Drilling ///
US tight oil operators have for several months been depleting their inventory of drilled but uncompleted wells (DUCs) and, amid a slower drilling response, the number of ‘live’ DUCs in the country’s major oil regions slumped to 2,381 wells in June 2021, the lowest level since 2013, a Rystad Energy analysis reveals.
“One of the negatives of this quarter has been some horrible hedging; guys locked in at $42 a barrel,” Paul Sankey, the veteran oil-industry analyst and founder of Sankey Research LLC.
New Mexico’s oil production surged to a record in May highlighting the Permian basin’s role as the shale industry sees some recovery from the pandemic.
APA Corporation announced drilling success and updated the status of its appraisal program offshore Suriname in Block 58. The primary objective of the first phase of the appraisal drilling program is to deliver a fast-track, black oil development.
Six weeks after a federal judge ordered the Biden administration to resume selling oil and gas leases on federal land, there’s no sign it has, and Interior Secretary Deb Haaland struggled Tuesday to explain why.
ExxonMobil reported a significant discovery at Whiptail in the Stabroek Block offshore Guyana. The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high quality, oil-bearing sandstone reservoirs.
Proserv Controls has secured a significant contract to manufacture and deliver 22 wellhead control panels to the Basra Oil Company for use on the Majnoon Oil Field in southern Iraq.
Thomas Renner, igus
A plastic e-loop cable carrier, made from polymer components and non-metallic rope, is replacing problematic service loops to reduce NPT and increase cable life.
Eirik Larsen, Earth Science Analytics
A collaborative cloud environment brings new insights to old concepts, captures expertise, and increases agility of data interpretation. The process can identify missed pay opportunities and trigger new exploration activity in mature areas.
Ben Linke, Baker Hughes
Permian basin oil and gas companies are taking action and driving change—adopting technologies that not only reduce fuel and operational costs, but that also help reduce emissions and protect the planet.
Shale drilling in North America is going to slow down in the second half of the year from its breakneck pace as explorers cling to promises of austerity, according to Baker Hughes.
Halliburton and Nabors Drilling are working to connect digital well planning from Well Construction 4.0 with onsite execution using the Nabors’ SmartRig system, helping customers increase efficiencies, access well elements and real-time information.
“The positive activity momentum we see in North America and international markets today, combined with our expectations for future customer demand, gives us conviction for an unfolding multi-year upcycle,” CEO Jeff Miller said.
The American-made pump, built with quality and efficiency in mind, features a flow rate of more than 1000 gpm, making it suitable for demanding HDD projects.
The Biden administration is preparing to release a blueprint for limiting sales of U.S. drilling rights as rising oil and gasoline prices highlight the risks of curtailing domestic crude production.
Favorable hedge positions represent the biggest test yet of shale’s newfound resolve to act with discipline and focus on investor returns, and avoid a return to the relentless pursuit of growth.
Reveal Energy Services has entered into a technology licensing and development agreement to commercialize ConocoPhillips’ patented poroelastic response measurement [PRM] technology, and the companies will perform joint research and development in the PRM technology space.
Patterson-UTI Energy Inc. has entered into an agreement to acquire Pioneer Energy Services Corp. for approximately $295 million, which includes the retirement of all Pioneer Energy Services’ debt.
Equinor and the partners Petoro, Vår Energi and Total E&P Norge have decided to develop the Lavrans discovery and the Kristin Q-discovery which is a part of the Kristin field. Capital expenditures for this first phase will total about NOK 6.5 billion.
Highwood Equipment Technologies Inc. is transporting two of the world’s most advanced automated well service rigs to the Sultanate of Oman.