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November/December

Drilling & Completion News

Atwood Oceanics has agreed to a one-year extension and rate adjustment to its existing contract with Kosmos Energy Ventures for the Atwood Achiever. The ultra-deepwater drillship commenced its three-year drilling services contract with Kosmos on 12 November 2014 for operations offshore northwest Africa. The agreement adjusts the operating dayrate to approximately $495,500, net of taxes, and extends the contract end date to 12 November 2018. As part of the agreement, Kosmos has an option that may be exercised at any time through 1 October 2016 to revert the contract to the original operating dayrate and original end date. Exercising this option will result in a payment that includes the difference in dayrates, taxes and an administrative fee covering the time periods for which the reduced day rate was invoiced.

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Drilling & Completion Tech Digest

Halliburton’s Completion Tools business line has achieved the first installation of the SmartPlex downhole control system in a six-zone multilateral well. The installation was a joint effort across functional teams within the Intelligent Completions group and was the first electro-hydraulic (EH) system installed by Halliburton in the Middle East. The installation was completed with zero nonproductive time and no HSE issues.

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As industry seeks cheaper ways to boost production, horizontal refractures gain prominence

The convergence of reduced operator CAPEX, advances in fracturing technologies and know-how, and diminishing production from vintage shale wells is shining a spotlight on well refracs. Particularly with lower oil prices rendering some new drilling projects uneconomical, operators are increasingly looking to refracturing as a low-cost method of boosting production. “It’s a perfect storm,” said Tim Leshchyshyn, FracKnowledge President and Completions Advisor for Korean National Oil Company. “It is not going to be as good as when we were drilling all those (new) wells each year, but it is an area of great potential.”

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Dayrates are down, but rig count remains steady in Middle East

While a downward trend in activity and rig count has been observed around the world in response to the oil price slump, the Middle East appears to be bucking this trend. According to numbers from Baker Hughes, the Middle East’s rig count has averaged 404 to date in 2015. That’s nearly the same as the region’s average rig count of 406 in 2014 and up from an average of 372 rigs in 2013.

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Raising the sand bar

In virtually every well worldwide, operators have to contend with some degree of sand production, a phenomenon that more often than not leads to erosion, sand accumulation, plugging, formation collapse and contamination. These issues have serious financial, safety and environmental implications for operators, often resulting in clean-outs, reduced flow rates and production, and unplanned shutdowns.

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Taking holistic approach to designing cement sheaths helps maintain zonal isolation for life of well, increases ROI

More than ever, financial institutions are requiring increased returns on their investments. Oil and gas producers are seeking larger reservoirs with higher delivery rates. Many of these new reservoirs are in areas that present unique technical and operational challenges, such as ultra-deepwater, high pressure and/or high temperature, extreme extended reach, brownfield redevelopments, etc. The cost for finding and harvesting oil and gas reservoirs is increasing, which also affects shareholder value.

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Perspectives: Randy Smith: Industry’s well control training courses must focus on preparing its employees for work, not for tests

Randy Smith, founder of Smith Mason & Co, has always had a passion for teaching and coaching. While working in the Middle East and North Sea for Sedco in the 1970s and ’80s, Mr Smith coached baseball and basketball teams in his free time. Many of the players he coached were children of the managers and executives of oil companies and drilling contractors who were living in the area. So when Mr Smith started his first training school – Randy Smith Training Solutions – in 1988, he realized that the connections he had made through sports were actually helping him to develop and grow his company. “We did a lot of training throughout the world, building that company for 20 years doing well control, stuck pipe prevention, TRUE (Training to Reduce Unscheduled Events) training and leadership training.”

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IADC engages in multitude of initiatives to catalyze improved performance for the global drilling industry

2015 marked the 75th anniversary of IADC. Over this time, our members have experienced the inevitable ebbs and flows of the global oil and gas industry. But this year has been as testing as any we have known – low oil prices and high operational costs have led to drastic reduction in rig counts globally both onshore and offshore.

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