Home / Microsites / Onshore Advances (page 10)

Onshore Advances

SIMMONS EDECO awarded contract by Tonalli Energia

SIMMONS EDECO has announced that it has been awarded a contract by Tonalli Energia to provide drilling services in Mexico. The contract, which has already begun, engages SIMMONS EDECO to support Tonalli’s onshore oil and gas development Block 24. The Block known as Tecolutla, is in the Tampico-Misantla Basin in the Mexican state of Veracruz. SIMMONS EDECO will drill the horizontal well 2310 TVD to a measured depth of 3,750 m by using Rig 836, which recently drilled a number of wells on the Amatitlan block in Mexico.  Cultivating a new relationship  Although SIMMONS EDECO has been providing onshore drilling services in Mexico since 2015, this drilling project represents the first time that the company will have worked on behalf of Tonalli Energia, a joint venture between Mexican ...

Read More »

Industry attention redirecting back to more mature unconventional plays

A lot of attention in the drilling industry is being directed back to some of the more mature plays like the Eagle Ford and Bakken, said Todd Bush, VP Commercial and Principal, Westwood Global Energy. In this video from the 2018 IADC Annual General Meeting in New Orleans on 8 November, Mr Bush talks about what’s driving this trend, as well as his forecasts for drilled but uncompleted wells (DUCs) in the Permian and how production might be impacted. Further, he talks about why the Haynesville is now being closed monitored. Watch the video for more information.

Read More »

Wood secures $53 million of contracts supporting ADNOC Onshore

Wood has been awarded three new, call-off contracts totaling $53 million by ADNOC Onshore, a subsidiary of Abu Dhabi National Oil Company (ADNOC). Project management consultancy (PMC) services will be provided for major projects across the company’s onshore fields in Abu Dhabi, aimed at supporting ADNOC’s group-wide production capacity target of 4 million BPD by 2020. Creating around 100 new jobs in the country, the five-year contracts have one-year extension options available. This win builds on Wood’s successful track record of partnering with ADNOC, which spans over 40 years and has included multiple, significant PMC projects. “Wood has a strong foothold in the Middle East and our strategic focus on continuing to broaden the capabilities we deliver to the oil and ...

Read More »

ADES completes acquisition of drilling operations from Weatherford in Kuwait

ADES, a leading oil and gas drilling and production services provider in the Middle East and North Africa, has announced that it has completed the acquisition of twelve onshore rigs from Weatherford in Kuwait. The transaction forms part of the previously signed definitive agreement with a subsidiary of Weatherford to acquire 31 onshore drilling rigs for a total consideration of $287.5 million across Kuwait, Saudi Arabia, Algeria and Southern Iraq. Transaction Highlights Twelve rigs acquired for a total consideration of $123 million, two idle land-drilling rigs in Southern Iraq for an additional $12 million pending delivery, all of which were financed through a combination of cash and secured debt instruments. Eight out of 12 rigs currently contracted in Kuwait with a cumulative estimated backlog ...

Read More »

BP completes purchase of BHP assets in US onshore

BP has completed the $10.5 billion acquisition of BHP’s US unconventional assets in a landmark deal that will significantly upgrade BP’s US onshore oil and gas portfolio and help drive long-term growth. The acquisition – which was announced in July and closed as scheduled on 31 October – adds oil and gas production of 190,000 BOED and 4.6 billion BOE of discovered resources in the liquids-rich regions of the Permian and Eagle Ford basins in Texas and in the Haynesville natural gas basin in East Texas and Louisiana. Following integration, the transaction will be accretive to earnings, is estimated to generate more than $350 million of annual pre-tax synergies and is expected to boost upstream pre-tax free cash flow by $1 billion, to ...

Read More »

Recovery holds steady across North America

Pipeline constraints likely to hold back growth in Permian drilling, while Bakken resurgence takes many by surprise, forecast to continue By Rick Von Flatern, Contributor Predicting how the world of North American onshore drilling will look in 2019, most experts agree, requires only a look back to 2018. All the primary signals that industry analysts interpret to assess probable future drilling activity – rig count, dayrates, crude prices – show no indication of significant movement from current levels. “The average rig count in 2018, we predict, will be 1,011 in the US and 208 in Canada,” said John Spears, President of Spears and Associates. “In 2019, we predict about 1,040 for the US and 211 for Canada, or about 3% ...

Read More »

NOV rig census shows global rig market entering expansion cycle

Onshore, tightness of top-tier rigs will drive new rig orders, upgrades; offshore drilling growing modestly, but oversupply to sustain pressure on fleet utilization By Carlos Huerta, National Oilwell Varco As rig demand grows across land markets and offshore drilling recovers from its cyclical bottom, the industry will look to reactivate, upgrade and add rigs to suit market requirements. Although all rig market segments saw improvements in drilling demand, the biggest adjustment took place on the supply side. In some regions, as many as 30% of rigs were removed from the available fleet for being inactive for more than three years. US land rig demand in 2018 grew 11% to 1,209 rigs, compared with 1,089 units a year earlier. Canadian rig activity ...

Read More »

Devon Energy provides operational update for Jackfish Complex

Devon Energy has reported that additional facilities work at its Jackfish 1 heavy oil project in Alberta, Canada, is now complete, and full-scale operations have been restored. The work at Jackfish 1 was related to minor facility repairs the company identified during recent turnaround startup activities. The company elected to perform the incremental maintenance work that temporarily curtailed production as opposed to deferring the repairs to a future date. The company estimates that its Q3 2018 net production in Canada will be approximately 104,000 BOED as a result of the maintenance at Jackfish 1. The temporary curtailment of volumes at Jackfish represents less than 1% of total expected company-wide production in 2018. Production at the company’s Jackfish 2 and Jackfish 3 facilities were at nameplate ...

Read More »

National Oil Corporation, BP and Eni agree to work to resume exploration in Libya

Libya’s National Oil Corp, BP and Eni have signed an agreement expected to lead to Eni and BP working together to resume exploration activities on a major exploration and production contract in Libya. A letter of intent was signed in London by Mustafa Sanalla, National Oil Corp Chairman; Bob Dudley, BP Group Chief Executive; and Claudio Descalzi, Eni Chief Executive Officer. The parties agreed to work toward Eni acquiring a 42.5% interest in the BP-operated exploration and production sharing agreement (EPSA) in Libya. On completion, Eni would also become operator of the EPSA. BP currently holds an 85% working interest in the EPSA, with the Libyan Investment Authority holding the remaining 15%. Eni has existing exploration and production activities and infrastructure adjacent to onshore areas ...

Read More »