Home / News (page 11)

News

Weatherford appoints Mark A. McCollum as President, CEO and Director

weatherford

Weatherford International announced that after a full and diligent search process, the Board has appointed Mark A. McCollum as President and CEO, as well as a member of the Board of Directors, with an effective start date in late April 2017. Mr McCollum is a proven executive with a background spanning over 36 years in the energy sector, most recently as Executive Vice President and Chief Financial Officer at Halliburton Company. In addition to Mr McCollum joining the Board of Directors of the Company, William Macaulay has been appointed Chairman of the Board of Directors...

Read More »

IEA: US leading charge in growing oil supply, but prices could still soar by 2020

us_production_growth

The US is leading the charge in increasing global oil production, but despite this massive contribution, world oil supplies might not meet demand after 2020 without approval of new projects “soon,” warned a new International Energy Agency report. The IEA report, “Oil 2017,” was unveiled at CERAWeek by IHS Market on 6 March in Houston. IEA Executive Director Dr Fatih Birol cited two main takeaways from the study. “We are witnessing the start of a second wave of US shale oil,” he said, cautioning, “We see significant risk of prices rising sharply starting with 2020, unless significant new projects are sanctioned.” While oil supply and demand over the next three years are “comfortable,” IEA projects that supply growth will slow significantly afterward. ...

Read More »

Wood Group begins detailed engineering of Leviathan



img-featured-generic-workersTN_default

Wood Group recently completed the seven-month front-end engineering design (FEED) for Noble Energy’s Leviathan Field Development Project in the Eastern Mediterranean Sea and has started the detailed engineering for the platform – including the topsides and jacket. The FEED and detail design has a total contract value of approximately $95 million.



Read More »

State bans, law suits could influence the future of hydraulic fracturing in the US

default-img-featured-land6

By Kelli Ainsworth, Editorial Coordinator Hydraulic fracturing, critical to the recovery of North American drilling activities, remains under threat in the US. Several states appear poised to ban hydraulic fracturing, including California and Maryland. Further, several legislation and legal actions are ongoing, including the US Bureau of Land Management (BLM) hydraulic fracturing rule that remains under appeal and a lawsuit in Oklahoma regarding fracturing and seismicity. At the same time, the general public remains very concerned about the effects of hydraulic fracturing – in terms of drinking water quality and induced seismicity, for example. Such concerns continue to drive the actions and decisions for many state agencies. “Perception affects what laws, regulations and bans go into place,” said Michael Gray, ...

Read More »