Completions
News
January 10, 2015
HOUSTON (Bloomberg) -- U.S. drillers idled rigs seeking oil this week as an expanding glut of supply in the global market pushed crude prices below $50/bbl for the first time in more than five years. Rigs seeking U.S. oil declined by 61 to 1,421, Baker Hughes Inc. said on its website. It was the largest drop in rigs since February 1991. Those drilling for natural gas rose by one to 329, and miscellaneous rigs dropped by one to zero. The total fell 61 to 1,750.
News
January 09, 2015
HOUSTON -- Baker Hughes has announced that the U.S. onshore well count for the fourth quarter of 2014 was 9,544 wells, relatively unchanged compared to the third quarter of 2014. Compared to the fourth quarter 2013, the well count was up 461 wells or 5%.
News
January 09, 2015
WEST PERTH, Australia -- Otto Energy has announced that PNOC Exploration Company (PNOC-EC) has expressed an interest in farming into SC55 for a 15% working interest.
News
January 08, 2015
NORFOLK, United States -- Claxton, an Acteon company, has installed more than 5,000 conductor guide centralizers, making the company the market leader for conductor centralizer installation in the North Sea.
News
January 08, 2015
HOUSTON -- Halcon Resources Corp. has announced further reductions to its 2015 drilling and completion budget. In November, the company announced a budget of $750 to $800 million and said that it intended to operate six rigs in 2015, five less than originally planned. However, Halcon has now announced a revised drilling and completions budget of $375 to $425 million and cut even more rigs.
News
January 08, 2015
HOUSTON (Bloomberg) -- U.S. oil producers are bailing out of long-term contracts for drilling rigs as crude prices sink below $50, another signal that the nation’s shale boom is slowing. Yesterday, Helmerich & Payne Inc., the biggest rig operator in the U.S., said it had received early termination notices for four contracts. Today, a second contract driller, Pioneer Energy Services Corp., said four rigs had been canceled early. Producers may cut short another 50 to 60 agreements, according to Bloomberg Intelligence analyst Andrew Cosgrove.
News
January 08, 2015
DENVER, Colorado (Bloomberg) -- U.S. states are renewing efforts to pass taxes on oil and gas extraction and, while falling energy prices may please consumers, drillers say it’s just the wrong time to raise their costs. At least 17 states last year considered imposing or amending so-called severance taxes, which generated more than $16 billion in 2013 in the U.S. Many are expected to introduce similar bills this year, according to the National Conference of State Legislatures in Denver.
News
January 07, 2015
HOUSTON -- AccessESP has installed the first rigless ESP conveyance system in Nigeria in the Ukpokiti #4 offshore well for Shebah Exploration and Production Company Limited (SEPCOL).
News
January 07, 2015
LONDON -- Wood Group Intetech (WG Intetech) has successfully completed a six-month project for MOL Group, headquartered in Budapest, Hungary. The project saw WG Intetech develop a detailed design for an acid gas reinjection well on MOL Group’s Akri-Bijeel field in Iraq. The scope of the agreement included well design and comprehensive materials selection for all well components.
News
January 06, 2015
HOUSTON (Bloomberg) -- Transocean Ltd., the worst performer in the Standard & Poor’s 500 Index last year, may see its $9.1 billion debt lowered to junk status as the owner of the world’s largest fleet of offshore rigs contends with a “prolonged” downturn in the industry, Moody’s Investors Service said.
News
January 06, 2015
GAUTENG, South Africa -- SacOil Holdings, through its subsidiary Mena International Petroleum (Mena) has announced the commencement of field development operations at its 100% owned Lagia oil field in Sinai, onshore Egypt.
News
January 06, 2015
SAN RAMON, California -- Chevron has announced a significant oil discovery at the Anchor prospect in the deepwater U.S. Gulf of Mexico. Anchor is Chevron's second discovery in the deepwater Gulf in less than a year.
News
January 06, 2015
OSLO, Norway -- AGR has been awarded a well management services contract with Edison Norge. AGR will support Edison across its operating licenses, including its first exploration well on the Norwegian Continental Shelf (NCS). AGR will deliver services relating to well construction, operational support, project management and rig intake services on the Edison-operated PL616, Haribo exploration well.
News
January 06, 2015
MIDLAND, Texas -- Concho Resources has announced an updated 2015 capital program of $2.0 billion, as a result of the sharp decline in commodity prices. With this level of activity, the company expects to generate 16% to 20% year-over-year production growth in 2015.
News
January 06, 2015
RIO DE JANEIRO -- Petrobras has completed drilling extension well 3-ESS-219D, informally known as Pudim, at a water depth of 1,886 m, in the Espírito Santo basin post-salt. The completion of this well, which had been announced to the market on Oct. 7, confirmed the presence of excellent quality oil through log data analysis, fluid samples and a cable test conducted in reservoirs located at a depth of some 4,300 m. Drilling ended at a depth of 4,670 m.
News
January 06, 2015
HOUSTON (Bloomberg) -- U.S. oil drillers laid down the most rigs in the fourth quarter since 2009. And things are about to get much worse. The rig count fell by 93 in the three months through Dec. 26, and lost another 17 last week, Baker Hughes Inc. data show. About 200 more will be idled over the next quarter as U.S. oil explorers make good on their promises to curb spending, according to Moody’s Corp.
News
January 06, 2015
SYDNEY, Australia -- Otto Energy has announced that the JV has successfully completed a 430 km 2D seismic program over the Kilombero basin in central Tanzania. Otto Energy Tanzania Pty Ltd, a wholly owned subsidiary of Otto, has a 50% participating interest in the Kilosa Kilombero license.
News
January 06, 2015
HOUSTON -- McDermott International has been awarded a contract to install the offshore jacket, deck and piles for the Ayatsil-A drilling platform for PEMEX in the Bay of Campeche Ayatsil field. The value of the award is included in McDermott’s fourth quarter backlog.
News
January 05, 2015
BEIJING, China -- By the end of 2014, Changqing Oilfield produced 25.04 million tons of crude and 38.15 Bcm of natural gas, totaling 55.45 million tons of oil equivalent, a net increase of 3.5 million tons of oil equivalent over the last year.
News
January 05, 2015
SALISBURY, England -- Rockhopper Exploration, the oil and gas exploration and production company with interests in the North Falkland Basin and the Greater Mediterranean region, has been awarded a 40% interest in offshore block 9 in Croatia in partnership with Eni (60% interest and operator).
News
January 02, 2015
OSLO, Norway -- DNO and Entreprise Tunisienne d'Activités Pétrolière, holder of the Sfax offshore exploration permit in the Republic of Tunisia, have completed drilling of the Jawhara-3 well on the permit.
