drilling, completion and production phases. This life-of-well approach will deliver the next-generation well intelligence needed to reduce the cost of asset ownership, while maximizing profitability.

PESA says oilfield job losses exceed 100,000, but layoff rates are slowing

The monthly Oilfield Services and Equipment Employment Report, compiled and published by the Petroleum Equipment & Services Association, shows total job losses due to pandemic-related demand destruction reached 103,420 in August. OFS employment is down more than 121,000 jobs since August 2019 and is at its lowest point since March 2017.

Liberty Oilfield Services puts Schlumberger tech in its yards, Halliburton in its crosshairs

“Customer demand has told us to grow at this pace, and then deals like this come to us,” Liberty CEO Chris Wright said in an interview after the deal was announced on Tuesday. “Our goal with this acquisition is to keep getting better, but to the extent we succeed at that, it probably leads to us being the leader sometime down the road.”

Schlumberger sells its frac operations to Liberty Oilfield Services for 37% equity stake

Liberty Oilfield Services Inc. and Schlumberger announced an agreement for the contribution of Schlumberger’s onshore hydraulic fracturing business in the United States and Canada, including its pressure pumping, pumpdown perforating, and Permian frac sand businesses to Liberty, in exchange for a 37% equity interest in the combined company.

Abu Dhabi merges oilfield services companies into single unit

Abu Dhabi has been merging some companies as it looks to bolster the economy and diversify from hydrocarbon production. Earlier this year, it decided to combine utilities Taqa and ADPower.

Halliburton looks beyond U.S. shale, charting a “fundamentally different course”

“As oil demand recovers, I expect the international business will continue to be a more meaningful contributor to our revenue going forward,” Chief Executive Officer Jeff Miller told analysts and investors during a conference call. “North America production is likely to remain structurally lower in the foreseeable future and has slower growth going forward.”

Aker Solutions, Kvaerner transform to seize renewable-energy opportunities

“At a time when renewables have developed from niche technologies to global industries, Aker’s ambitions exceed the announced spin-offs in Aker Solutions,” Aker Chief Executive Officer Oyvind Eriksen said in a statement. “We take an active role to position ourselves in a broader and rapidly growing renewable energy industry.”

Biden says fracing “not on the chopping block” in his $2 trillion climate plan

Joe Biden’s climate-change plan unveiled Tuesday includes $2 trillion in spending over four years with a goal of a 100% clean-energy standard by 2035. That’s more spending over a shorter period than the $1.7 trillion, 10-year plan that Biden had offered during the Democratic primary.

Weatherford lands 20-well contract with Iraqi Drilling Company

Weatherford International signed an 18-month contract with the Iraqi Drilling Company to provide services and project management for the drilling and completion of twenty wells in the Al-Nasiriyah field in the Dhi Qar province in southern Iraq.

Tendeka awarded five-year contract extension with Oman operator

Independent global completions service company Tendeka has been awarded a five-year contract extension to supply a major operator with zonal isolation technologies for all fields in Oman.

Halliburton launches real-time wireless depth correlation system

Halliburton introduced the DynaTrac Real-Time Wireless Depth Correlation System, a new technology that reduces uncertainty and saves rig-time by enabling operators to accurately position packers, perforating guns and the bottom-hole assembly without running wireline or moving the work string.

Santos names Weatherford ‘Contractor of the Year’

Brett Darley, Executive Vice President, Offshore, Santos, commented, “Weatherford provided a solution that enabled Santos to execute a safe, efficient tubular running operation with hands-free technology. Safety is extremely important at Santos and Weatherford delivered an outcome with zero incidents and zero near-misses.”

Weatherford Vero automated connection integrity successfully completes 100 runs

Weatherford's automated connection integrity system has successfully completed 100 runs and 33,000 tubular connections in operations worldwide.

Daily Brief podcast: The impact of oil prices and politics on oilfield service companies

Kurt and Cameron talk about how oil prices, state and federal politics are impacting oilfield service companies, and how positions taken today will affect a market recovery.

World Oil analysis: Texas Railroad commissioners face difficult decision on prorationing

Kurt Abraham, World Oil

The three Railroad commissioners are faced with what may be the major decision of their professional lives—whether to prorate or not. And, in tandem, the fate of many industry companies and individuals’ jobs could be hanging in the balance.

Oilfield service companies feeling the strain of shale’s collapse

No one is feeling the pain of an oil collapse more than the shale producers. Except, perhaps, their suppliers.

Equinor halts U.S. land activities as part of $3B cost-reduction plan

Equinor says the company can be organic cash flow neutral before capital distribution in 2020 with an average oil price around $25/bbl for the remaining part of the year.

Tendeka lands four-year zonal isolation contract in Malaysia

Tendeka has secured a four-year contract to supply its zonal isolation technologies across a leading operator’s Malaysian assets.