Home / Author Archives: Jay Stracke

Author Archives: Jay Stracke

ADES secures a seven-year contract in Saudi Arabia

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ADES has announced that it has successfully renewed an existing contract for the Admarine 657, an ultra-shallow offshore rig previously acquired in June 2018. The renewal for the Admarine 657, which is currently contracted and operating in Saudi Arabia, is effective after the expiry of its existing contract during Q1 2019. The renewal tenor is for seven years (including a two-year option) and is expected to add up to $150 million of backlog with the dayrate broadly in line with the existing contract. “We are delighted to have extended the contract for Admarine 657 with this important and valued customer,” Dr Mohamed Farouk, Chief Executive Officer of ADES International Holding, said. “We now have a long-term contracted visibility, underlining our ability to consistently ...

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Deal struck for management buy-out of integrated advisory service at Drilling Systems

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Drilling Systems, which is part of the 3T Energy Group, has sold the consultancy side of its business in a management buy-out. The Drilling Systems’ Integrated Advisory Service (IAS) has been acquired by Graeme Eglintine, previously Vice President of Drilling Systems’ IAS & MENA region. IAS was established in 2016 and has been successful in providing bespoke training, development, competence and talent management solutions for the drilling, well control and lifting sectors around the globe with Drilling Systems’ technology at their core. The management buy-out will allow Drilling Systems to focus on its market-leading simulator business and advance 3T Energy Group’s vision to transform the global energy training sector through technology. Both Drilling Systems and the new consultancy business will ...

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ExxonMobil makes final investment decision to develop West Barracouta Gas Project

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ExxonMobil has stated that it has made a final investment decision to develop the West Barracouta gas field in Bass Strait to bring new gas supplies to the Australian domestic market. The project, located in the VIC/L1 block offshore Victoria, is part of the company’s continuing investment in the Gippsland Basin. The company recently completed front-end engineering design work for the project, which is part of the Esso-BHP Gippsland Basin Joint Venture, and awarded contracts to Subsea 7 and OneSubsea, a Schlumberger company. The project will be tied back to the existing Barracouta infrastructure offshore in Bass Strait, the first offshore field ever discovered in Australia. “We continue to use advanced technology, along with our extensive, decades-long understanding of the Gippsland ...

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AFGlobal and MHWirth sign distribution agreement

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AFGlobal and MHWirth have entered into a distribution agreement, providing the managed pressure drilling market with a comprehensive package for deepwater rig systems. This non-exclusive agreement enables MHWirth to offer AFGlobal MPD equipment for sale within their rig equipment business. As a leader in drilling rig systems, MHWirth can now offer the industry’s most comprehensive MPD kit as part of their new build and retrofit packages. “Our shared purpose in this arrangement is to provide clients with optimal quality and efficiency in the offshore drilling environment,” Roy A. Dyrseth, Chief Commercial Officer of MHWirth, said. “We are pleased to partner with MHWirth to provide next-generation systems and market-leading manufacturing capabilities in both MPD equipment and rig systems to the offshore ...

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AFGlobal launches new performance drilling platform

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AFGlobal has announced the launch of their Performance Drilling platform, a unique combination of equipment and software aimed at the onshore and shallow water drilling markets. AFGlobal’s Performance Drilling platform incorporates equipment and software to seamlessly support rig operations with fundamental capabilities, including: applying surface back pressure set point pressure control while drilling, automated ramp schedules during connections, early kick loss detection (EKLD) and choke condition-based monitoring (CBM). Built around AFGlobal’s rotating control device (RCD) technology, metering and measurement package and task-specific intelligent control, the Performance Drilling toolkit enables drilling contractors to safely and efficiently maximize performance with industry-proven solutions that increase ROP, improve safety and increase hole stability while minimizing sticking. AFGlobal’s decades of manufacturing, engineering and operational experience have engineered ...

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Trust, technology and transformation key to re-energising oil & gas collaboration

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The oil and gas industry’s drive to increase collaboration between suppliers and operators in the UK Continental Shelf (UKCS) has continued to maintain a consistent performance. This is according to an annual survey published by Deloitte and Oil & Gas UK which includes the Collaboration Index, measuring the effectiveness of companies as partners in collaboration. The findings of the UKCS Upstream Supply Chain Collaboration Survey 2018 showed that, while activity levels in the basin were gradually picking up and the appetite for collaboration remains very high, the industry-wide Collaboration Index score of 7.1 has remained the same as 2017. This is a strong sign that the industry can increase efforts to build on the track record it has attained over ...

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Mixed outlook for proppant in 2019

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Going into 2019, the outlook for proppant – a key ingredient of fracking fluid in the shale completion market – is mixed if not outright depressed. Room for price improvements is hard to spot. Rystad Energy has just released a new proppant market study as a part of its Shale Intel product suite. The study reveals mixed perspectives and numerous challenges which the proppant industry will have to deal with in the near future. “The recent oil price collapse has generated a lot of uncertainty on the demand side of the equation next year. We see a range of between 109 million and 133 million tons when we vary oil price assumptions for WTI Nymex between $50 and $73 per bbl. ...

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French Guyana: Total commits to carry out its exploration campaign with transparency and invites NGOs to visit drilling operations

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Total is ready to start its exploration campaign on the Guyane Maritime license, located 150 km off the French Guyana coast, in the days following the arrival of the drilling ship on site, as authorized by the prefectoral decree dated 22 October 2018. Conscious of the questions that this campaign could raise, Total wishes to highlight that it is a responsible company that conducts operations while constantly seeking to minimize the environmental risk and is determined to act with transparency. As such, Total commits to the following: Total obviously does not conduct drilling operations in coral reefs The closest reef identified is located 30 km from the drilling point and is not coral. According to the scientists who carried out a 50-day ...

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American Petroleum Institute awards bolt fatigue testing program contract to DNV GL

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The American Petroleum Institute has awarded a contract to DNV GL, the technical advisor to the oil and gas industry, for the full-scale S-N fatigue testing of large diameter bolts. The objective of the program is to improve fatigue assessments of critical bolted connections particularly in subsea applications by generating new test data. This testing will take place within DNV GL’s global laboratory network involving its sites in Columbus, OH and Norway, which provide extensive corrosion expertise and the ability to test up to capacities of 7500 kN. These laboratories have key subject matter experts in the areas of fatigue of subsea equipment, bolting connections, cathodic protection and instrumented tests. The program will be performed in a strictly controlled environment. ...

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Permian gas flaring hits all-time highs

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Rystad Energy estimates that gas flaring in the Permian averaged 407 million cu ft per day in Q3 2018 – and this number is likely to climb even higher once final disposition figures are registered, given the significant level of under-reporting that still exists for September. Rystad Energy expects flaring to grow well into 2019, reaching a level of at least 600 MMcfd by mid-2019 assuming WTI Nymex oil prices recover to $60 per barrel to support existing activity levels.  In Texas, Ry observes an increased tendency whereby gas is flared on new wells for extended periods – often between four and six months – far beyond the 45-day period covered by the initial flaring permit.

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