The cost of services and supplies skyrocketed through 2008, but has not dropped significantly since the onset of the global recession. Major suppliers gathered at CERA Week to talk about where the industry has been, where it is today, and where they think it is going.
Chevron-led consortium to acquire 40% interest in Orinoco Belt heavy oil project.
Alakaluf 5 is the ninth well drilled in 2009
North Dakota posts record oil production in 2009
Caledyne Balance Pump offers new lease of life to maturing gas wells
3M introduces next generation underground pipe/cable/fault and electronic RFID marker locators
FANUC to reinforce industry-leading CNC portfolio; GE to continue global investment in industrial automation and process control systems, software solutions and embedded computing
Companies are focused on transactions to emerge stronger out of the downturn
Pacific Asia Petroleum, Inc. CEO Frank Ingriselli projects $1 billion growth opportunity in China CBM industry at Singapore conference
New training programs delivered in Kazakhstan as first graduates enter the industry
American Electric Technologies transitions leadership in next phase of strategic growth plan
Tendeka, the completions technology provider, has strengthened its team with two key senior appointments.
Fugro Robertson appoints Barry Ringer Far East Regional Manager
Hyperdynamics expands its technical staff with the addition of former BP Chief Geologist David Roberts and Exploration Manager Edward Shaw
Foster Wheeler-Led JV receives British Safety Council Five Star Health and Safety Award
Clear brine fluids infrastructure provides single-source fluids service
Oil and Gas Production, Petrochemical Refining, Storage, Compressor Stations
Bolivia: Total files declaration of commerciality for the Itau field
Oilex secures farm-out of key Timor Sea block
Subsea 7 opens new pipeline spoolbase at Port Isabel, Texas
PetroquímicaSuape receives first equipment for PTA plant
All roads lead to Aberdeen this September for the biennial SPE Offshore Europe conference and exhibition being held from the 8th to the 11th of September at the AECC venue.
Puguang Gas Field: Germanischer Lloyd awarded project management consultancy contract in China
Tank inspection in Jakarta using Industrial Rope Access
Occidental Petroleum announces significant California oil and gas discovery
Halliburton names Nance Dicciani to board of directors
Patrice de Viviès appointed senior vice president, Northern Europe, Total Exploration & Production
Tune South starts production
BP announces successful results of Mad Dog South well
Space/Weight saving V-Cone Flow Meter to be exhibited at ISA ‘09
Vega oil also to be produced by StatoilHydro
Shell begins production at Parque das Conchas (BC-10) offshore Brazil
Gray Wireline announces Mark Harris as new president and chief executive officer
Wood Group provides commissioning & start-up services for BP Colombia
Rumaila set to become second highest producing field in the world
Development is latest achievement in major producing area
E&P Focus promotes the widespread dissemination of research results among all types of oil and gas industry stakeholders.
Major release of RokDoc Version 5.4 the industry leading quantitative interpretation software system
Industrial automation and advanced manufacturing leader continues expanding food and beverage, confectionery and pharmaceutical service offerings
Saudi Aramco and ConocoPhillips re-launch bidding process for Yanbu project
North American Energy Resources, Inc. recompletes Washington County Well and finds oil in lower Bartlesville zone
Tracerco’s new China office provides global expertise with local service
ExxonMobil expands natural gas processing capacity in Piceance Basin
New board member in StatoilHydro
Lucas Energy, Inc. announces workover program implementation
Ultrasonic flow meters will help improve productivity and efficiency for new BP refinery
Cameron acquires Maxtorque
AlMansoori further recognized for HSEQ commitment
Petroleum Society of Canada completes merger agreement with SPE
History of Groningen field provides valuable lessons
FMC Technologies forms joint venture with Shoaibi Group in Saudi Arabia
New multi-gas monitor is the first to receive UL 913 7th Edition Certification two years before it is required
GE Oil & Gas affiliate signs global frame agreement to supply equipment and services to Petronas and its production sharing contractors
Knowledge and technology transfer to provide world class service for customers regionally
Management appointments at CairnToul
S&P revises oil price deck for the remainder of 2009 revised, affirms other assumptions
Technical solutions will reduce gas flaring to lower environmental impact
ABB adds auto-mooring to winch control program platform
Schlumberger Awards Scholarships to the American Association of Petroleum Geologists' Outstanding Student Chapters
Indigo Minerals LLC announces planned acquisition of interests in 60 producing fields, 40,000 undeveloped acres and certain midstream assets located in the Ark-La-Tex from Chesapeake Energy Corporation for $218 Million
Both capital and operating costs declined over the past six months, according to IHS CERA indexes
Twister BV Introduces SWIRL Valve Technology
Dzheitune (Lam) 28/134 well on production with an initial combined tested rate of 3,554 barrels of oil per day ("bopd")
Lucas Energy, Inc. reported that the Griffin Oil Unit No. 2 well has surpassed its expectations
Spectraseis has been announced the winner of the Swiss Economic Award 2009 in the high-tech/biotech category
DPS delight with dolphin first oil
Multilingual program shines spotlight on why work must be planned to reduce risk
GL opens two more offices in Vietnam
DONG Energy joins the ITF fold
We must be prepared to wait 10 to 20 years for new technologies to evolve. There are no quick fixes.
