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IADC supports House Natural Resources Committee passage of BLM Onshore Permitting Bills

The U.S. House Committee on Natural Resources passed three bills that will eliminate delays in the Bureau of Land Management’s (BLM) onshore permitting process. IADC supports today’s passage of H.R. 6087: Removing Barriers to Energy Independence Act; H.R 6088: Streamlining Permitting Efficiencies in Energy Development Act and H.R. 6107: Ending Duplicative Permitting Act. IADC is also supportive of the committee’s passage last week of H.R. 6106: Common Sense Permitting Act. In response, IADC President Jason McFarland issued the following statement: “IADC has long been a supporter of energy laws and regulations that responsibly enable the exploration and production of oil and natural gas on Federal lands. Unfortunately, despite soaring production levels in the U.S., production on Federal lands continues to ...

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KCA Deutag awarded contract on UK platforms

Global drilling and engineering contractor KCA Deutag announced that its offshore business unit has been re-awarded a new drilling contract on the North Alwyn and Dunbar platforms by Total. The contract is for the provision of platform drilling services and has an initial term of three years with an option to extend by two years. “We have been the drilling contractor on the Dunbar and North Alwyn platforms for approximately 20 years now and are pleased that, by working closely with our client, we have yet again been able to offer them a cost-effective yet innovative drilling solution with a firm focus on crew training and competence,” Rune Lorentzen, President of Offshore, said.

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Open-source technology could reduce time and cost required to develop digital technologies

By Kelli Ainsworth Robinson, Associate Editor Open-source software has enabled other industries to fast-track technology development by allowing companies to build on the work that other companies have done. “It has accelerated growth for so many other industries, and it’s about time that we did the same,” Theresa Baumgartner, Drilling Research Engineer for Shell, said at the Q2 2018 IADC Drilling Engineers Committee (DEC) Technology Forum in Houston on 13 June. Open-source software, which could be used for real-time drilling analytics and automation, may help operators and drilling contractors quickly adopt these technologies and build onto them with new algorithms. However, if open source is to become common place in the industry, companies must change how they view competition and ...

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Susan Farrell: Oil prices to stay volatile amid geopolitical tensions, increased production from US unconventionals

There is tremendous uncertainty in the oil markets right now, particularly on the supply side. For example, Venezuela’s production decline began to accelerate in late 2017, contributing to the higher oil prices. This year, production in the country has moved into an apparent free fall and is forecast to take 1 million bbl/day out of the market by year-end, said Susan Farrell, VP of IHS Markit. In this interview from the 2018 IADC World Drilling Conference in Copenhagen, Denmark, on 19 June, Ms Farrell also discuss potential impacts from Iran sanctions, as well as US unconventionals production, which is expected to increase both in 2018 and 2019. Watch the video to learn more about Ms Farrell’s forecast.

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IGA urges drilling industry urged to exchange knowledge with geothermal

Geothermal is an unlimited natural source of energy and can play a significant role in meeting the world’s energy needs, Dr Marit Brommer, Executive Director of the International Geothermal Association, said at the 2018 IADC World Drilling Conference in Copenhagen, Denmark, on 20 June. The drilling industry has a role to play in exploring that potential, she noted. In this interview with DC Managing Editor Linda Hsieh, Dr Brommer discusses how geothermal can support the transition from a fossil fuel to a renewable-based economy, as well as the Iceland Deep Drilling Project.

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Forces of disruption are under way, and industry must respond, adapt

Multiple forces of disruption are under way in the drilling industry, and companies must acknowledge and respond to these forces, Kevin Krausert, President and CEO at Beaver Drilling, said at the 2018 IADC World Drilling Conference in Copenhagen, Denmark, on 19 June. Beaver Drilling has partnered with the University of Calgary on a project – called the Avatar Program – that explores what a training program for rig crews of the future should look like that would allow the industry to adopt technologies faster and in a safe manner. In this interview with DC, Mr Krausert also talks about how the drilling industry can approach competition both on product and on price.

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Brady: Offshore contractors need higher dayrates to sustain businesses but also must work to optimize own costs

By Linda Hsieh, Managing Editor Offshore drilling contractors can’t sustain their businesses at current dayrates and must soon move back into a position of profitability, Steve Brady, 2018 IADC Chairman, said at the 2018 IADC World Drilling Conference on 20 June in Copenhagen, Denmark. In 2015 and 2016, the average leading edge dayrate was still somewhat above drilling contractors’ daily cash costs. “But as they have come down, quite frankly we have reached a level that is less than what it costs to operate a drilling rig,” noted Mr Brady, who also serves as Senior VP – Eastern Hemisphere for Ensco. Looking at the cost distribution for a greenfield development as an example, Mr Brady pointed out that rig rates ...

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