Drilling ///

Exxon and its partners log new discovery at Longtail-3 offshore Guyana

“Longtail-3, combined with our recent discovery at Uaru-2, has the potential to increase our resource estimate within the Stabroek block, demonstrating further growth of this world-class resource and our high-potential development opportunities offshore Guyana,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil.

Hunting introduces dual mode firing head

Utilized as either a bar-drop or a hydraulic firing head, this latest addition is an economical solution to maintaining two different firing head inventories, while allowing the operational flexibility to run either type of toolstring.

KKR’s Independence Energy, Contango Oil & Gas aim for $5.5B all-stock merger

KKR and Contango are doubling down on investing in exploration and production companies as many in the sector seek to recover from years of poor returns amid the shale boom and bust. The combination is said to allow the merged company to reach greater scale, boost access to capital and drive down the cost of production.

Colorado shale deal leaves CPP Investment Board as largest investor in Civitas

Bonanza Creek Energy Inc. and Extraction Oil & Gas Inc. -- which announced a merger last month and a plan to rename the combined entity Civitas Resources Inc. -- said Monday they’re buying closely held Crestone Peak Resources LLC. Crestone investors will get 22.5 million shares of Bonanza, according to a statement. All three companies operate in the Denver-Julesburg Basin.

Sponsored Content: One size does not fit all

In a fast-paced, cost-conscious oil and gas industry, OEM groups seek standardization and efficiencies through commodity manufactured valves. These products provide the availability and utility demanded by end users to adequately support operational needs. One variable difficult to fit into this “commodity mindset” is the choke valve.

Transocean strikes new delivery terms for two 20,000 psi-capable deepwater drillships

The Deepwater Atlas and Deepwater Titan are the world’s first eighth generation ultra-deepwater drillships, and the only rigs to feature a 3,000,000 pound hook-load. These drillships will include the offshore industry's first 20,000 psi well control systems.

Rising steel costs bring inflation woes to U.S. shale plays

Costs for everything from labor to diesel to steel have climbed in the oil field this year as explorers return to work following last year’s pandemic-driven crash in crude prices. Steel prices for the drill pipe used in new wells could rise about 50% in 2021, Citigroup said.

Turkey announces significant new Black Sea natural gas discovery

Turkish President Recep Tayyip Erdogan announced that state energy company Tpao has found 135 billion cubic meters of gas at the Amasra-1 offshore well, bringing the total amount of deposits discovered in the Black Sea over the past year to 540 billion cubic meters.

Maersk Drilling lands two development well contract in Brazil’s Patola field

Karoon Energy Ltd has exercised an option to add the drilling of two development wells at the Patola field offshore Brazil to the work scope of the semi-submersible rig Mærsk Developer. The work is expected to commence in the second half of 2022.

Biden blocks Trump’s last-minute Arctic Refuge drilling permits

Under an Interior Department order issued Tuesday, the agency is temporarily halting action on nine leases spanning more than 400,000 acres (161,870 hectares) of the Arctic National Wildlife Refuge, while it conducts a fresh environmental analysis of the program.

Maersk Drilling to sell Maersk Inspirer for $373 million

Maersk Drilling has entered into an agreement to divest the combined drilling and production unit Mærsk Inspirer to Havila Sirius for a price of $373 million.

Biden defends Conoco’s Arctic drilling plan originally approved by Trump

The Justice Department is defending the Trump administration’s approval of a massive ConocoPhillips Alaska Inc. project in federal court, over the objections of environmentalists who say the government didn’t adequately consider the venture’s effect on polar bears and the climate.

Drilling advances

Jim Redden, Contributing Editor

Just talk among yourselves

Guyana-Suriname basin: Rise from obscurity to super potential

Thomas Cool, Lumay Viloria, Endeavor Management

The challenge now facing operators in this promising region is to transition from an exploration/appraisal mode to best practices for development and production.

Best practices for successful completion system installation and stimulation in shallow wells

Joel Conrad, Mathew Paredes, Packers Plus Energy Services

A robust set of best practices ensures that each system reaches the planned TD. These best practices are particularly important in shallow wells to maintain safe, efficient operations.

Cabot-Cimarex merger puzzles both analysts and investors

The merger of Cabot Oil & Gas Corp. with Cimarex Energy Co. announced Monday has confounded investors and analysts, leaving them to question the logic behind a tie-up that the companies say will increase diversification. Cimarex is mostly an oil explorer in Texas and Oklahoma, while Cabot is focused on natural gas drilling in the Marcellus shale basin in Appalachia.

Texas oil regulator takes firm positions against Washington in defense of oil and gas

“The so-called CLEAN Future Act is nothing more than the Green New Deal in lipstick,” said Texas Railroad Commissioner Wayne Christian. “This legislation would effectively federalize regulation of oil and gas, increasing costs to consumers and our national debt, while harming our energy independence and national security.”

NOV launches sour service drill pipe grades to ensure pipe integrity in challenging formations

NOV’s Grant Prideco business unit recently launched a line of drill pipe grades to help mitigate sour service failures related to sulfide stress cracking in complex wells and acid gas-bearing formations.

Maersk sells two jackup rigs in $31M all-cash deals

“These transactions will contribute to the necessary rationalization of the global drilling rig fleet and they are further in line with Maersk Drilling’s strategic priority of maintaining a fleet of modern, high-quality assets," said CEO Jørn Madsen of Maersk Drilling.

Iran to award $1.8 billion gas field contract to local company

Iran’s Petropars Ltd. will be awarded a $1.78 billion contract by the National Iranian Oil Co. to develop the giant Farzad-B gas field that was previously intended to be tapped by a group of Indian companies.