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Onshore Advances

NOV rig census shows pandemic’s historic impact on drilling industry

Global rig demand has fallen to lowest point in census history, dating to 1955; North America has been hardest-hit, with Permian utilization at just 26% By Tarjei “TJ” Myklebust, Karl Appleton and Kevin Scherm, National Oilwell Varco The start of any 2020 census, in any industry or any part of the world, must begin with the impact of COVID-19. For oil and gas, the impact was a drastic drop in demand. Oil and gas drilling has been one of the most negatively impacted industries during the pandemic, and recovery appears to be slower than everyone had hoped. Early in the pandemic, the industry was further impacted by the market share war between Saudi Arabia and Russia that led to oversupply ...

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FlexRigs: A milestone in the evolution of modern land rig technology, safety

Same desire for continuous improvement that drove design of FlexRigs is now driving H&P’s pursuit of better wellbore quality through digital, automation technologies By Linda Hsieh, Editor & Publisher In the annals of modern drilling history, the development of the Helmerich & Payne (H&P) AC-drive FlexRigs will surely go down as a key turning point in the evolution of modern rig design and technology. In terms of both safety and efficiency, these rigs proved to be a game changer that broke the prevailing “rigs are a commodity” paradigm in the US onshore market in the early 2000s. Up to that point, rig design was focused on drilling a specific well depth, said John Lindsay, H&P President and CEO. While companies ...

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US land drilling faces long road to recovery

Increase in onshore rig count is likely to be minimal next year as E&P companies will remain cash-strapped and favor conservative spending By Stephen Whitfield, Associate Editor Around this time a year ago, US onshore drilling appeared to be in a tough spot, with analysts projecting drops in the rig count and a slowdown in production as operators continued to prioritize cash flow. Still, no one could have predicted the events that followed. The COVID-19 pandemic and the oil price crash threw a significant wrench in nearly every facet of the industry, even more so than the 2014-2015 downturn. Onshore operators responded with massive CAPEX cuts in the first months of the year. Then, largely due to shut-ins and curtailments, ...

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