Drilling ///

Conoco launches plan to distance itself from shale, win back shareholders

ConocoPhillips announced a 10-year plan to buy back $30 billion of shares, equivalent to about half of its current market capitalization, as the oil producer attempts to distance itself from the troubled U.S. shale industry.

i-Tech 7 extends UWILD track record in North Sea

i-Tech 7, Subsea 7’s Life of Field business unit, has successfully completed an underwater inspection in lieu of dry-docking (UWILD) project for Borr Drilling in the North Sea.

KCA Deutag secures $460m of land drilling contracts in the Middle East, Africa and Europe

Global drilling and engineering contractor KCA Deutag announced that its land drilling operation has won new contracts worth approximately $460m in the Middle East, Africa and Europe.

ADNOC launches program to significantly expand onshore, offshore rig fleets by 2025

"The program is a pivotal enabler of our plans to substantially increase drilling for conventional oil and gas as well as considerably ramp up the number of unconventional wells," said Abdulmunim Saif Al Kindy, ADNOC's upstream executive director.

Maersk Drilling awarded two-well contract for Mærsk Developer offshore Trinidad

The contract, which contains five additional one-well options, has an estimated duration of 171 days and is expected to commence in Q1 2020.

Carbo Ceramics stock dives after ‘going concern’ warning

Carbo Ceramics Inc. plunged 47% after warning investors it may fail as a going concern in part because its largest frac-sand customer halted purchases.

Halliburton releases new imaging technology to identify fracture networks

Halliburton released its PixStar High-Resolution Ultrasonic Imaging Service, a new logging-while-drilling technology that provides real-time images of the borehole to help operators identify fractures, improve wellbore stability and optimize completion design.

Northern Drilling semisub receives industry’s first hybrid powerplant class notation

Northern Drilling's West Mira is an ultra-deepwater semisubmersible designed by Moss Maritime, operating a hybrid power plant using Lithium-ion batteries as spinning reserve in dynamic positioning (DP) operations and to supply power during peak load times.

Gator Technologies expands Midland and Broussard operations

The new facilities will provide purpose-built space to support Gator’s bottom hole assembly tool rental, repair and manufacturing capabilities.

Sparrows doubles UAE operations after securing £55m in contracts

Sparrows Group has doubled the size of its operations in the UAE after securing contracts worth in excess of £55 million in the past three months. The awards have resulted in more than 150 new positions being created in the region.

Oxy to cut Permian spending as Anadarko purchase dents earnings

Oxy pledged to slash spending by 40% next year after quarterly profit fell short of forecasts due in part to the oil explorer’s $37 billion takeover of Anadarko.

Paradigm Group expanding Middle East, Mexico teams to meet service demand

Paradigm Drilling Services has recently expanded their teams in the Middle East and Mexico to service increasing drilling equipment demand.

Oxy CEO to face investor scrutiny on Anadarko merger plan

Vicki Hollub is set to face investors for the first time since leading Occidental Petroleum Corp.’s controversial $37 billion purchase of Anadarko Petroleum.

Exxon, Chevron begin pushing back against Warren’s fracing ban

Exxon Mobil and Chevron executives spoke out publicly against the proposals for the first time on Friday, saying they would shift profits from production from the U.S. to other countries, increasing prices for consumers while doing nothing to reduce oil demand or greenhouse-gas emissions.

UK bans fracing on concern about earthquakes

The move, just weeks ahead of a general election, effectively bans new wells using hydraulic fracturing technology.

Talk of a frac ban has one driller tapping federal lands in advance

Independent shale producer Concho Resources Inc. said it’s tapping federal acreage for drilling now in case the U.S. elects a president who favors a fracing ban.

Churchill logs four successful drillsting severs in UAE with pre-placed tool

Churchill Drilling Tools announced four successful drill-string severs using its HyPR HoleSaver, following stuck pipe events across the Middle East, including two in the UAE.

Dolphin Drilling enters multi-year strategic alliance with i3 Energy

Dolphin Drilling has announced a two-month contract extension with i3 Energy for use of the Borgland Dolphin semi-submersible drilling rig and agreed to enter into a four-year strategic operations agreement between both companies.

Regional report: MENA

Ron Bitto, Contributing Editor

Leading producers plan to increase output, replace reserves

American natural gas and oil continues as major revenue generator for education and conservation funding

“Responsible natural gas and oil development continues to bring incredible economic and conservation benefits to communities across the nation,” said API manager of upstream and industry operations Stephanie Meadows.