Canada’s oil sands industry faces an equal risk from its reputation as an environmental laggard, as from high operating costs, industry observers said.
The failure to win approval for pipelines like TransCanada Corp.’s Keystone XL and Enbridge Inc.’s Northern Gateway is tied to concerns about carbon emissions with oil production, Ed Whittingham, executive director of the Pembina Institute, said at the Bloomberg Economic Series Canada summit in Toronto. “The oil sands feeds into concern about the climate,” he said. “The primary driving concern is climate.”
Exxon Mobil Corp. is ramping up lobbying efforts with the U.S. government over Iranian sanctions that have locked out American oil companies from the Middle Eastern nation for more than three decades.
Exxon Mobil, the world’s largest publicly traded crude producer by market value, hired the lobbying firm founded by former Senator Don Nickles—an Oklahoma Republican—to work on Iranian sanctions, according to federal disclosure documents. This is the first time since 2010 that the Irving, Texas-based oil company enlisted outside lobbyists to discuss Iran.
Halliburton has reached an agreement with BP Exploration & Production Inc. to resolve remaining issues, which includes indemnities between the parties and dismissal of all claims against each other, relating to the April 20, 2010, Deepwater Horizon well incident in the Gulf of Mexico.
NCS Multistage, LLC, has created a Corporate Technology Group that will focus on new technology R&D, including identifying and commercializing complementary technologies and services that will enable its customers to improve efficiency and maximize hydrocarbon recovery.
The new group combines NCS’ Emerging Technology, Engineering and Corporate Technical Services teams with Anderson/Thompson Reservoir Strategies, NCS’ newly formed reservoir engineering and consulting business.
Deals among oil services companies trying to survive a collapse in crude prices are expected to pick up in the second half of the year as profits hit a low point.
As much as 141 Bbbl of potential incremental hydrocarbon resources could be unlocked if drilling and completion techniques refined in U.S. shale plays are applied to conventional, low-productivity oil plays outside of North America, according to new analysis from IHS.
The oil boom isn't dead after all.
A data-driven, neural network model was developed to quickly and economically evaluate completion effectiveness for Marcellus shale wells. This model was used to identify significant opportunity to improve production for new wells by modifying completion and frac design. According to the model, geology and reservoir quality dominate Marcellus production. However, controllable contact and conductivity-related parameters are also significant. The number of frac treatments and the amount of proppant used in the completion rank first and second in significance. This is followed by perforation design, fluid volume and treatment rate.
The first exploratory well has been drilled at Achinsk field (Tomsk Oblast, under development by Gazprom Neft subsidiary Gazpromneft-Vostok), part of a federal project to establish a regional testing ground to identify effective technologies for the development of hard-to-recover (tight) reserves.
RINA Services, a multi-national group based in Genoa, Italy, has announced the acquisition of QIC, Inc. by its U.S. subsidiary.
(Bloomberg) -- California’s rules allowing oil extraction waste to be injected into the ground were challenged by environmental groups saying the practice threatens protected sources of drinking water as the state suffers through a record drought.
Baker Hughes has announced the commercial release of its Vault barrier valve, which provides an ISO-qualified barrier in the wellbore to help protect the lower completion and minimize costly fluid loss during well construction.
HOUSTON -- Weatherford International has announced the commercial release of its SecureView wireline cased-hole evaluation suite.
Halliburton’s Completion Tools business line has introduced the VersaFlex XtremeGrip expandable liner hanger system.
Baker Hughes announced the introduction of its Hammerhead system—the industry’s first fully integrated wellhead-to-reservoir ultradeepwater completion and production system— at OTC 2015 on Monday.
Ithaca Energy Inc. has entered into an agreement to sell its wholly owned subsidiary, Ithaca Petroleum Norge, for an initial consideration of $60 million.
The U. S. Geological Survey (USGS) has released a report that outlines a preliminary set of models to forecast how hazardous ground shaking could be in the areas where sharp increases in seismicity have been recorded.
Think the U.S. is awash in crude now? Thank the fracklog that it’s not worse.
Estimated total U.S. oil and natural gas well completions decreased by 8% in the first quarter of 2015 compared to year-ago levels, according to API's 2015 Quarterly Well Completion Report, First Quarter.
STAVANGER, Norway -- Det norske oljeselskap AS, operator of production licence 001 B, has completed the drilling of appraisal wells 16/1-21 S and 16/1-21 A on Ivar Aasen field, the Norwegian Petroleum Directorate reports.