Archive | News
Analyst: Low oil prices likely to delay upstream developments in northwest Europe
Posted on 01 December 2014 in Global and Regional Markets, News
With oil prices falling to a four-year low, the development of two frontier basins in northwest Europe, the Barents Sea and the West of Shetland (WoS)…
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…
Prescriptive Analytics prescribes how to complete wells to maximize production
Posted on 25 November 2014 in Completing the Well, Innovating While Drilling, News, Videos
“Big data” is taking on a new role in industry, where companies are combining the findings from geology and geophysics with new data collected from advanced technologies…
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…
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…
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…
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…
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…
In well control, an ounce of prevention is worth a pound of cure
Posted on 18 November 2014 in Drilling It Safely, News, The Offshore Frontier, Videos
It has been more than four years since Macondo, and the long-term effects of the oil spill are still being determined. “Oil is a natural substance that can be degraded…
Plaisance: Well Control Institute evaluating priority topics
Posted on 18 November 2014 in Drilling It Safely, IADC: Global Leadership, Global Challenges, News, Videos
The Well Control Institute (WCI) Board of Directors convened on 11 November in New Orleans. Moe Plaisance, who recently retired from Diamond Offshore Drilling, has…
Recent Drilling News
30 January 2015
Chevron, BP, ConocoPhillips advancing Paleogene discoveries in deepwater GOM
Chevron and BP will collaborate with ConocoPhillips to explore and appraise 24 jointly-held offshore leases in the northwest portion of Keathley Canyon...
29 January 2015
PetroQuip deploys BigFoot toe sleeve in Anadarko Basin
PetroQuip Energy Services successfully implemented its revolutionary toe sleeve, BigFoot, in a recent horizontal completion for an independent operator...
27 January 2015
US EIA: Lower 48 oil production outlook stable despite expected rig count reduction
The sharp decline in oil prices over Q4 2014, which has continued in January, is already having a significant effect on drilling activity in the US, according...
27 January 2015
Hess announces 2015 capital, exploratory budget
Hess Corp announced a 2015 capital and exploratory budget of $4.7 billion, a 16% reduction from its 2014 actual spend of $5.6 billion. Of this, $2.1 billion (45%) is budgeted for unconventional shale resources...
26 January 2015
Young professionals program at SPE/IADC Drilling Conference to target future leaders of the industry
The oil and gas industry is constantly looking to the future. Whether this comes in the form of pushing the limits of pressure...