Home / Author Archives: Eva Vigh

Author Archives: Eva Vigh

US land rig count shows modest growth

default-img-featured-land

The US land rig count increased by seven this week, according to the Baker Hughes rig count. There are now 881 rigs onshore US, and the total rig count stands at 908. Despite the modest growth, the total US rig count has increased by 504 units from one year ago, at this time. Since last year, the Gulf of Mexico has maintained a rig count of 23.  

Read More »

IHS Markit: Pricing power for service sector could push up total well costs, curtailing US onshore recovery in 2018

Stephen Beck, Senior Director and Head of North American Oil & Gas Supply Forecasting for IHS Markit, speaks on a panel session at the 2017 IADC Drilling Onshore Conference on 18 May in Houston. Mr Beck explained that rising service costs will likely slow US onshore production in 2018, despite considerable activity ramp-up this year.

By Linda Hsieh, Managing Editor The US land rig count has doubled from its nadir last year, but land drillers must be cautious about basking in “an irrational exuberance,” Stephen Beck, Senior Director and Head of North American Oil & Gas Supply Forecasting for IHS Markit, said. Speaking at the 2017 IADC Drilling Onshore Conference on 18 May in Houston, Mr Beck noted that the industry’s excitement over increasing activity levels is overshadowing the attention that should be paid to supply impacts. “Rig count recovery has already outpaced the price of oil,” he cautioned, noting that oil prices have not grown much this year to support such an increase in the rig count. Going into the second half of 2017, ...

Read More »

US total rig count hits 901

default-img-featured-land6

The US total rig count continues to climb, reaching 901 this week, according to the Baker Hughes weekly rig count. This is a 16-rig increase from last week and a 497-rig increase from one year ago. This week, US land rigs grew by 14 and offshore increased by two.

Read More »

US rig count on 17th weekly rise

default-img-featured-land

For the past 17 weeks, the US rig count has continued to climb, according to the Baker Hughes weekly rig count. The total active rigs is now 885, compared to last week’s 877. The rig count jumped to 20 rigs in the Gulf of Mexico, a two-rig increase from one week ago.

Read More »

US rig count hits 877

Offshore default

The US total rig count has reached 877, a seven-rig increase from one week ago, according to the Baker Hughes rig count. Last year, that number stood at 415. US land rigs jumped by four this week, while offshore grew by two.

Read More »

US rig count continues to climb

default-img-featured-land5

The US total rig count grew by 13 from one week ago, with oil rigs increasing by nine and gas rigs by four. This marks the fifteenth straight build for oil rigs, with a 175-rig increase since 13 January. The total rig count now stands at 870. Last year, the US total rig count stood at a mere 420.

Read More »

US rig count up 10 this week

default-img-featured-offshore

The US total rig count climbed to 857 this week, an increase from last week’s 847, according to the Baker Hughes weekly rig count. There are currently 20 offshore rigs in the US and 20 in the Gulf of Mexico. Total North American rigs dropped to 956, compared to 965 from one week ago.

Read More »

NOV develops 140-ksi, sour gas-resistant coiled tubing

screen-shot-2017-03-28-at-11-07-43-am

National Oilwell Varco (NOV) recently developed 140-ksi specified minimum yield strength (SMYS) coiled tubing, or CT140. Because the target market for high-strength tubing is high-pressure well intervention and completions, sour gas compatibility testing was performed. The testing program verified that while using chemical inhibitors, the tubing/inhibitor system was not susceptible to sulfide stress cracking. In this video from the 2017 SPE/ICoTA Coiled Tubing and Well Intervention Conference in Houston on 21 March, Kevin Elliot, NOV Product Engineering Manager, discusses the development process that was undertaken, as well as the resulting mechanical properties and fatigue life of CT140. For more information about this project, please see SPE 184806, “Development and Compatibility Testing of Coiled Tubing With 140-ksi Specified Minimum Yield Strength.”

Read More »

Newfield’s oil well breaks record 24-hour peak, 20-day average oil production rates

default-img-featured-land

Newfield Exploration Company‘s STACK (Oklahoma’s Sooner Trend oilfield, Anadarko Basin, and Canadian and Kingfisher counties) well recently achieved record oil production, according to the company’s recently disclosed results. Newfield has also raised expectations for its Q1 2017 domestic production. The Burgess well (4,859-ft lateral length), located in Kingfisher County, Okla., and the heart of the company’s 300,000 net STACK acres, achieved a 24-hr flow rate of 2,931 bbl of oil equivalent per day (BOEPD) (69% oil) and a 20-day average rate of 2,492 BOEPD (70% oil). When compared against publicly available industry data, the Burgess achieved record 24-hr oil production per 1,000 ft of gross perforated interval (1,000 ft GPI), or 417 bbl of oil per 1,000 ft GPI. The well also had a record 20-day ...

Read More »