Drilling
News
June 04, 2021
Costs for everything from labor to diesel to steel have climbed in the oil field this year as explorers return to work following last year’s pandemic-driven crash in crude prices. Steel prices for the drill pipe used in new wells could rise about 50% in 2021, Citigroup said.
News
June 02, 2021
Under an Interior Department order issued Tuesday, the agency is temporarily halting action on nine leases spanning more than 400,000 acres (161,870 hectares) of the Arctic National Wildlife Refuge, while it conducts a fresh environmental analysis of the program.
News
May 24, 2021
The merger of Cabot Oil & Gas Corp. with Cimarex Energy Co. announced Monday has confounded investors and analysts, leaving them to question the logic behind a tie-up that the companies say will increase diversification. Cimarex is mostly an oil explorer in Texas and Oklahoma, while Cabot is focused on natural gas drilling in the Marcellus shale basin in Appalachia.
News
May 18, 2021
“The so-called CLEAN Future Act is nothing more than the Green New Deal in lipstick,” said Texas Railroad Commissioner Wayne Christian. “This legislation would effectively federalize regulation of oil and gas, increasing costs to consumers and our national debt, while harming our energy independence and national security.”
News
May 10, 2021
Schlumberger and NOV announced a collaboration to accelerate automated drilling solutions adoption by oil and gas operators and drilling contractors. The agreement will enable customers to combine Schlumberger surface and downhole drilling automation solutions with NOV’s rig automation platform to deliver superior well construction performance.
News
May 03, 2021
EnerVest Ltd., a private equity firm that specializes in shale drilling, fired 111 people at its Houston headquarters, citing “challenging times for the industry.”
News
May 02, 2021
Arabian Drilling Co., a Saudi oilfield-services company partly held by Schlumberger NV, is preparing an initial public offering that could give it a valuation of around $2 billion, according to people familiar with the matter.
News
April 30, 2021
Chesapeake Energy Corp., the once mighty shale explorer that exited bankruptcy earlier this year, is seeking to sell oil-producing assets in South Texas for as much as $2 billion, according people familiar with the plan.
News
April 29, 2021
BJ Energy Solutions' first 40,000 Horsepower (HHP) TITAN fleet began a phased deployment in the Haynesville on Jan. 5, becoming fully operational by Jan. 31.
News
April 29, 2021
Vitol Group is said to be near a purchase of Hunt Oil Co.’s Permian Basin oil wells in what would mark the biggest independent crude trader’s first major acquisition of U.S. production assets, according to people with knowledge of the matter.
News
April 26, 2021
LYTT developed a technology that identifies and differentiates multiple downhole well integrity events by using unique algorithmic pattern recognition capabilities that build on acoustic measurements from Distributed Acoustic Sensing data.
News
April 22, 2021
Further improving upon the successful ION platform, ION+ cutters comprise a wide range of application-specific cutter grades that incorporate refined diamond feeds, higher manufacturing pressures, and new, nonplanar interfaces.
News
April 21, 2021
“I expect international activity growth to accelerate, and the early positive momentum in North America gives me confidence in the activity cadence for the rest of the year,” CEO Jeff Miller said in a statement. “I am optimistic about how this transition year is shaping up.”
News
April 14, 2021
Petrostates in the Persian Gulf are trying to bolster their economies after they were hit last year by coronavirus lockdowns and the crash in oil prices. They also want to diversify from fossil fuels by using money raised from their oil assets to invest in other industries.
Webcast
Innovative Power Section Design Drives Performance and Improves Reliability
April 21, 2021
Abaco Drilling
Abaco's single direction stators with deviated profiles address drilling stresses on the power section lower end using a variable fit that reduces friction and overheating. The result has been a proliferation of the technology across all the demanding drilling applications in the US shale basins.
We will show details of the way Abaco’s OPTIFIT technology addresses stall and thermal damage in challenging drilling environments. Dyno test power curve comparisons showing OPTIFIT versus conventional designs will be presented. We will close with a summary of the field successes in a variety of basins and formations.
News
April 01, 2021
Optimism has also been buoyed by expectations that global crude supplies won’t grow fast enough to satisfy demand as Covid-19 vaccinations proliferate and economies that shut down for the better part of a year begin reopening.
Webcast
The Future of Drilling is Here: Rethinking Drilling Innovation
April 13, 2021
Corva
Faster, cheaper, safer, better. Whether drilling onshore or offshore, these four words represent the challenges and currency of success for any drilling operation. As the industry continues to see new records for faster ROP and reduced NPT, an exciting challenge of consistency within drilling performance and digitalization of the drilling value chain remain.
Our industry experts will explain how our clients across continents and basins, sizes (small and large) have benefited from increased speeds of well delivery, consistency in high drilling performance and simplified well design automation. These key outcome metrics were achieved without adding organizational and technical implementation complexities, which are important pillars for seamless adoption across multi-faceted disciplines within organizations.
News
March 29, 2021
KCA Deutag has secured contracts worth around $110 million for its land drilling business in Pakistan, Russia, Kurdistan, south-eastern Europe and Germany. The new business is made up of a mix of contract wins, allowing the company to mobilize stacked rigs, and contract extensions.
News
March 25, 2021
The backlog of drilled but uncompleted shale wells called DUCs is rapidly shrinking as oil prices rise, signaling that producers are ready to put drilling crews back to work as the industry rebounds from its pandemic-driven downturn.
News
March 24, 2021
The oil price needed to profitably drill a new well is $52 a barrel, executives from almost 100 producers said in the latest quarterly survey by the Federal Reserve Bank of Dallas. That’s an increase of 6%, compared with when the question was asked last year. To cover costs on existing wells, companies need $31, which is 3% more than last year.
News
March 22, 2021
Baker Hughes has reached a significant technology milestone in pioneering a solution to overcome flexible pipe stress corrosion cracking (SCC) tendencies in high CO2 content fields, such as those found in Brazil’s pre-salt offshore developments.
