Drilling ///

Maersk Drilling secures one-well UK contract for Maersk Resolve

Maersk Drilling has been awarded a contract from Spirit Energy for the harsh-environment jack-up rig Maersk Resolve to drill one development well at Grove North East in the UK North Sea.

Stena Drilling awards IDS fleet-wide rig reporting and performance analytics contract

Following successful six-month operational trials on Stena Spey and Stena Carron rigs, IDS will deploy its data driven TourNet Pro drilling contractor reporting service and drilling performance monitoring service, Anova DPM, across Stena Drilling’s fleet in Q1 2021.

U.S. projects higher oil output in 2022 from rebounding shale

The U.S. Energy Information Administration said that recent crude price increases and rig additions will help production in the Lower 48 states begin to rise in the second quarter of this year, with total output nearing 11.5 MMbpd in 2022.

Coretrax saves 14 days rig time offshore Norway with expandable drilling liner

The expandable drilling liner enabled the operator to kick-off much deeper in the well, eliminating the need to drill a section of the wellbore and install a tie back. The system was fully expanded within six hours and the entire project was completed in less than 40 hours.

Paradigm Drilling Services and Toolserv form strategic alliance

The agreement will see Toolserv AS exclusively managing supply, sales and rental of Paradigm Drilling products and services in the country with the outlook to expand to other countries as business and demand grows.

Beyond automation: Driving advances in autonomous drilling

Francis Besnard, Alexandre Jourde, Schlumberger

Well construction can benefit from available intelligent technologies, taking AI capabilities close to the action, where it encodes knowledge and captures learnings to improve drilling efficiency.

Industry’s first truly integrated MPD control system advances offshore drilling efficiency

Leonardo Correa, National Oilwell Varco; Robert Van Kuilenburg, Noble Corporation

A partnership between a drilling contractor and an OFS provider is taking MPD systems, which are fully owned and operated by the drilling contractor, to the next level with unique, integrated capabilities.

Devon Energy joins shale producers pledging restraint as oil rallies

“I have a hard time seeing the need for U.S. producers over the next several years to get back to double-digit growth,” Devon Energy CEO Rick Muncrief said in an interview. “For this management team, if we really think about 2021, let’s keep it flat.”

Pioneer’s CEO sees shale output flat for the foreseeable future

“I really don’t see much increase in the Permian basin or the U.S. shale over the next several years,” said Scott Sheffield, chief executive officer of Pioneer Natural Resources Co.

Bid review begins in rare auction of Alaskan Arctic drilling rights

The Bureau of Land Management was set to begin opening sealed bids for 10-year leases in the Arctic National Wildlife Refuge’s coastal plain Wednesday afternoon, less than a day after a federal judge rejected environmental groups’ pleas to halt the auction.

High debt, low margins choke shale’s growth despite climbing oil prices

Market conditions that might have triggered U.S. oil explorers to raise output and grab market share in recent years are, this time around, more an opportunity for them to pay down debt or boost dividends.

Court allows Trump’s Arctic refuge drilling auction to proceed

The decision is a victory for the administration, which has been racing to issue oil leases in the refuge’s coastal plain before the Jan. 20 inauguration of President-elect Joe Biden.

Texas, New Mexico to offer 100+ oil and gas leases in online auctions

The BLM New Mexico State Office will be offering 37 parcels covering 6,850.72 acres, while , the Texas General Land Office will offer 66 tracts covering 22,500.607 net mineral acres in 16 different counties in January.

Egypt taps Exxon, Chevron for billion-dollar offshore exploration program

This deal, plus more to be announced, target drilling 23 wells in nine regions in the Mediterranean and three regions in the Red Sea, with a minimum total investment seen at $1.4 billion.

U.S. drilling rig count ends a whipsaw year at pre-shale-era levels

The number of rigs drilling for oil in the U.S. closed out 2020 at 267, according to Baker Hughes Co. data released December 30th. It’s the lowest end-of-year figure since 2005, when drilling and fracking breakthroughs perfected in natural gas regions like North Texas’s Barnett shale were just beginning to be deployed.

Russia ready to open the OPEC+ taps as the U.S. dials back its Arctic drilling plans

World Oil editors discuss The North Face doubling down on its principled stand against well-paying American jobs, Russia wants to see OPEC+ production rise in February, and U.S. land regulators shrink Alaskan oil lease acreage.

Greenpeace can’t stop Arctic drilling, says Norway’s supreme court

The Nordic government beat back a lawsuit by environmental groups in the country’s Supreme Court, which ruled on Tuesday the authorities had acted lawfully by awarding exploration licenses in the Barents Sea to companies including Equinor ASA, Aker BP ASA and Lundin Petroleum AB.

In the Biden/Harris Presidency, any fracing ban is least of the industry’s worries

David Blackmon, Contributing Editor

While the various and constantly evolving Biden/Harris promises to ban hydraulic fracturing—at one level or another—dominated the narrative during the general election campaign, the approach they will choose to take on a range of oil and gas issues, now that they are in a position of power, will come into sharp relief.

Diamondback buys Guidon Operating LLC for $862 million

Diamondback said it agreed to purchase closely held Guidon Operating LLC. That cash-and-stock deal values Guidon, which was co-founded in 2016 by funds managed with Blackstone Group, at about $862 million.

Diamondback to buy QEP Resources in $2.2 billion all-stock deal

Diamondback Energy and QEP Resources have entered into a definitive agreement under which Diamondback will acquire QEP in an all-stock transaction valued at approximately $2.2 billion, including QEP’s net debt of $1.6 billion as of September 30, 2020.