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US land rig count shows modest growth

The US land rig count increased by seven this week, according to the Baker Hughes rig count. There are now 881 rigs onshore US, and the total rig count stands at 908. Despite the modest growth, the total US rig count has increased by 504 units from one year ago, at this time. Since last year, the Gulf of Mexico has maintained a rig count of 23.  

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API creating standards for floating structures integrity management

API is in the process of crafting standards for integrity management in floating structures. The standards will encompass the integrity management of risers, mooring and floating systems. “We developed these in a coordinated fashion because there’s a lot of interconnect between them,” Sathish Balasubramanian, Engineering Manager at ExxonMobil, said at a BSEE International Standards Workshop in Houston on 5 May. Mr Balasubramanian is working with API’s SC2 Committee on Offshore Structures to draft the standards...

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President proposes $204.9 million in FY 2018 budget for BSEE

President Donald Trump today proposed a $204.9 million Fiscal Year (FY) 2018 budget for the Bureau of Safety and Environmental Enforcement (BSEE). The budget ensures continued support of the offshore energy industry’s safe and responsible operations providing for secure and reliable energy production for America’s future. BSEE fosters safe and environmentally responsible energy production on the US Outer Continental Shelf through regulatory oversight of oil and gas operations. The FY 2018 budget request is $204.9 million, a $600,000 increase above the FY 2017 CR level, and includes $112.0 million in current appropriations and $92.9 million in revenue from rental receipts, cost recoveries, and inspection fees...

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Turning Point USA engages with students to promote limited government, free market

Turning Point USA was founded in 2012 with a focus on developing student advocates for small government and free markets. The organization’s Founder and Executive Director, Charlie Kirk, spoke about the economic and social benefits of the oil and gas industry at 2017 IADC Drilling Onshore Conference on 18 May in Houston. He futher encouraged the industry to be more active in public engagement. In this video from the conference, Mr Kirk explains how his organization is working to engage with college and high school students and what he hopes to achieve from this engagement...

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More onshore participation needed in IADC cybersecurity efforts

Cyber attacks on industrial control systems are on the rise, and it’s estimated that 41% of cyber attacks target the oil and gas industry. Since the publication last year of the IADC Guidelines for Assessing and Managing Cybersecurity Risks to Drilling Assets, the IADC Cybersecurity Subcommittee has been working on new guidelines around minimum cybersecurity guidelines for drilling rigs...

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Regulatory update: Executive orders are favorable to oil and gas industry

Four of the 36 president executive orders issued so far in 2017, including an order to review the five-year-plan for offshore drilling, will have a direct impact on the oil and gas industry. In this video from the 2017 IADC Drilling Onshore Conference on 18 May in Houston, IADC Vice President of Policy and Government Affairs Liz Craddock outlines these executive orders and what their impact could be on the oil and gas industry...

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Precision Drilling deploys process automation for faster, more consistent connection times

Process automation is an added layer on top of the control system that adds automation to the rig equipment while maintaining the driller as the process manager. Although process automation has the potential to deliver significant performance gains on drilling rigs, the industry has only just begun to scratch the surface of using such technology, Duane Cuku...

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IHS Markit: Pricing power for service sector could push up total well costs, curtailing US onshore recovery in 2018

By Linda Hsieh, Managing Editor The US land rig count has doubled from its nadir last year, but land drillers must be cautious about basking in “an irrational exuberance,” Stephen Beck, Senior Director and Head of North American Oil & Gas Supply Forecasting for IHS Markit, said. Speaking at the 2017 IADC Drilling Onshore Conference on 18 May in Houston, Mr Beck noted that the industry’s excitement over increasing activity levels is overshadowing the attention that should be paid to supply impacts. “Rig count recovery has already outpaced the price of oil,” he cautioned, noting that oil prices have not grown much this year to support such an increase in the rig count. Going into the second half of 2017, ...

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