Drilling ///
Global LNG boom sends Baker Hughes’ demand soaring beyond expectations
Oil and gas drilling is big business once again, if the leap in demand for services from Baker Hughes Co., the world’s No. 2 oilfield contractor, is any gauge.
Schlumberger places $2 billion bet on strong oilfield service demand growth
Schlumberger is gearing up for growth around the world as the No. 1 oilfield contractor expects recovering economies to ignite several years of crude-demand expansion.
Chesapeake working with Chief Oil & Gas on possible $2.4B deal
Chesapeake Energy Corp. is in advanced talks to acquire privately owned natural gas producer Chief Oil & Gas Inc. for about $2.4 billion including debt, Reuters reported, citing people familiar with the matter.
Shale drillers target Eagle Ford for new exploration opportunities
The Eagle Ford shale in South Texas, long overlooked compared to its larger cousin the Permian basin, saw its biggest one-week jump in drilling activity in more than two years as explorers look for growth beyond the world’s biggest shale patch.
TotalEnergies grants Maersk Drilling one-well extension offshore Suriname
The contract extension for Maersk Valiant has an estimated duration of 100 days, with work expected to commence in March 2022 in direct continuation of the rig’s previously agreed work scope.
EIA expects shale to drive record U.S. oil production in 2023
U.S. annual oil production is set to rise to a record next year as shale producers continue to boost output.
Canadian Overseas Petroleum Ltd announces significant U.S. discovery
Canadian Overseas Petroleum Limited, an international oil and gas exploration, production and development company with operations focused in Wyoming, USA, announced a significant conventional light oil discovery at its Wyoming asset.
Shale drillers delaying emissions cuts from operations, says Federal Reserve
Less than half of oil and natural gas drillers in the U.S. Great Plains and Rocky Mountains plan to curb emissions of carbon dioxide and methane this year, according to the Federal Reserve Bank of Kansas City.
U.S. oil majors’ stock prices return to pre-pandemic levels
A rally in oil prices lifted U.S. energy stocks to the highest since the pandemic emerged more than two years ago.
Pioneer CEO sees oil above $100 as a net negative for shale
Bosses for some of the biggest oil explorers in the Permian Basin say their industry could be hurt if crude climbs above $100 a barrel.
ExxonMobil tallies two new discoveries offshore Guyana
ExxonMobil announced two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana.
European court to decide if Arctic drilling violates human rights
The European Court of Human Rights is asking Norway to respond to charges by activists that allowing new oil and gas drilling in the Arctic during an environmental crisis may breach fundamental freedoms.
FireBird Energy acquires Midland basin assets from Chevron
FireBird Energy has completed an acquisition of operated assets located in the Midland Basin from Chevron U.S.A. Inc. and Chevron Midcontinent, L.P. Leaseholdings included in the transaction total approximately 21,000 acres.
Shale drillers face record cost pressures as banks shun the sector
Oil drillers in the biggest U.S. fields are shouldering record costs at the same time that some banks are increasingly reluctant to loan money to the sector, according to the Federal Reserve Bank of Dallas.
Hunting PLC forms JV with India’s Jindal SAW Limited
The agreement formalizes a closer working partnership between the two businesses, following the formation of a strategic alliance in 2019 when Hunting and Jindal began cooperating to develop their presence in the rapid growth OCTG market in India.
Shell signs gas concession agreement for Block 10 in Oman’s Saih Rawl field
Shell’s entry into this block signifies a further commitment to Oman, while enhancing and diversifying Shell’s gas supply.
Maersk Drilling launches Horizon56 to drive offshore digitalization
Maersk Drilling has spearheaded an effort to develop a first-of-a-kind product to support digitalization of offshore drilling processes. The solution, known as RigFlow, has now been segregated into the digitally focused company named Horizon56 A/S to drive further development and commercialization.
UK says oil and gas projects can comply with new net-zero rules
The UK proposed a series of climate change tests to determine whether new oil and gas fields can be built off its shores, but said its net-zero pledge doesn’t require the industry to be shut down.
ADNOC Drilling and Helmerich & Payne enter framework agreement to enable growth and unlock efficiencies
ADNOC Drilling Company and Helmerich & Payne, Inc. jointly announced the finalization of the Rig Enablement Framework Agreement, streamlining ADNOC Drilling’s operations, reducing costs and building shareholder value.
Equinor taps Cognite to expand data capabilities across its asset portfolio
Cognite announced a collaboration with Equinor to expand data capabilities and support the company’s digital ambitions.
TotalEnergies, Shell place big bets on Brazil’s offshore oil
European supermajors TotalEnergies SE and Royal Dutch Shell Plc will join Brazil’s state-controlled oil giant at two key fields, marking the latest expansion in Latin America’s largest crude producer and an important victory for President Jair Bolsonaro.
