Archive | Global and Regional Markets

Wood Mackenzie: Falling costs to soften blow of slashed exploration budgets

Posted on 26 March 2015 in Global and Regional Markets, News

Exploration budget cuts in 2015 will average 30%, but that will be matched by an approximately equal fall in exploration costs…

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Douglas-Westwood: Oilfield services expenditure to decline by 30% in 2015

Posted on 25 March 2015 in Global and Regional Markets, News, Onshore Advances, The Offshore Frontier

Global oilfield services (OFS) markets are facing difficult headwinds as a function of commodity prices…

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Petrobas breaks record for well drilling depth in Sergipe-Alagoas Basin, begins P-61 production in Papa Terra field

Posted on 18 March 2015 in Global and Regional Markets, News, The Offshore Frontier

Petrobras has started production on platform P-61 in Papa Terra field, located near the southern perimeter of the Campos Basin…

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ExxonMobil resumes drilling at Point Thomson on Alaska’s North Slope

Posted on 13 March 2015 in Global and Regional Markets, News, Onshore Advances

ExxonMobil announced that it has resumed drilling at Point Thomson on Alaska’s North Slope as construction continues toward bringing the initial production system online…

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Drilling & Completion News

Posted on 10 March 2015 in 2015, Global and Regional Markets, March/April

Maersk Drilling has taken delivery of its third XL Enhanced ultra-harsh environment jackup, the Maersk Integrator…

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Canadian market cools as weather warms, prices fall

Posted on 10 March 2015 in 2015, CurrentFeatures, Features, Global and Regional Markets, March/April

As frost on the ground gives way to spring thaw and oil prices stay low, Canadian drilling contractors are packing up rigs early in preparation for next winter…

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BP makes second significant gas discovery in Egypt’s East Mediterranean Sea

Posted on 09 March 2015 in Global and Regional Markets, News, The Offshore Frontier

BP Egypt has announced another important gas discovery in the North Damietta offshore concession in the East Nile Delta…

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BP finalizes deal to develop Egypt’s West Nile Delta gas fields

Posted on 06 March 2015 in Global and Regional Markets, News, The Offshore Frontier

BP has signed the final agreements of the West Nile Delta (WND) project to develop 5 trillion cu ft (TCF) of gas resources and 55 million bbl of condensates with an estimated investment of…

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Kosmos Energy finds hydrocarbons in CB-1 exploration well offshore Western Sahara

Posted on 03 March 2015 in Global and Regional Markets, News, The Offshore Frontier

Kosmos Energy announced that the CB-1 exploration well located in the Cap Boujdour permit area offshore Western Sahara encountered hydrocarbons. The well penetrated…

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Wisco Moran debuts Padwise 1 walking rig in Texas

Posted on 02 March 2015 in Drilling Rigs & Automation, Global and Regional Markets, Innovating While Drilling, News, Onshore Advances

The trend among drilling contractors to install walking systems on rigs has solved a major logistical problem for operators on multiwell pads – negating the need for costly…

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