Drilling ///
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.
The Government of Newfoundland and Labrador announced the establishment of a new offshore exploration initiative to provide companies with the incentive to drill more wells in the best prospects.
Under the MoU, the companies will cooperate globally to focus on revolutionizing well integrity during the construction phase by bringing to market the first ever integration of Managed Pressure Drilling (MPD) solutions and Automated Well Control technology.
After all the trauma the U.S. oil industry has been through this year -- from production cuts to mass layoffs and a string of bankruptcies -- many producers say they’re still prioritizing output over reducing debt.
For the fourth straight year the Railroad Commission of Texas has exceeded its performance target of plugging abandoned oil and gas wells throughout the state. With the fiscal year ending on Aug. 31, the agency plugged 1,477 orphan wells in Fiscal Year 2020, which exceeded the target of 1,400 set by the Legislature.
BP has boldly claimed that global oil demand will peak in the next ten years in its 2020 Energy Outlook. Some emerging trends in the upcoming World Oil 2020 Drilling Forecast reveal how future production capacity may make that possible.
Maersk Drilling has set an ambitious target of lowering the intensity of CO2 emissions from its drilling operations by 50% by 2030. The target is supported by Maersk Drilling’s strategic focus on efficiency gains, which also leads to reduced CO2 emissions.
The Interior Department is proposing rules to strengthen the issuance criteria after companies have filed for Chapter 11 and escaped financial obligations to cap their non-producing wells, said Walter Cruickshank, acting director of the department’s Bureau of Ocean Energy Management.
Tenaris has become the first Ecopetrol supplier to implement a full digital integration project, merging the information systems of both companies to enhance supply operations and improve efficiency.
In a local Philadelphia TV interview, Democratic nominee Joe Biden told reporters “I will not ban fracing.” He failed to mention that his climate plan’s ban on drilling on federal property would go much further than a simple frac ban.
In this week's podcast, World Oil editors discuss how legislative activities, a smaller labor pool, and harsh economic realities are impacting options for oil and gas sector growth in North America's post-coronavirus economy.
Wyoming, which accounts for 38 percent of federal onshore natural gas production and 16 percent of oil production, is projected to be among the states hardest hit, standing to lose more than 33,000 jobs and putting $640 million in state federal revenue sharing at risk.
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.
Activist investor Elliott Management Corp. plans to push for Noble Energy Inc. to abandon its plans to sell itself to Chevron Corp., arguing the deal undervalues the oil and gas producer, according to people familiar with the matter.
President Donald Trump endorsed an extended ban on offshore oil development on Florida’s western coast as he courts voters worried that drilling imperils the state’s beaches and tourism-based economy.
Hess Corporation announced another oil discovery offshore Guyana at the Redtail-1 well, the 18th discovery on the Stabroek Block, which will add to the previously announced gross discovered recoverable resource estimate for the block of more than 8 billion barrels of oil equivalent.
In four gas wells that were drilled at Martin Linge before Equinor took ownership in 2018, well barrier deficiencies that are considered to make them inappropriate for safe production have been identified.
Investors managing more than $2 trillion are calling on Texas regulators to ban the routine burning of natural gas from shale fields, arguing that the energy industry hasn’t moved quickly enough to curb the controversial practice.
The way drilling crews speak on rigs could soon be standardized across the globe to improve safety and maximize efficiencies thanks to ground-breaking research by the University of Oklahoma using Drilling Systems’ simulators.
Between Halliburton and Liberty Oilfield Services, hydraulic fracturing's two major players have fundamentally different field capabilities and technology ambitions. World Oil editors discuss how the differing strategies these two companies offer will change how operators will approach future shale project developments.