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Onshore Advances

ADES wins two new onshore contracts in Saudi Arabia

ADES has announced that it has secured two onshore drilling contracts in the Kingdom of Saudi Arabia (KSA), following a competitive tender process. Each of the secured contracts has a tenure of seven years (five years fixed and two years optional) that will add a total estimated backlog of $150 million. Operations are due to commence in the second half of 2019. ADES will order two new-build onshore rigs that meet the contract specifications for a total cost of up to $45 million. ADES sees long-term potential for these assets in the Saudi market. “ADES’ reputation for operational excellence and its exemplary safety record allow it to bid for and win competitive tenders across the region,” Dr Mohamed Farouk, Chief Executive ...

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KCA Deutag awarded $110 million of land drilling contracts in the Middle East, Russia and Africa

KCA Deutag (KCAD) has announced that its land drilling operation has won new contracts and contract extensions worth approximately $110 million. These contracts are for onshore drilling in the Middle East, Russia and Africa. Middle East  In the Middle East, KCAD has won a total of seven years of contract extensions for five heavy rigs operating in Oman. The extension for each rig ranges from one to two years. In addition to this, the company has also signed a contract with a new client in Oman for one of the company’s 2000hp rigs. This is for a fixed term of six months.  Oman is a major market for KCAD and, following the company’s acquisition of the Omani and Saudi Arabian ...

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BP and Eni to pursue exploration in Oman

BP and Eni have signed a heads of agreement (HoA) with the Ministry of Oil and Gas of the Sultanate of Oman to work jointly toward a significant new exploration opportunity in Oman. Under the HoA, the two companies will work with the government of Oman toward the award of a new exploration and production sharing agreement (EPSA) for Block 77 in central Oman. BP and Eni will now enter discussions with the ministry to finalize details of the EPSA. “This would represent a further deepening of BP’s important position in Oman, building on our successful delivery of the major Khazzan project in 2017 and its second phase of development that is currently under construction,” Bernard Looney, BP Chief Executive Upstream, said. ...

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Rystad Energy: Haynesville Shale set to surpass historical gas output record from 2011

Gas production in the state of Louisiana will soon reach record highs thanks to an outstanding resurgence of the Haynesville shale play. Rystad Energy research shows that the Haynesville Shale alone was able to add 1.85 billion cu ft per day of gross gas production (Bcfd) between Q4 2016 and Q4 2017. An additional 1.3 Bcfd was added last year. Production needs to increase by 700 million cu ft per day (MMcfd) in order to reach new all-time highs. “We conclude that Haynesville Shale’s revival, for the second year in a row, looks sustainable. Supported by its proximity to a new LNG export terminal, gas production will continue to grow, and achieving new all-time high gas production levels should happen within a matter ...

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IHS Markit: Anadarko Basin’s unconventional reserves estimated at 16 billion bbl of oil

The Greater Anadarko Basin, a prolific source of conventional US oil and gas production since the 1950s, holds an estimated 16 billion bbl and more than 200 trillion cu ft of gas in un-risked technically recoverable resources in unconventional reservoirs, according to new energy research from IHS Markit. “The Anadarko Basin has long been a major contributor to US production, but it is just getting started in terms of delivering on its unconventional production potential,” said John Roberts, Executive Director, Global Subsurface Operations and co-author of the IHS Markit Anadarko Basin research with Prithiraj Chungkham, Director of Unconventional Resources. “We are now witnessing a new kind of Oklahoma land rush. But unlike what happened in 1889 when lands were opened to settlement, this ...

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Halliburton awarded drilling contract from Eni

Halliburton has announced it has signed two contracts with Eni to provide integrated drilling services at Eni’s Zubair Oil Field in Southern Iraq. Under the contracts, Halliburton will mobilize four to six rigs to drill development wells over the next two years. “We are pleased to be awarded this work and the opportunity to collaborate with Eni to engineer solutions for the development of Zubair,” Mahmoud El-Kady, Vice President of the Iraq Area for Halliburton, said. “We have provided a wide array of drilling services to Eni since 2011 and signing these contracts are a testimony to our continuous commitment to safety and superior service quality.” Halliburton is one of the leading service companies in Iraq and is focused on safe ...

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USGS identifies largest continuous oil and gas resource potential ever

The US Department of the Interior announced the Wolfcamp Shale and overlying Bone Spring Formation in the Delaware Basin portion of Texas and New Mexico’s Permian Basin province contain an estimated mean of 46.3 billion bbl, 281 trillion cu ft of natural gas, and 20 billion bbl of natural gas liquids, according to an assessment by the US Geological Survey (USGS). This estimate is for continuous (unconventional) oil, and consists of undiscovered, technically recoverable resources. “Christmas came a few weeks early this year,” Ryan Zinke, US Secretary of the Interior, said. “American strength flows from American energy, and as it turns out, we have a lot of American energy. Before this assessment came down, I was bullish on oil and gas production in the United States. Now, I ...

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