Multi-Chem launches program to review and maximize cost effectiveness.
Sensornet finishes installation of pipeline leak detection system in Kent, England
Petroleum output from the Norwegian Continental Shelf is expected to decline beginning in 2015. Decisions made today will impact production levels and activity beyond 2020.
September is historically the most active part of the hurricane season, and this year has been no exception.
As production from the Barnett Shale formation and other unconventional gas sources ramps up to meet rising demand, pipeline operators are making plans for new capacity to deliver the gas to growing markets.
The contract is for the installation of ten dynamic flexible risers systems, two dynamic umbilicals and a Direct Electrical Heating dynamic cable.
Sales volumes for Q4 08 were 18,237 barrels of oil and natural gas liquids ("BO") and 53 million cubic feet of natural gas ("MMCF"), or 27,095 barrels of oil equivalent ("BOE").
The contract is a contributory factor in Noble Denton’s expansion in Sharjah where employee numbers will grow to 100 this year.
This deal demonstrates the industry’s confidence in the Hebron resource as well as the flexibility and goodwill of all parties in reaching a mutually beneficial agreement.
TGS said the management and board are now unanimously of the view that a friendly merger is no longer possible.
The Texas Offshore Port System (“TOPS”) project would include an offshore port, two onshore storage facilities with approximately 5.1 million barrels of total crude oil storage capacity, and an associated 160-mile pipeline system with the capacity to deliver up to 1.8 million barrels per day (BPD) of crude oil.
Perdido will be the deepest oil development in the world, the deepest drilling and production platform in the world and have the deepest subsea well in the world.
Initial results have confirmed the northerly extension of the gas bearing Doina Main Sand reservoir, some 1.6 kilometres north of the previously drilled Doina wells.
Earnings before interest, tax, depletion and amortisation were $150 million.
First commercial gas began flowing on 8 August 2008.
The licensees will now evaluate the size and productivity of the discovery, which was estimated at 32m bbl prior to drilling.
This increase is primarily attributed to implementation of pilot projects that have formed the basis for aggressive new drilling campaigns that are now being implemented across the four undeveloped or underdeveloped oil fields that comprise the Shallow Fields Production Unit.
As a result of the acquisition, LEA will become a wholly-owned subsidiary of Senergy's Oil & Gas business, and will continue to be run as a specialist division within the Senergy's wells group.
The $200,000 state-of-the-art, calibration laboratory, which will provide sound velocity, conductivity, depth and temperature calibrations traceable to national standards.
This will be the first use of a Floating Production Storage and Offloading (FPSO) unit in the Gulf of Mexico.
Origin operates both blocks on behalf of two joint ventures.
American Sensor Technologies, Inc. (AST) unveils the new digitally compensated, CE approved, AST20HA high accuracy pressure transducer to complement it’s existing OEM and Hazardous Area pressure sensing products.
Technology first developed in 1816 is employed as a highly effective solution for well-pumping and other power requirements in remote well locations.
Royal Dutch Shell reported income up 33%
BW will be responsible for the FPSO mooring system, and a submerged turret production and mooring buoy. Deliveries will be made through BW’s subsidiary APL.
The contract is for a period of seven years, with first oil scheduled for the first quarter of 2010.
The proposed contract also provides BP an option for the provision of a second future FPSO in the area.
Intial contract value is approximately NOK 360 million.
CNX Gas Corporation reported record net income for the quarter ended June 30, 2008 of $64.3 million.
The EANGL project lies 28km offshore Nigeria and on Bonny Island, Nigeria. Mobil Producing Nigeria operates the project with a 51% stake, while state-owned Nigerian National Petroleum Corp has 49%.
Higher profits were again due to higher price realisation for both oil and gas.
The platform will process additional oil production and gas which will be piped back to existing facilities at Longford.
Eclipse has around 50 employees operating from five offices in Aberdeen, London, Stavanger, Houston and Dubai
Petro-Canada has also reported a new discovery in the Dutch sector of the North Sea in its second quarter results.
Noreco’s seven fields are Brage and Enoch offshore Norway, plus the five Danish fields of Siri, South Arne, Nini, Lulita, and Cecilie.
Work is expected start on 1 September and last for around 70 days.
The Alaskan Senate is expected to pass the bill approving TransCanada’s bid by 2 August.
