Drilling ///

Wall Street’s fading oil and gas interest revealed in new shale IPO

If the first initial public offering of a U.S. shale driller in four years is any indication, Wall Street is still souring on the U.S. oil and gas patch.

Deb Haaland narrowly confirmed as U.S. Secretary of the Interior

The Senate’s 51-40 vote underscored deep opposition from Republicans who worry Haaland’s criticism of fossil fuels means she will discourage oil development across hundreds of millions of acres of federal land under the Interior Department’s control.

Shale’s fiscal discipline means missing out on rising oil prices

More focused than ever on keeping spending in check, shale operators haven’t been drilling new wells fast enough to keep up with output declines in older ones. So, next month, their combined production will edge lower by 47,000 barrels a day to about 7.46 million, according to the U.S. Energy Information Administration.

Solid-state GWD system provides step-change in wellbore placement accuracy, collision risk mitigation

Fraser Cowie, Steve Thompson, Greg Belbin, Stephen Forrester, Gyrodata

A first-of-its-kind innovation in wellbore surveying—a true solid-state GWD system—is achieving optimized reservoir placement and wellbore collision risk mitigation in several regions globally.

Addressing the re-entry problem of barefoot multi-laterals on coiled tubing

Adam Miszewski, AnTech Ltd.

By utilizing major components from a DCTD BHA, a lateral can be re-entered on the first attempt, and a full downhole measurement suite can confirm entry and help improve operational efficiency, once in the chosen lateral.

U.S. shale prioritizing debt over drilling, just as OPEC predicted

A round-up of data on shale drillers shows they’re sticking to their pledge to cut costs, return money to shareholders and reduce debt. If they stay the course, it would validate the OPEC+ alliance’s high-stakes wager that it can curb output and drive crude prices higher without unleashing an onslaught of supply from U.S. rivals.

Oilfield service providers Expro Group and Frank’s International combine in all-stock deal

"This transaction unites two established industry players to create a leading service provider with an extensive portfolio of capabilities across the well lifecycle," said Mike Jardon, Chief Executive Officer of Expro.

Biden’s pick for Interior delayed over oil and gas opposition

The move by senators Steve Daines of Montana and Cynthia Lummis of Wyoming underscores deep opposition from many Senate Republicans over the Biden administration’s plans for managing the nation’s federal lands and waters.

Hunting introduces industry’s first addressable power charge

PowerSet Recon completes the first and only fully addressable plug-and-perf tool string. This advanced technology allows the user to read the Powerset Recon resistance at any time, assuring all components are in place and in working order when running in hole.

Oilfield workforce shrinks in 2021, giving up all last year’s gains

The companies that frac wells and make the equipment necessary to produce oil cut an estimated 12,321 jobs over a three-month stretch ending in February, according to an analysis of labor market data by the industry-funded Energy Workforce & Technology Council.

Baker Hughes and Akastor ASA form global offshore drilling joint venture

Baker Hughes and Akastor ASA have announced an agreement to create a joint venture company that will bring together Baker Hughes’ Subsea Drilling Systems business with Akastor’s wholly owned subsidiary, MHWirth AS.

Regional Report: Brazil

Mike Slaton, Contributing Editor

Despite a Covid-19 hit that sidelined many field operations, Brazil’s 2020 mid-year figures appeared to put production on track for another yearly gain dominated by the pre-salt.

Special Focus: 2021 Forecast & Review – International Drilling & Production

Cameron Wallace, Digital Editor; Kurt Abraham, World Oil

Following a tumultuous 2020, global drilling rates outside the U.S. are a bit of a mixed bag for 2021. Lingering economic effects from shutdowns and travel restrictions are impeding recovery in regions like Africa and Eastern Europe, while Western Europe and South America are finding their stride.

Neptune Energy commences Dugong appraisal drilling in the North Sea

The Neptune-operated Dugong discovery, in Production License 882, was one of the largest discoveries on the Norwegian Continental Shelf in 2020. Neptune estimates recoverable resources to be between 40 - 120 million barrels of oil equivalent (boe).

Privately-held shale drillers poised to create headaches for OPEC

While oil majors and publicly-traded counterparts are mostly sticking to the mantra of drilling discipline, private operators’ ambitious growth plans present the OPEC cartel with a wild card as prices rebound and it attempts to boost its own oil production.

Oil majors’ green energy pivot hammers Africa’s largest economies

The situation could worsen as Big Oil makes another round of deep spending cuts, leaving consequences both for the oil market, which needs more supply from the OPEC cartel in the coming years, and the economic stability of a region that’s dependent on petroleum revenue.

Native Alaskan landowners demand reconciliation for U.S. government’s ANWR statements

Kaktovik Iñupiat Corporation strongly disputed the U.S. Fish and Wildlife Service announcement that it failed with respect to its permit application to conduct seismic studies in the Arctic National Wildlife Refuge, the company said in a statement.

Biden’s Interior nominee on fossil fuels: “the Earth is here to provide for us”

Deb Haaland’s assurances during her nomination hearing appeared to provide little comfort to Senate Republicans, who argued that the Democratic lawmaker’s criticism of fracing, support for pipeline protesters and endorsement of the Green New Deal make her unfit for a job that includes overseeing energy development on federal land.

Gardner Denver announces the new GD 2500Q HDF to extend pump service life

Gardner Denver High Pressure Solutions announced the new GD 2500Q Heavy Duty Frame quintuplex pump, designed to extend pump service life through an optimized power end frame design.

Premier Oil to rejoin UK offshore just in time for oil price surge

With the takeover by Chrysaor expected to complete by the end of March, Premier Oil will start trading under its new name, Harbour Energy Plc, on April 1. Putting behind it a multibillion-dollar debt pile, the firm should be well-positioned to ride the recovery in oil demand and boost investor returns.