Home / News (page 11)

News

BOEM completes analysis of royalty rates for offshore oil and gas leases

Offshore default

BOEM has completed an analysis of their royalty rates and have decided to set the royalty rate at 12.5% for leases located in water depths less than 200 m in the proposed Gulf of Mexico (GOM) Sale 249. This is lower than the proposed 18.75% royalty rate for shallow water leases published in the Proposed Notice of Sale, and is consistent with the federal onshore oil and gas lease royalty rate of 12.5%. The purpose of this change is to adjust the royalty rate to reflect recent market conditions, thereby encouraging competition and continuing to receive a fair and equitable return on oil and gas resources. The royalty rate in 200 m of water and deeper will remain at 18.75% as in the Proposed Notice of Sale...

Read More »

OSRL tests and validates remote sensing equipment

dsc_0021

A recent offshore exercise, conducted by Oil Spill Response (OSRL), was designed to understand how remote sensing technologies can help detect oil spills at sea more effectively. Utilizing the latest in satellite, airborne and in-water surveillance and communications equipment, the highly successful event demonstrated the value of the state-of-the-art technology in identifying and monitoring spills and was conducted with full approval of the Marine Management Organization (MMO) following a rigorous planning and stakeholder consultation process...

Read More »

US land rig count grows by 12

default-img-featured-land5

After last week’s drop in oil and gas rigs, Baker Hughes has reported a 12-rig increase this week for rigs drilling onshore US. There are now 927 land rigs, putting the total US rig count at 952. One year ago, there were only 440 rigs drilling in the US.

Read More »

Zinke signs secretarial order to streamline federal onshore oil and gas leasing permits

interiorlogo

US Secretary of the Interior Ryan Zinke signed a secretarial order to tackle permitting backlogs and delays, identify solutions to improve the permitting process on federal lands, and to identify solutions to improve access to additional parcels of federal land that are appropriate for mineral development. As of 31 January 2017, the Bureau of Land Management (BLM) had 2,802 Applications for Permit to Drill (APD) pending...

Read More »

Drilling outlook: Offshore to remain weaker than onshore in near future

screen-shot-2017-07-05-at-11-15-45-am

This year has so far been better than 206, but the industry still has a long way to go on its path to recovery. Speaking at the 2017 IADC World Drilling Conference on 28 June in Amsterdam, Matt Adams, Senior Analyst with Douglas-Westwood, highlighted the current attractiveness of onshore projects compared with offshore, including the lower risks and quicker returns...

Read More »

Challenges, limitations must be understood before industry can fully leverage data mining

screen-shot-2017-07-05-at-11-16-16-am

Data mining is defined as the computing process of discovering patterns in large data sets involving methods at the intersection of machine learning, statistics and database systems. How to best leverage data mining is something that the drilling industry is still trying to determine. In this video from the 2017 IADC World Drilling Conference on 29 June in Amsterdam, Christian Herbig, Project Engineer at the Baker Hughes Celle Technology Center in Germany, discusses the main challenges to leveraging big data in drilling, as well as benefits/limitations of data mining...

Read More »

Wired drill pipe enables automation, optimization of drilling process

screen-shot-2017-07-05-at-11-16-39-am

Maersk Drilling and National Oilwell Varco (NOV) recently collaborated on a project in the Norwegian North Sea in which wired drill pipe technology was installed and deployed on a jackup to improve the drilling process. The details of this project were discussed in a presentation at the 2017 IADC World Drilling Conference on 28 June in Amsterdam. The presentation was jointly delivered by Sarah Balangalibun, Senior Mechanical Engineer for Maersk Drilling, and Sanna Zainoune, Senior Dynamic Drilling Solutions Engineer with NOV. In this video with DC, Ms Balangalibun and Ms Zainoune talk about the challenges on this Norwegian field that led to the implementation of wired drill pipe technology, specific applications that were deployed the rig, as well as results achieved. Watch the video to learn more...

Read More »

Thigpen: Improving performance, efficiency will be key for offshore to compete with shales

ThigpenTN

The offshore industry has reduced deepwater development costs by up to 50% over the past couple of years, much of it sustainable, but is that enough for deepwater to compete with shales for investors’ capital? In the near term, probably not, acknowledged Jeremy Thigpen, Transocean President and CEO, in a keynote presentation at IADC World Drilling 2017. But in the long term, there remains a critical need for deepwater resources...

Read More »

Companies should leverage data to make people, not machines, smarter

screen-shot-2017-07-05-at-11-16-52-am

When talking about big data, the focus is often on using it to improve machine or software capabilities. However, the goal of big data should actually be to enable better human decision-making, Amit Mehta, Chief Excellence Officer for data analytics company Moblize, said at the IADC Drilling Engineers Committee Technology Forum, held on 14 June in Houston. In this video with DC, Mr Mehta explains how engineers can use big data to improve their performance and separate fact from fiction...

Read More »