The Company also announced the last of its pipeline construction in Cubic's northern acreage of Johnson Branch should be finished in the next few weeks.
Under the terms of the Offer, Duvernay shareholders will receive C$83.00 for each Duvernay common share.
The marine drilling complex used to drill the well will now move to spud Laganskaya-1 at the end of September. Lundin also plans to drill another two wells in 2009.
RBG also won a deal in Trinidad & Tobago from Technip to provide bolting and subsea solutions.
The Northstar transaction represents the second acquisition by Dynamic since receiving a $500 million equity commitment from Riverstone Holdings LLC and management in January 2008.
The EQUALIZE Reservoir Optimized Completion System has helped maximize hydrocarbon recovery for numerous worldwide operators.
Under the agreement Subsea 7 executes all of Venture’s subsea engineering, construction and Inspection Repair and Maintenance (IRM) works.
The GE-STW collaborative will initially address the wastewater challenges of Barnett, Fayetteville and Appalachian Shale natural gas drilling plays - locations known for tough-to-treat wastewater.
The patented OMNI-Max™ anchors were installed at Eni’s Green Canyon 385 location in June 2008 in approximately 3600' water depth.
The contract is valued in excess of US $22 million.
Further testing and optimisation will take place over the next few weeks, said Dragon.
Phoenix International Holdings Inc. (Phoenix) completed installation of a 40-ton dynamic knuckle-boom crane on the M/V ANNE CANDIES.
The Offer will be a cash offer of C$83 per share of Duvernay. The Offer would value Duvernay's fully diluted share capital at approximately C$5.9 billion, including debt, and would be a 36% premium over the average share price over the last 30 days.
Canadian Superior Energy announced today they have agreed to case and conduct flow testing on the "Bounty" well located approximately 65 miles off the east coast of the island of Trinidad.
South Australian based oil producer announces that it will spud the Brew 1 exploration well in Cooper/Eromanga Basin PEL 113.
Shell has achieved yet another milestone in the Ursa/Princess Waterflood project. First injection of water occurred on July 3, 2008, and is planned to continue for the next 30 years.
Transocean Inc. announced that its deepwater drillship Deepwater Pathfinder, a single-activity rig capable of drilling in water depths up to 10,000 ft, has been awarded a five-year contract by a subsidiary of Eni for drilling operations primarily in the Gulf of Mexico.
Weatherford International Ltd. and Petrowell Ltd. have entered an exclusive, worldwide manufacturing and distribution arrangement aimed at bringing emerging reservoir completion technology to the market place.
ConocoPhillips and Abu Dhabi National Oil Company today signed an Interim Agreement to develop the Shah Gas Field in Abu Dhabi.
Superior Energy Services’ Marine Services Division christened its new 175-ft class liftboat, the Superior Future.
Sensornet has successfully installed the world’s first multipoint openhole Distributed Temperature Sensing (DTS) technology for a major operator in the Middle East.
IHS Inc. and Energistics announced the launch of a service that delivers an industry standard for global unique well identifiers (GUWI) for all known oil and gas wells outside North America.
The combined company will initially operate 90 vessels with an additional 16 vessels under construction for delivery through 2010.
The new CO2 resources are expected to expand Oxy's Permian production by a minimum of 50,000 barrels of oil per day within the next five years.
Wavefront Energy & Environmental Services Inc. settles lawsuit with Applied Seismic Research
China Gengsheng Minerals, Inc. (BULLETIN BOARD: CHGS) ("Gengsheng" or "the Company"), a leading manufacturer in China of industrial materials capable of withstanding high temperature, saving energy and boosting productivity in certain industries such as steel and oil, today announced that it has signed a $1.46 million fracture proppants supply contract with China National Petroleum Corporation (CNPC)'s Jidong Oil Field in Tangshan, Hebei province.
Westside Energy Corporation (AMEX:WHT) ("Westside"), a publicly held exploration and production company, and the Crusader entities, a group of privately held independent oil and gas companies engaged in the development of unconventional resource plays which includes the application of horizontal drilling and cutting edge completion technology aimed at developing shale and tight sand reservoirs.
Occidental to develop major new Texas enhanced oil recovery assets, increasing U.S. production.
Petrohawk Energy Corporation announces that it has completed its initial horizontal well in the Haynesville Shale.
Targa Resources, Inc. announced that it has entered into an agreement with Chevron Corporation's subsidiaries, Chevron U.S.A. Inc. and Venice Gathering Company, for the purchase of their combined approximately 54% ownership interests in Venice Energy Services Company, L.L.C. (VESCO).
Wavefront Energy and Environmental Services Inc. ("Wavefront"), a leader in fluid injection technology for improved/enhanced oil recovery and groundwater restoration is pleased to report early Powerwave results from installations on-going since April 2008 with a Fort Worth, Texas oil producer.
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