Archive | Global and Regional Markets

US EIA: Increase in energy demand requires 33 million bbl/day more oil

Posted on 26 November 2014 in Global and Regional Markets, News, Videos

The world is going to need one-third more oil between 2010 and 2040, with developing countries, such as China and India, accounting for a major portion in the increase in…

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Petrobras completes drilling first appraisal well in Libra Consortium

Posted on 25 November 2014 in Global and Regional Markets, News, The Offshore Frontier

Petrobras recently completed drilling the first appraisal well in the Libra area, the 3-BRSA-1255 (3-RJS-731), known as NW1. Located in the Northwest portion of the Libra block, in the pre-salt layer of the…

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Ensign secures contracts for 2 ADR 1500S pad drill rigs in Montney area

Posted on 24 November 2014 in Global and Regional Markets, News, Onshore Advances

Ensign Energy Services has signed contracts for two of its new ADR 1500S pad drill rigs for a major operator in the Montney area of northeast British Columbia…

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Statoil cancels Stena Carron rig contract offshore Angola

Posted on 21 November 2014 in Global and Regional Markets, News, The Offshore Frontier

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola…

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Stepwise approach guides Statoil’s North American onshore path

Posted on 19 November 2014 in Global and Regional Markets, News

When Statoil entered the North American onshore industry in 2008, it was a non-operator in a joint venture (JV) with Chesapeake in one shale play. Since then, Norwegian-based…

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Stilley: Despite challenging outlook, opportunities are plenty in the long term

Posted on 18 November 2014 in Global and Regional Markets, News, The Offshore Frontier, Videos

Opportunities abound for the drilling industry even in an environment of high costs and falling oil prices, Randall D. Stilley, President & CEO of Paragon Offshore, said…

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Powell: Drilling contractors responsible for well control; planning, risk assessment fall under operators in EU directive

Posted on 18 November 2014 in Global and Regional Markets, IADC: Global Leadership, Global Challenges, News, The Offshore Frontier, Videos

Before joining IADC, Taf Powell served with the European Commission as an expert adviser in offshore drilling and…

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Adkins: Bearish outlook in near term, $75 oil in 2015

Posted on 18 November 2014 in Global and Regional Markets, News

The global industry outlook is bearish in the near-term. Oil supply is growing twice as fast as demand, and the simple solution to this oversupply is to lower prices…

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Jenkins: Addressing BOP maintenance can help to curb rising costs in GOM

Posted on 18 November 2014 in Global and Regional Markets, News

The continuing increase in drilling and completion costs is a concern involving all industry stakeholders, Murphy Oil’s President & CEO emphasized at the 2014 IADC Annual General Meeting…

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Statoil suspends 2 rigs due to overcapacity

Posted on 06 November 2014 in Global and Regional Markets, News, The Offshore Frontier

Statoil has decided to suspend two new rigs due to overcapacity in the rig portfolio. Transocean Spitsbergen and Songa Trym will be suspended through 2014, a period which might be extended…

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