Drilling ///

Hunting introduces Efficiency Gun

Featuring modular pre-wired, plug-and-play perforating guns, the E-Gun system eliminates all user wire connections and tandem sub maintenance.

Recent deals reveal a buyer’s market for shale operators

Concho Resources Inc., an early explorer of the Permian basin’s once-coveted oil riches that was worth $32 billion just two years ago, is selling for $9.7 billion in stock. ConocoPhillips is paying a meager 15% premium over Concho’s closing price on Oct. 13, the last trading session before Bloomberg News first reported the companies were in talks.

Conoco CEO leads U.S. shale peers with net-zero emissions pledge

“We’re the first U.S. based oil and gas company to take this step,” CEO Ryan Lance said during a conference call intended to discuss the company’s $9.7 billion deal to buy Concho Resources Inc.

Halliburton CEO sees a rebound coming for U.S. shale drilling

“The pace of activity declines in the international markets is slowing, while the North America industry structure continues to improve, and activity is stabilizing,” Halliburton CEO Jeff Miller said in a statement.

Conoco agrees to $9.7 billion Concho Resources purchase

The combination Conoco and Concho will be one of the dominant operators in the Permian Basin of West Texas and New Mexico, rivaling only the likes of Occidental Petroleum Corp. and Chevron Corp. in terms of crude output.

What the drilling rig count's ongoing climb says about the future of crude oil production

While opinions differ on oil demand and production rates, a fourth week of growth in the rig count appears to prove some projections right, while invalidating others.

Halliburton rolls out industry-first intelligent fracturing system

The SmartFleet system connects to the reservoir through subsurface sensing to continuously measure cluster uniformity and fracture geometry. The system applies the measurements to make intelligent adjustments that improve fracture placement.

Oxy CEO says U.S. oil production will never see pre-pandemic levels

America’s oil production will never again reach the record 13 million barrels a day set earlier this year, just before the pandemic devastated global demand, according to Occidental Petroleum Corp.

Trump takes Biden to task over drilling in swing states

Trailing Biden in the polls and looking to drive up support among white, working-class voters that helped deliver him Rust Belt states in 2016, Trump has turned to fracing as a last-ditch measure to make up ground. Biden holds a lead of 7 percentage points in Pennsylvania, according to a RealClearPolitics average of polls.

NTS Group acquires Amega West Services

NTS Group has acquired Amega West Services, a market leader in the manufacture, repair and rental of legacy and specialized drilling equipment used in offshore and land-based oil & gas extraction applications, from Carpenter Technology Corporation.

Oceaneering wins Petrobras BOP tethering services contract

Oceaneering International has been awarded a BOP tethering services contract offshore Brazil from Petrobras. The contract duration is one-year with the option to extend for an additional year.

New Halliburton hybrid drill bit increases stability, drilling efficiency

Halliburton's Crush & Shear technology reimagines the bit by placing roller cones in the bit’s center for efficient crushing of the formation and moves the cutters to the shoulder for maximal rock shearing.

Hunting introduces perforating gun orientation tool

The HSI’s three-axis accelerometer indicates the relative bearing and inclination of the downhole tool string during oriented perforating applications, confirming direction to avoid severing casing strings or cables behind casing.

Mitigating vibration above the drill bit

Chris Gooch, Ulterra Drilling Technologies

An innovative PDC bit technology is improving motor and downhole tool reliability, while setting new performance records.

LWD dual-physics imager for OBM applications enables real-time geological characterization

Vera Wibowo, Chandramani Shrivastava, Schlumberger

A new LWD tool system enables multiple high-resolution borehole images in nonconductive OBM, providing real-time geological characterization and inputs for drilling parameter optimization.

Caterpillar to acquire Weir Oil & Gas in $405 million cash deal

Caterpillar Inc. has signed an agreement to acquire the Oil & Gas Division of the Weir Group PLC, a Scotland-based global engineering business. Headquartered near Fort Worth, Texas, Weir Oil & Gas produces a full line of pumps, flow iron, consumable parts, wellhead and pressure control products.

Transocean’s efforts to avoid bankruptcy could lead to a default

The world’s largest owner of deep-water oil rigs recently engineered a bond swap to trim some of its $9 billion debt load and ease the crunch caused by slumping energy prices. But other creditors say the transaction amounts to a default because it pledges assets that Transocean already promised to them.

Turkey to expand Mediterranean gas hunt with second drillship in 2021

Turkey plans to deploy a second drilling ship in the Black Sea early next year following the biggest-ever natural-gas discovery there.

Despite traders' weak demand outlook, oil and gas drilling activity continues to rise

World Oil editors discuss an emerging disconnect as drilling activity across the board continues to rise, while oil traders are expecting a long road to demand recovery.

Shale producers Devon Energy and WPX merge in all-stock deal

The combination will create one of the biggest independent shale producers in the country, tying together two companies with sizable operations in the hottest part of the prolific Permian Basin, which straddles West Texas and southeastern New Mexico.