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November/December

Dayrates down, but rig demand remains stable in Middle East

While drilling markets remain depressed around the world, the Middle East still stands as a growth market. In this region, demand for drilling rigs appear to be relatively stable and is likely to continue growing in 2017 and beyond. “Few rigs have come off contract without going back to work,” said Niels Espeland, President, International at Grey Wolf Oilfield Services. “The Middle East has been stable throughout the cycles. Due to its unique drivers, there’s always been growth regardless of the global market cycles.”

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D&C News

Drilling of the first production well has begun on the Maersk Oil-operated Culzean field in the UK. The well is the first of six production wells to be drilled on the high-pressure, high-temperature (HPHT) field, with continuous drilling activity planned over the next five years. First gas is expected to be produced from Culzean in 2019.

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D&C Tech Digest

An operator in the Permian Basin recently ran two Halliburton RapidStart Initiator sleeves, designed for selective multistage frac and plug-and-perf operations, in a cemented long-string horizontal application. The operator, working out of Midland, Texas, needed a pressure-operated toe sleeve that could run in a cemented long-string horizontal application. To ensure well integrity, they wanted to perform a casing test prior to opening the sleeve. From there, they would establish a flow path from the casing ID to the formation, allowing them to pump the first stage of the frac job, then pump down the frac plug and perforating guns for the second stage.

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‘Permian Panic’ draws operators, boosts US onshore rig count

Low oil prices may be leaving the global drilling industry cold, but right now the Permian Basin is red hot. It’s so hot that people are calling it the “Permian Panic” – companies are rushing to snap up acreage because it is considered the lowest-cost US tight oil play with the best producing rock in North America. “The Permian is the key of all the tight oil plays,” said Skip York, VP Integrated Energy at Wood Mackenzie. The firm estimates that approximately a quarter of global oil and gas mergers and acquisitions (M&A) this year have taken place in the Permian.

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