Completions ///
“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.”
“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.”
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 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.
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 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.
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's automated connection integrity system has successfully completed 100 runs and 33,000 tubular connections in operations worldwide.
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.
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.
No one is feeling the pain of an oil collapse more than the shale producers. Except, perhaps, their suppliers.
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 has secured a four-year contract to supply its zonal isolation technologies across a leading operator’s Malaysian assets.
Tendeka has received a Letter of Intent for a multi-million-pound contract to supply sand-face completion equipment to Aker BP’s Norwegian assets.
A complete firing solution using the latest technology in switch design and flexibility, integrated with one of the most advanced and intuitive shooting panel and surface testers on the market.
Eric Bruseth, Mark Shaffer, Packers Plus Energy Services
The evolution of frac plugs has helped producers go to new lengths, while reducing operational time and risk. Case studies, onshore and offshore, confirm that these advancements are saving operators money.
Jim Redden, Contributing Editor
Into the brink
As the U.S. shale boom unfolded, the number of oil wells that were drilled but never opened for production steadily rose. Now, that figure has plunged by a surprising 10% in the newest sign yet of tough times for drillers.
A subsidiary of Rosneft has taken over some contract discussions with local service providers in Venezuela, stepping in for PDVSA on joint projects with the state-owned oil company, according to people familiar with the matter.
The increased capability of the XSTMZ system helps increase production and total recovery by driving down abandonment pressure and can save rig time by isolating and treating several intervals with a single trip.