Drilling
News
October 23, 2020
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.
News
October 22, 2020
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.
News
October 21, 2020
Varel International Energy Services, a long-standing provider of drilling and downhole solutions, announced their settled litigation with Taurex Drill Bits, including claims of intellectual property infringement for specific drill bit technology.
News
October 21, 2020
“There’s only going to be three or four independents that are investable by shareholders” after the recent market rout, Pioneer CEO Scott Sheffield said on a conference call with analysts. “The best companies have been picked off the past few weeks.”
News
October 21, 2020
The explorer has been waiting since 2017 to close its divestment in the Lake Albert Development Project, an effort repeatedly stymied by tax disagreements.
News
October 20, 2020
Concho Resources Inc., an early explorer of the Permian basin’s once-coveted oil riches that was worth $32 billion just two years ago, is selling for $9.7 billion in stock. ConocoPhillips is paying a meager 15% premium over Concho’s closing price on Oct. 13, the last trading session before Bloomberg News first reported the companies were in talks.
News
October 19, 2020
“We’re the first U.S. based oil and gas company to take this step,” CEO Ryan Lance said during a conference call intended to discuss the company’s $9.7 billion deal to buy Concho Resources Inc.
News
October 19, 2020
“The pace of activity declines in the international markets is slowing, while the North America industry structure continues to improve, and activity is stabilizing,” Halliburton CEO Jeff Miller said in a statement.
News
October 19, 2020
The combination Conoco and Concho will be one of the dominant operators in the Permian Basin of West Texas and New Mexico, rivaling only the likes of Occidental Petroleum Corp. and Chevron Corp. in terms of crude output.
News
October 16, 2020
While opinions differ on oil demand and production rates, a fourth week of growth in the rig count appears to prove some projections right, while invalidating others.
News
October 16, 2020
The SmartFleet system connects to the reservoir through subsurface sensing to continuously measure cluster uniformity and fracture geometry. The system applies the measurements to make intelligent adjustments that improve fracture placement.
News
October 15, 2020
Weatherford International’s Shallow Angle QuickCut System successfully achieved the industry's first 12 ¼-in. casing sidetrack, delivering a 22-ft. window in a single trip for an ultra-deepwater well in the Gulf of Mexico.
News
October 15, 2020
The nation’s producers, which have reduced oil drilling by as much as one-third so far this year, may cut it by a further 20% in 2021, said Vitaly Dokunikhin, CEO at Eriell Russia.
News
October 14, 2020
America’s oil production will never again reach the record 13 million barrels a day set earlier this year, just before the pandemic devastated global demand, according to Occidental Petroleum Corp.
News
October 14, 2020
Trailing Biden in the polls and looking to drive up support among white, working-class voters that helped deliver him Rust Belt states in 2016, Trump has turned to fracing as a last-ditch measure to make up ground. Biden holds a lead of 7 percentage points in Pennsylvania, according to a RealClearPolitics average of polls.
News
October 13, 2020
NTS Group has acquired Amega West Services, a market leader in the manufacture, repair and rental of legacy and specialized drilling equipment used in offshore and land-based oil & gas extraction applications, from Carpenter Technology Corporation.
News
October 13, 2020
Oceaneering International has been awarded a BOP tethering services contract offshore Brazil from Petrobras. The contract duration is one-year with the option to extend for an additional year.
News
October 13, 2020
Halliburton's Crush & Shear technology reimagines the bit by placing roller cones in the bit’s center for efficient crushing of the formation and moves the cutters to the shoulder for maximal rock shearing.
News
October 06, 2020
Caterpillar Inc. has signed an agreement to acquire the Oil & Gas Division of the Weir Group PLC, a Scotland-based global engineering business. Headquartered near Fort Worth, Texas, Weir Oil & Gas produces a full line of pumps, flow iron, consumable parts, wellhead and pressure control products.
News
October 06, 2020
The world’s largest owner of deep-water oil rigs recently engineered a bond swap to trim some of its $9 billion debt load and ease the crunch caused by slumping energy prices. But other creditors say the transaction amounts to a default because it pledges assets that Transocean already promised to them.
