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Wood Mackenzie analysis shows US unconventionals are crucial to majors

The majors have made big strategic bets on the Lower 48. The scale, returns and investment flexibility offered by tight oil and gas has made it an essential part of most major players’ portfolios. ”US unconventionals have enormous potential – and the majors have taken note,” Roy Martin, a research analyst in Wood Mackenzie’s corporate upstream team, said. “Following BP’s US$10.5 billion deal with BHP, all of the supermajors have a footprint in the Permian Basin, and are poised to deliver an unprecedented phase of production growth that will see output reach new highs over the next decade.” Wood Mackenzie has released “The Majors in US Unconventionals”, an in-depth study on the International Oil Company’s comparative positions in the Lower 48. ...

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The changing US energy trade balance is still dominated by crude oil imports

During the past decade, the US trade gap for energy products has narrowed. From 2003 to 2007, the value of energy imports was about 10 times greater than the value of exports. By 2017, imports were only about 1.5 times greater than exports according to data from the US Census Bureau. The primary US energy import is crude oil, which generally accounts for about two-thirds of the total value of energy imports. Petroleum products—including liquefied petroleum gas (LPG), gasoline, and diesel fuels—are the next largest category of imports, accounting for about 20% of the total value of energy imports. Canada is the largest US trading partner for energy products. In 2017, energy imports from Canada were valued at $73 billion. ...

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Maersk Drilling awarded new contract for jackup Maersk Intrepid

Equinor has exercised two options extending the current contract for the jackup Maersk Intrepid by two months until June 2019. Further, Maersk Drilling and Equinor have signed a new five-month contract for the Maersk Intrepid, which will commence in direct continuation of the current extended contract. The new contract adds an additional four options of two months each. The Maersk Intrepid will be utilized for both drilling and accommodation activities at the Martin Linge field, with possible re-deployment to other Equinor-operated fields at a later stage. “We are proud to see Maersk Intrepid get the opportunity to continue on Martin Linge and contribute to the expected opening of production on the field in 2020,” Morten Kelstrup, CCIO  of Maersk Drilling, said. ...

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Maersk Drilling gets semi-sub contract offshore Timor-Leste

Maersk Drilling and Eni as operator of the JPDA 11-106 Joint Venture have signed a one-well contract for the semi-submersible rig Maersk Deliverer for exploration drilling in the Timor Sea. The estimated duration of the firm contract is two months, expected to commence in March 2019. The contract contains an option for an additional well with an expected duration of an additional two months.

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Rowan completes previously announced sale of two jackups to ARO Drilling

Rowan Companies has announced that it has concluded the sale of two LeTourneau TARZAN Class jackup rigs, the Scooter Yeargain and the Hank Boswell, to ARO Drilling. The net economic impact of this transaction was that Rowan received approximately $90 million in cash and $176 million in shareholder notes from ARO Drilling as consideration for the two rigs. In addition to Rowan’s 50% equity stake in ARO Drilling, Rowan now has a total of $445 million of shareholder notes from ARO Drilling. By agreement of the parties, this transaction will be reflected to have occurred as of 1 October 2018, at which point the Scooter Yeargain and Hank Boswell each will be deemed to have commenced a new three-year contract with Saudi ...

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Weatherford RSS aims for cost-effectiveness, broad applications

Rotary steerable systems (RSS) have led to a paradigm shift in how wells are drilled today, but more improvements are still needed in order for the technology to help operators drive down their well construction costs. Weatherford’s Magnus push-the-bit RSS was developed with broad applications in mind, from everyday to extreme conditions, and features fully independent pad control. In this video from the 2018 SPE Annual Technical Conference & Exhibition, held 24-26 September in Dallas, Texas, Etienne Roux, Weatherford President, Drilling and Evaluation, speaks with DC Editor/Publisher Mike Killalea about the development of the new RSS, as well as ROP improvements that have been achieved in Mexico. Watch the video to learn more.

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New onsite rig crew training service provides well control overview in two hours

A new mobile crew training unit will soon allow Wild Well Control to extend its well control training from the classroom to the rigsite. The onsite rig crew training service was developed at the request of companies that wanted to allow certain rig crew members who don’t receive frequent opportunities to attend classroom training – such as derrickhands, motor hands and floor hands – to understand the basics of well control. The training reviews the signs of well kicks, critical decision-making skills, proper drilling techniques and proper shut-in procedures. In this video from the 2018 SPE Annual Technical Conference & Exhibition, held 24-26 September in Dallas, Texas, DC Editor/Publisher Mike Killalea speaks with Steve L. Richert, Manager, WCT Instructor & ...

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BHGE extends low temperature range for disintegrating frac plug

The SPECTRE disintegrating frac plug was developed in collaboration with operators who sought an anchoring grip that would completely disintegrate, leaving no debris in the wellbore that could compromise long-term operations. Baker Hughes, a GE company, recently introduced the SPECTRE low-temperature (LT) plug, which extends the tool's reliable disintegration envelope to temperatures as low as 100°F.

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Intelligent RSS provides up to 18°/100 ft dogleg capabilities

Operators’ need to efficiently and reliably drill longer laterals faster is pushing equipment manufacturers to develop new rotary steerable systems (RSS) that can steer accurately through high-angle wellbores in one run and achieve target depth on time and on budget. Halliburton recently launched the iCruise RSS, which can provide up to 400 RPM and up to 18°/100 ft dogleg capabilities. At the 2018 SPE Annual Technical Conference & Exhibition, held 24-26 September in Dallas, Texas, DC Editor/Publisher Mike Killalea spoke with Paul Bond, Product Manager for RSS, about what Halliburton is calling an intelligent RSS, which has already been deployed in multiple basins around the world, including North America and the Middle East.

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New push-the-bit RSS features enhanced lateral, proportional steering control

Scientific Drilling International recently commercialized its push-the-bit HALO rotary steerable system (RSS). The tool combines enhanced lateral and proportional steering control with a single integrated collar to help optimize wellbore placement, reduce handling time and risk, and improve overall drilling time. In this video from the 2018 SPE Annual Technical Conference & Exhibition, held 24-26 September in Dallas, Texas, DC Editor/Publisher Mike Killalea speaks with Neil Bird, Product Line Manager – RSS, about the new system, which can drill with build rates of up to 15°/100 ft. Watch the video to learn more about the technology.

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