Chevron has entered into a definitive agreement with Anadarko Petroleum to acquire all outstanding shares of Anadarko. This will strengthen Chevron’s positions in shale, deepwater and natural gas resource basins.
Roy Martin, Senior Analyst, Corporate Analysis for Wood Mackenzie, commented: “Chevron now joins the ranks of the UltraMajors – and the big three becomes the big four.” Once the deal closes, Chevron will be the second-largest producing major, in 2019 terms.
Mr Martin added: “ExxonMobil, Chevron, Shell and BP are now in a league of their own. The deal plays to Chevron’s strengths, which are tight oil and LNG. On top of this, it diversifies their growth options, while also giving them more in tight oil. By buying Anadarko, they take on a highly contiguous Delaware basin position in the Permian. Chevron ought to be able to do more with the acreage than Anadarko, which lagged behind in terms of well productivity. Chevron’s deepwater Gulf of Mexico position is also strengthened.”
Equinor has awarded eDrilling with a one-year contract extension for drilling optimization software, providing artificial intelligence and predictive analytics technologies, eDrilling announced in its March newsletter. The software provides early detection of downhole deterioration, diagnostics and first actions to help improve drilling/casing performance based on downhole conditions. wellAhead is designed for use on rigs, in real-time decision support centers, and for any individuals or teams supporting live drilling operations. It can also serve as the foundation of future rig-side automation.
Baker Hughes, a GE company (BHGE), has opened a manufacturing and technology center in Oklahoma City to advance the performance, quality and reliability of downhole drilling motors. The BHGE Motor Center of Excellence incorporates cutting-edge robotics, automation and process control to create a step-change in drilling motor precision and quality.
Weir Oil & Gas has opened a 92,000-sq-ft Midland Customer Service Center, reaffirming its commitment to the Permian Basin and consolidating three existing Permian-area locations into one location. It will begin servicing customers immediately.
Tenaris has entered into a definitive agreement to acquire IPSCO Tubulars, a producer of seamless and welded OCTG and line pipe products, with an annual production capacity of 450,000 metric tons of steel bars, 400,000 metric tons of seamless pipe and 1 million metric tons of welded pipe.
RDS has been awarded a new contract for the detailed design of a drilling facility for an offshore platform. The contract has a duration of 12 months, with future follow-on support executed from RDS’ London offices. This is RDS’ first detail design award for a new greenfield platform since the oil price decline in 2014.
Halliburton has announced Motors Center of Excellence, a new approach to drilling motor development that combines specialized engineering and manufacturing capabilities to customize motor designs for specific basin challenges. As a part of the approach, Halliburton opened two new reline facilities in Houston and Saudi Arabia that are equipped with state-of-the-art technology.
Tata Consultancy Services announced that it has been selected by Seadrill to transform and maintain its global digital infrastructure. TCS will support Seadrill’s global IT operations across the business and will provide local support services in the UK, US, Canada, Brazil, Mexico, Saudi Arabia, UAE and Thailand.
Tally Energy Services has acquired ReStream Solutions, whose FracStream is a hardware-software service that seamlessly integrates into existing hydraulic fracturing operations to provide real-time, unmanned frac fluid characterization.
Gardner Denver has opened a 10,500-sq-ft warehouse in Neuquén, Argentina, to support frac, drilling, well services and water jetting pumps with the company’s parts, service and support.
Expro’s Executive VP Alistair Geddes has been promoted to Chief Operating Officer with immediate effect. Additionally, Keith Palmer has been promoted to Executive Vice President – Product Lines and will be responsible for Expro’s product lines, technology and group engineering.
Neodrill has announced three new project wins with Repsol, Total and DEA Group. Neodrill will deliver its CAN-ductor on Repsol’s North Sea well; installation is expected to take place in summer 2019. A new well in DEA Group’s Norwegian Continental Shelf asset will also benefit from the CAN technology this summer.
In February, Neodrill installed a CAN-ductor for Total in its UKCS well East of Shetland. This was the first time that the technology was installed in mixed soil conditions. The new projects are expected to result in a saving of 2-4 rig days per well, as well as more robust well foundations.
TGT is shifting from a logging tools approach to an application-led products approach by organizing its business around two domains – True Flow and True Integrity. This means the company’s products are relevant to all wells throughout their lifecycle. TGT’s new diagnostic systems use five technology platforms: Chorus, Cascade, Pulse, Indigo and Maxim, in various combinations to make the products.
BP and Enpro Subsea have announced the execution of a global frame agreement aimed at providing an enhanced subsea architecture and smart standardization using Enpro’s Flow Access Module (FAM) technology. The FAM technology was supplied to BP on the Kepler K3 project in the Gulf of Mexico. BP used FAM to install multiphase metering, water cut metering and sand detection at the Xmas tree end of a 3.2-km single spur tieback in addition to hydrate remediation and flow assurance hydraulic intervention module adjacent to the manifold.
Weatherford has introduced its remote-activated, single-trip deepwater completion system. By combining the upper and lower completions in one trip, the system has been shown to reduce installation time by between 40-60% and to reduce rig time by four to six days. Using radio-frequency identification (RFID) technology, the field-proven TR1P system delivers 100% interventionless operations in both producer and injector wells.
Emerson and Repsol have established an alliance to deliver advanced subsurface geophysical technologies to reduce the time to prospect and produce first oil. The collaboration can be extended to a broader range of subsurface technologies.
To achieve this goal, Emerson will work with Repsol to implement and deploy advanced subsurface imaging technologies, whose core technologies were developed by Repsol as part of Kaleidoscope, its 10-year innovation project. The solution combines the latest in high-end visualization, high-performance computing and cloud delivery.
These technologies have contributed to the exploration success ratio of Repsol, with special significance in settings of complex geology in countries like Brazil, Peru and Bolivia.
The first phase of the collaboration will provide advanced solutions for velocity determination, including full waveform inversion, and advanced solutions for seismic imaging developed in the Repsol Technology Lab.
Amrfeo is developing a nano compound, made from bentonite as a primary constituent, that swells and absorbs water to gain more than 100 times its own weight. In the event of lower hydrostatic pressure, due to loss of circulation of drilling fluid entering into any fractured zone, Frac-Seal can be introduced in the same slurry line and allow the particle to travel along with slurry into the fractured zone. The particle is designed for delayed swelling properties up to 15 minutes.
Ingersoll Rand has launched the W5133P-C1D2 3/8-in. Compact Impact Wrench, a cordless impact wrench certified for Class 1, Division 2 applications. The tool delivers 550 ft-lb of nut-busting torque and 365 ft-lb of max reverse torque. It has a retention cage that holds the battery in place to reduce the risk of sparks, and a pin anvil holds the socket securely on the tool to keep it from dislodging while in use.
Hempel has rolled out a highly flexible, two-coat water repellent coating – Hempatop Repel 800. This new topcoat offers enhanced corrosion protection by actively repelling water from the coated surface. By enabling the use of fewer coating layers, this solution for offshore assets and installations can be applied faster and lasts longer than conventional coatings solutions, saving owners time and money.