Drilling ///

Petrogas awards Maersk Drilling three-well contract in the Dutch North Sea

The contract is expected to commence in November 2020 and has an estimated duration of 110 days.

Jim Wright’s win continues Republican control of Texas’ oil regulator

“Texas will determine its own energy future, and that is a future that includes an all of the above approach led by fossil fuels,” Wright said in a statement. “Together we will find new ways to improve our climate and environment.”

Diamondback CEO following a go-it-alone shale strategy

“Diamondback is not getting left behind if we don’t do anything today,” CEO Travis Stice said on the company’s third-quarter earnings call, adding that the company doesn’t need to boost scale to reduce its costs. “We prefer not to make rash decisions at the bottom of the cycle.”

Vote to keep Biden’s hands off of U.S. energy policy

As the U.S. presidential election cycle nears its final chapter on Tuesday, and Tuesday evening, we at World Oil think it’s appropriate to remind our fellow professionals in the U.S. oil and gas industry what is at stake.

Drilling Advances

Jim Redden, Contributing Editor

The blunt truth

Trump signs order on fracking while barnstorming in Pennsylvania

Trump sees full-throated support for fracking as a crucial element in Pennsylvania, where he’s trailing Joe Biden and which would likely clinch the presidency for the Democrat, should he win it.

Climbing rig counts may signal a turnaround, but that's no comfort for Exxon Mobil

Despite increased drilling activity and strong Q3 results across the board for the supermajors, Exxon Mobil spent the week slashing headcount and planning major asset sales to meet its dividend commitments.

Schlumberger introduces StrataBlade concave diamond-element bit

The drill bit with unique concave-shaped cutting elements reduces drilling costs and improves overall drilling performance.

Schlumberger launches definitive dynamic survey-while-drilling service

TruLink service provides high-definition wellbore architecture surveys to enhance end-to-end well construction operations.

Total scores “significant” gas condensate find offshore South Africa

The Luiperd-1X well on Block 11B/12B was drilled to a total depth of about 3,400 meters and encountered 73 meters of gas condensate. Total will now conduct a detailed assessment of the reservoir in conjunction with Qatar Petroleum and its other partners.

Trump issues executive order on fracking

Trump issued an executive order to require an economic analysis of fracking, as the president seeks to use what he portrays as Biden’s mixed messages on energy to capture votes in the swing states of Pennsylvania and Ohio.

Oil prices slip below $39 as Libya ramps up production

Worsening demand outlook is coinciding with Libya’s push to almost double crude output, as it reopened its last major oil field. The nation’s production could top 1 million barrels a day within weeks.

World Oil editorial: Biden is a menace to sound energy policy and industry’s future

For several months now, we have told you our concerns about a potential Joe Biden presidency, as relates to the oil and gas industry’s future.

PESA president rebuts Biden’s energy stance

While it’s true the energy ecosystem is in transition, former Vice President Biden is incorrect that it means replacing one form of energy with another or phasing out oil and gas.

EQT pursues takeover of rival CNX Resources

EQT Corp., the biggest producer of U.S. natural gas, is seeking to acquire rival CNX Resources Corp., according to people familiar with the matter, as M&A accelerates in the distressed shale patch.

Trump leverages Biden’s oil stance as a warning to swing state voters

After the debate, Biden sought to emphasize that the fossil fuel industry wouldn’t “be gone” until 2050, and that oil workers are “not going to lose their jobs.”

Argentina pledges $5.1 billion subsidy for Vaca Muerta shale drillers

Energy Secretary Dario Martinez said spending on subsidies is still better than the alternative of buying LNG cargoes, despite low current prices. “We’ve done the analysis and we really benefit from doing this,” Martinez told reporters in Buenos Aires Wednesday.

Harold Hamm projects $6 gasoline under Joe Biden’s energy regime

Biden’s plans would have uneven impacts within the oil and gas sector, particularly hurting companies with significant investments on federal land. Other producers, such as Pioneer Natural Resources Co. and Hamm’s Continental Resources, which do not have federal oil leases, might see their holdings swell in value.

API fact-checks the presidential debate’s energy positions

The American Petroleum Institute corrected the record on discussions about a fracking ban, implementing a carbon-free power sector by 2035, replacing natural gas and oil jobs with clean energy jobs, and policies to reduce CO2 emissions.

Executive orders would give Biden options to limit oil and gas production

There are several ways Biden could halt fracking on federal lands using executive power. He could ban new oil and gas leases, halt new permits, or seek a specific regulatory ban on fracking, all of which Biden has telegraphed at one point or another on the campaign trail.